Global Hip Replacement Market, By Product Type (Total Hip Replacement Implant, Partial Hip Replacement Implant, Hip Resurfacing, Revision Hip Implant), By Components (Hip stem system, Acetabular cup system, Revision Accessories and components), By End user (Hospitals, Orthopedic clinics, Ambulatory surgical centres) and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 7.0 Billion in 2023 and is expected to exhibit a CAGR of 5.5% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
To bring patient-centered, high-quality care to more communities, the various market players are engaged in adoption of growth strategies, which is expected to offer significant growth opportunities for players in the global hip replacement market. For instance, on January 27, 2022 MicroPort, a medical device company in China, received national medical product administration marketing approval for Profemur preserve hip stem. The Profemur Preserve Hip Stem is the latest generation hip stem with metaphyseal fixation, intended to provide a more stable solution for an increasingly younger patient population.
Global Hip Replacement Market – Impact of Coronavirus (COVID-19) Pandemic
Since the outbreak of the COVID-19 epidemic in December 2019, the disease has spread to more than 100 countries worldwide and has been declared a public health emergency by the World Health Organization. The emergence of the coronavirus (COVID-19) had claimed more than 27 million lives worldwide, according to a report by the World Health Organization. The COVID pandemic has changed the homeostasis of the medical world and is affecting millions of people worldwide. The global crisis has consequences for the world economy in addition to health. On 15 May 2020, the British Orthopedic Association (BOA), Surgical Specialty Association, U.K. produced a document to help doctors resume orthopedic care. 7 Establishment of COVID-free and COVID-controlled patient care pathways was proposed. To ensure the safety of patients undergoing elective surgery, the BOA sought to communicate this information to patients by issuing guidance specific to patients undergoing arthroplasty on June 26, 2020.
Global Hip Replacement Market: Key Developments
On January 27, 2022 MicroPort, a medical device company based in China, received national medical product administration marketing approval for its Procotyl-L Acetabular Cup System. The Procotyl-L Acetabular System is an improved version of the Lineage Acetabular series that was first introduced to the European market in 2006. The Procotyl-L cup is constructed of an irregularly stratified pore layer of titanium alloy, biocompatible material, and titanium bead coating.
On September 1, 2022 Zimmer Biomet Holdings, Inc., a medical device company, had agreement with Surgical Planning Associates, Inc. medical technology company based, Boston, U.S., to commercialize HipInsight, the first U.S. FDA-cleared mixed reality navigation system for total hip replacement surgery. The HipInsight system provides detailed 3D computed tomography (CT) with key information for accurate and efficient implant placement, including planned component size, pelvic tilt, leg length and offset changes. Provides a base surgical plan.
Browse 48 Market Data Tables and 44 figures spread through 175 pages and in-depth TOC on “Global Hip Replacement Market”- Forecast to 2030 Global Hip Replacement Market, By Product Type (Total Hip Replacement Implant, Partial Hip Replacement Implant, Hip Resurfacing, Revision Hip Implant), By Components (Hip stem system, Acetabular cup system, Revision Accessories and components), By End user (Hospitals, Orthopedic clinics, Ambulatory surgical centres) and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/hip-replacement-market-3642
Key Takeaways of the Global Hip Replacement Market :
- It explores potential revenue opportunities in various segments and explains attractive investment proposition matrices for these markets.
- This study also provides key insights into market drivers, restraints, opportunities, new drug launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players.
- It profiles key players in Global Hip Replacement Market based on the following parameters: company overview, financial performance, drug portfolio, market presence, distribution strategies, key developments, strategies and future plans.
- The main companies involved in this study include Depuy Synthes (Johnson & Johnson), Microport Scientific Corporation, Zimmer Biomet Company Highlights, Exactech Inc, DJO Global Inc, Stryker Corporation, B. Braun Melsungen, Smith & Nephew.
- This report empower marketers and business executives to make informed decisions about future drug launches, drug class advancements, market expansion, and marketing tactics.
- The Global Hip Replacement Market report serves various stakeholders in the industry, including investors, suppliers, pharmaceutical manufacturers, distributors, new entrants, and financial analysts.
- Various strategy matrices used in analyzing Global Hip Replacement Market would facilitate stakeholders' decision-making.
