United States Hip Replacement Devices Market to Grow with Impressive CAGR until 2027
United States Hip Replacement Devices
Market is anticipated to grow with advancing technologies of the surgical
equipment, in the forecast period, 2023-2027F.
According to TechSci Research report on, “United
States Hip
Replacement Devices Market - By Region, Competition
Forecast & Opportunities, 2027”
United States hip replacement devices market might register an impressive CAGR
during the forecast period, 2023-2027, to establish growth due to factors like increasing
demands for the minimally invasive surgeries. Growing demands for the minimal
invasive or non-invasive surgical devices further drives the growth of the
United States hip replacement devices market in the upcoming five years. Growth
in the research and technological advancement in the medical devices and increasing
investments in their advancement further supports the growth of the United
States hip replacement devices market in the next five years. Increasing
instances of orthopedic diseases like osteoarthritis (OA), osteoporosis and hip
ailments further aids the growth of the United States hip replacement devices
market in the future five years. Also, the surgeons across the country using
robot-assisted surgery and growing investments in the healthcare infrastructure
further adds to the growth of the United States hip replacement devices market
in the forecast years through 2027.
Moreover, hip fractures, hip osteoarthritis cases
are rapidly multiplying at an alarming rate, also favorable reimbursement
scenarios are aiding the market growth at an impressive CAGR in the upcoming
five years. Government aids to the consumers & patients with favorable
health plans and insurances for the hip replacement surgeries also aid the
United States hip replacement devices market in the forecast period.
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The United States hip replacement devices market is
segmented by product type, end user, competitional landscape, and regional
distribution.
Based on product type, the market is further
fragmented into primary hip reconstruction devices, partial hip reconstruction
devices, revision hip reconstruction devices, and hip resurfacing devices. Hip
reconstruction devices are anticipated to hold the largest revenue shares of
the market and dominate the market segment in the upcoming five years on
grounds of growing demand for minimally invasive surgeries and ongoing
technological advancements. Also, increasing prevalence of osteoarthritis
majorly among the geriatric population, and increasing geriatric population of
the country are responsible for the growth of the United States hip replacement
devices market in the next five years.
By end user, the market is bifurcated into
hospitals, ambulatory care centers, orthopedics clinics, and others. Hospitals are anticipated to hold the largest
revenue shares of the market and dominate the market segment in the upcoming
five years on the account of availability of the complete pre and post-surgery
procedures being conducted at one place. Hospitals are often advanced with the
in-expensive medical devices and the experts and surgeons that can utilize
these devices for the treatment of the patients. Orthopedic clinics are also
expected to hold significant growth in the market shares due to growing demands
for outpatient care after the surgery may further add to the growth of the
United States hip replacement devices market in the future five years. The
market analysis also studies the regional segmentation to devise regional
market segmentation, divided among South region, Mid-West region, North-East
region, and West region.
A partial list of major market players of the United
States hip replacement devices market includes:
·
Johnson & Johnson (DePuy Synthes)
·
B. Braun Medical, Inc.
·
Stryker Corporation
·
Zimmer Biomet Holdings Inc
·
Exactech, Inc.
·
Conformis Inc.
·
OMNIlife Science Inc.
·
DJO Global, Inc.
·
Medtronic USA, Inc.
·
Aesculap Implant Systems, Inc.
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“Healthcare industry in
the country is well established and invites heavy investments. The research and
technologically advanced products & their manufacturing actively utilizes
the resources that aids the market growth. Hip replacement devices are in
demand majorly due to the growing geriatric population of the country. The
older population are highly susceptible to the accidents and often possess
weaker joints. The demands for hip implants, surgeries are higher in geriatric
population. Although due to sports injuries and increasing instances of road
accidents, the demand for hip surgeries and replacement procedures are also
increasing among the adult population of the country. Moreover, the growing
prevalence of arthritis, osteoporosis among the older population adds to the
demand for hip replacement devices and thus substantiates the growth of the
market. The government is actively involved in investing their finances and
resources to aid the medical device industry. New market players may invest in
research and advanced product development to enhance their product line to
establish their brand in the market in the future five years,” said Mr. Karan
Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“United States Hip Replacement Devices Market By Product Type (Primary
Hip Reconstruction Devices, Partial Hip Reconstruction Devices, Revision Hip
Reconstruction Devices, Hip Resurfacing Devices), By End User (Hospitals,
Ambulatory Care Centers, Orthopedics Clinics, Others), By Region, Competition Forecast &
Opportunities, 2027” has
evaluated the future growth potential of United States hip replacement devices market
and provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers, challenges,
and opportunities in United States hip replacement devices market.
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