UAE Hip Replacement Devices Market to grow with a CAGR of 4.24% through 2029
Increasing healthcare
infrastructure and a supportive regulatory environment are the major drivers
for the UAE Hip Replacement Devices Market.
According to TechSci Research
report, “UAE Hip Replacement Devices Market Industry Size, Share, Trends, Competition, Opportunity and
Forecast, 2019-2029”, UAE Hip Replacement Devices Market was
valued at USD 79.37 million in 2023 and is anticipated to witness an impressive
growth in the forecast period with a CAGR of 4.24% through 2029. This can be due to collaborations and
partnerships among leading companies with a diverse approach to merge the
expertise of individual companies and to strengthen their position in the
market.
The prevalence of osteoarthritis is a
significant driver for the demand of hip replacement devices. Osteoarthritis is
a degenerative joint disease characterized by the breakdown of cartilage in the
joints, leading to pain, stiffness, and reduced mobility. As osteoarthritis
progresses, it can affect the hip joint, causing significant pain and
functional limitations. Osteoarthritis is more common in older
adults, and the risk increases with age. As the global population, including
that in the UAE, continues to age, there is a natural increase in the
prevalence of osteoarthritis, particularly in weight-bearing joints like the
hip. Improved healthcare and lifestyle factors have led to increased life
expectancy. While this is positive overall, it also means that more people are
living long enough to develop conditions such as osteoarthritis, driving the
demand for hip replacement surgeries and devices.
Osteoarthritis can
significantly impact the quality of life, affecting daily activities and
causing chronic pain. As individuals seek to maintain an active and pain-free
lifestyle, the demand for effective treatments, including hip replacement,
increases. In cases where conservative treatments like physical therapy and
medications are insufficient to manage osteoarthritis symptoms, patients and
healthcare professionals may opt for surgical interventions such as hip
replacement. This preference for surgical solutions further drives the demand
for hip replacement devices.
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Insurance
coverage and reimbursement issues present challenges in the UAE Hip Replacement
Devices Market. Hip replacement surgeries are often considered elective
procedures, and the extent of insurance coverage for such procedures may vary.
Some insurance plans may have limitations on coverage for elective surgeries,
leading to out-of-pocket expenses for patients. Insurance plans may have
exclusions or waiting periods for pre-existing conditions, including
osteoarthritis that may necessitate hip replacement. Patients with such
conditions may face challenges in obtaining comprehensive coverage for their
hip replacement surgery. Even with insurance coverage, patients may be
responsible for high deductibles, co-payments, or coinsurance for hip
replacement surgeries. This financial burden can be a significant barrier,
especially for individuals with limited financial resources. Insurance plans
often have networks of healthcare providers, and coverage may vary depending on
whether the patient chooses an in-network or out-of-network provider.
Out-of-network providers may result in higher out-of-pocket costs for the
patient.
UAE Hip Replacement
Devices Market is segmented based on Product Type, End User, and by Region.
Within the UAE Hip
Replacement Devices Market, segmentation by Product Type includes Primary Hip
Reconstruction Devices, Partial Hip Reconstruction Devices, Revision Hip
Reconstruction Devices, and Hip Resurfacing Devices. Revision hip
reconstruction devices are specifically crafted medical implants utilized when
a previously implanted hip replacement has failed, worn out, or encountered
complications. This procedure involves the removal or replacement of existing
hip replacement components and the insertion of new components to address
concerns like implant loosening, instability, infection, or wear and tear.
Compared to primary hip replacement, revision hip reconstruction is notably
more intricate, often necessitating additional surgical techniques and
specialized implants to manage challenges such as existing anatomy, bone loss,
and potential complications from prior surgeries. These devices are frequently
modular, offering surgeons increased adaptability in tailoring components to
individual patient needs, particularly crucial when managing varying degrees of
bone loss or structural irregularities.
The Abu Dhabi region
stands out as the predominant contributor to the UAE Hip Replacement Devices
Market. This can be attributed, in part, to the region's economic prosperity,
which enables residents with higher disposable incomes to access advanced
healthcare services, such as hip replacement surgeries utilizing innovative
devices. Additionally, Abu Dhabi's appeal to medical tourists seeking
orthopedic treatments likely contributes to the increased volume of hip
replacement procedures, thereby shaping market dynamics. Government initiatives,
healthcare policies, and regulatory frameworks supporting the advancement of
orthopedic services in Abu Dhabi further bolster growth prospects for the hip
replacement devices market in the region.
Some of the major companies
operating in the UAE Hip Replacement Devices Market include:
- Johnson & Johnson (Middle East) Inc.
- B. Braun Medical Gulf FZ-LLC
- Stryker ESCS BV
- Zimmer Biomet EMEA
- Medtronic Meta FZ-LLC
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“The
UAE Hip Replacement Devices Market is experiencing robust growth, fueled by
several key trends. Advanced technologies such as 3D printing and robotics are
revolutionizing surgical procedures, enhancing precision and patient outcomes.
Rising awareness about hip health, coupled with an aging population, is driving
increased demand for hip replacement surgeries. Furthermore, the market is
witnessing a surge in minimally invasive procedures, reducing recovery times
and hospital stays. Companies are focusing on product innovations, including
durable materials like ceramic and titanium, to meet evolving patient needs.
With a strong emphasis on healthcare infrastructure development in the UAE, the
hip replacement devices market is poised for continued expansion and
innovation.," said Mr. Karan Chechi, Research Director with TechSci
Research, a research-based Global management consulting firm.
UAE 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, By Competition Forecast & Opportunities, 2019-2029F has evaluated the future growth potential of UAE
Hip Replacement Devices Market and provides statistics & information on
market size, structure, and future market growth. The report intends to provide
innovative 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 UAE Hip
Replacement Devices Market.
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