Global Hip Prosthesis Market 2016-2020

Overview of the hip prosthesis market

Extensive research carried out by the analysts at Technavio has shown that the global hip prosthesis market will witness steady growth and will post a moderate CAGR of more than 2% over the forecast period. With the recent advances in the hip replacement surgical procedures, the market for hip prosthesis has a positive outlook in the coming years. The new developments in surgical procedures have significantly reduced the risks involved with traditional hip replacements. Minimally invasive (MI) surgical procedures require tiny incisions and minimize the duration of hospital stay and blood loss. Therefore, MI surgical procedures is a safe and cost-effective option for individuals undergoing hip prosthesis surgeries, especially those with arthritis arising from injuries related to accidents or sports. Moreover, the new implant materials are less prone to wear and tear and do not cause any inflammatory reactions. These hip prosthesis have a bioabsorbable polymer coating that helps avoid the problem of bone resorption caused by stress shielding. The recent advances in hip surgery and highly cross-linked polyethylene have slowed down the wearing out process, which will drive this market’s growth until the end of 2020.

Many surgeons have started practicing MI surgeries in an outpatient setting especially for bone and spine disorders. Some of the MI hip fracture operations, such as total hip replacement and partial hip replacement procedures can easily be performed in ASCs. This trend is expected to gain traction in the market and soon most complicated open surgeries will undergo a rapid transition into MI surgeries. These factors will encourage the surgeon to invest in setting their ASCs to perform various MI surgeries in an outpatient setting.  Also, reimbursements for outpatient settings are lower compared to hospitals. This will also encourage the surgeons to opt for MI procedures for the treatment of many disorders in an outpatient facility.

Competitive landscape and key vendors

The global hip prosthesis market is highly dynamic and fragmented with the presence of large, medium, and small players. Although the leading companies hold dominant positions, other factors such as innovation, design, and the development of advanced products will change the competitive dynamics in the market. These leading players collaborate with research organizations to conduct long-term clinical studies of their products. The competitive environment in this market is expected to intensify with an increase in technological innovations and product extensions and increase in M&A.

Key vendors in this market are -

• Johnson & Johnson
• Smith & Nephew
• Stryker
• Zimmer-Biomet

Other prominent vendors in the market include Aesculap Implant Systems, Altimed, Arthrex, B Braun Medical, ConforMIS, Corentec, Corin, Elite Surgical, Exactech, JRI, Lima Corporate, Microport, Ortho Development, Synimed, and Tornier.

Segmentation by end users and analysis of the hip prosthesis market

• Hospitals
• ACSs

During 2015, the hospital segment dominated the market and accounted for close to 62% of the revenue market shares. Hospitals such as multi-specialty hospitals and hospital groups work under government sponsorship or through private entities. Most of the hospitals have over 500 hospitals beds and offer a large number of inpatient and outpatient services. They have the state-of-the-art medical infrastructure to cater to the needs of people. In these hospitals, diagnosis and monitoring of chronic diseases are conducted in outpatient settings. The surgeries are performed in surgical rooms with special operating rooms.

Geographical segmentation and analysis of the hip prosthesis market

• Americas
• APAC
• EMEA

The Americas dominated the market and is expected to account for close to 54% of the market revenue shares. The US is the major contributor to the growth of the hip prosthesis market in the Americas. The increase in the aging population coupled with improving infrastructure will boost this market’s growth in several countries in Latin America such as Brazil and Mexico. The increase in obesity rate and rise in the number of MI orthopedic procedures will continue to propel the growth of the market during the forecast period.

Key questions answered in the report include

• What will the market size and the growth rate be in 2020?
• What are the key factors driving the global hip prosthesis market?
• What are the key market trends impacting the growth of the global hip prosthesis market?
• What are the challenges to market growth?
• Who are the key vendors in the global hip prosthesis market?
• What are the market opportunities and threats faced by the vendors in the global hip prosthesis market?
• What are the trending factors influencing the market shares of the Americas, APAC, and EMEA?
• What are the key outcomes of the five forces analysis of the global hip prosthesis market?

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