Cementless Neck Stems MarketSize and Trends

Rising prevalence of osteoarthritis and increase in hip replacement rate expected to fuel the growth of cementless neck stems market in the near future:

The prevalence of osteoarthritis is increasing due to increase in obese and aging population. As per United Nations, people over 60 years of age will account for over 20% of the world’s population by 2050. Of this, around 15% (130 million people) are projected to suffer from symptomatic osteoarthritis.

According to Organisation for Economic Cooperation and Development (OECD), in OECD countries, the rate of hip replacement is raised by 35% in between 2000 and 2013, furthermore, the highest hip replacement is observed in Switzerland, Germany and Austria in 2013.

Rise in number of hip replacement globally is expected to favor growth of the cementless neck stems market in the near future.

Developed regions major growth engines of the cementless neck stems market

The increasing hospitalization rate due to osteoarthritis and high awareness about available treatment in developed regions will drive the market in near the future. For instance, as per Australian Society of Orthopaedic Surgeons in Australia hospitalization rate with osteoarthritis increased to 415 in 2013-2014 from 362 in 2004-2005 per 100,000 population. Furthermore, in during 2003-2014, the revision hip replacement rate in private sector increased by 19.2% and in public sector by 33.8%.

North America holds major market share, followed by Europe and APAC region. APAC is projected to be the fastest growing region in the cementless neck stems industry over the forecast period. This is mainly attributed to the large population of people aged 20-65 in the region. Also, this growth is supported by developing healthcare infrastructure and increasing availability of healthcare facilities to perform the implantation.