Immense Potential for Hip Replacement Implants Market in Untapped Regions
ALBANY, New York, Oct 17, 2016: The discussions on the global market can be found in a recently added research report on MarketResearchHub.com, titled “Global Hip Replacement Implants Market 2016: Market Size, Analysis, Share, Competitive, Growth & Forecast 2021 Size.” The report of 76 pages gathers all valuable data relevant directly to the use of hip replacement implants and how the market is expected to fare in the coming years.
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With the common modern medical practice of hip replacement ****** back to the 1950s, there have been several changes in the materials used as well as the procedure itself. Several factors need to be considered to understand why hip replacement is in such high demand today. For all patients in need of a hip replacement surgery, it is a valuable procedure that can allow them to resume daily life without a lot of pain.
Modern materials offer high value in terms of performance and durability, therefore allowing a patient to perform almost all functions regularly after the surgery without fear of harming the implant. In fact, orthopedic advancements in technology and materials are allowing doctors to use mixed materials in hip replacement implants to provide the best choice to a patient as per their needs.
The report uses current and historic statistics to predict that the global hip replacement implants market is expected to cross US$5 bn before the end of 2021. The scope of growth for players in this market seems promising for the moment, primarily due to the massive demand for hip replacement implants across the world. The percentage of the geriatric population is growing at an alarmingly high rate. The elderly being the top consumers of hip replacement implants, the healthcare sectors of all countries – especially developed economies – are intensifying their product availability rates as well as research and development efforts.
The demand for hip replacement implants is also expected to increase over time due to a growing level of awareness of the benefits of the procedure as well as an increase in the spending power of individuals on personal healthcare.
From a geographical perspective, the global hip replacement implants market has had a massive demand from North America. The U.S. alone was responsible for nearly half of the total demand for hip replacement implants in 2015. It is expected to retain its leading consumption level till 2021, followed by Japan and China respectively. All three countries are showing an incremental nature of demand for hip replacement implants. On the other hand, the demand in several European nations is falling due to the increasing cutbacks in reimbursement schemes.
The report includes the competitive landscape of the global hip replacement implants market as well, by taking up the profiles of its key players. These include Stryker, Zimmer Biomet, Exactech, Smith & Nephew, and DePuy Synthes.
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