Albany, NY -- (SBWIRE) -- 04/24/2019 -- Global Hip Replacement Implants Market: Overview
This report analyzes the current and future scenario of the global hip replacement implants market. Increase in patient population, rise in the prevalence of hip-related disorders, increase in per capita health care expenditure, improvement in health care infrastructure, and rise in the number of contractual agreements and acquisitions by manufacturers are key factors that are projected to drive the global market during the forecast period.
The global hip replacement implants market report comprises an elaborate executive summary, which includes a snapshot that provides information about various segments of the market. It also provides information and data analysis of the global market with respect to the segments based on product, material, end-user, and region. A detailed qualitative analysis of drivers and restraints of the market and opportunities has been provided in the overview section. Additionally, the section comprises a competitive matrix and company profiles along with business overview to understand the competitive landscape in the market. This section of the report also provides market share analysis by key players, thereby presenting a thorough analysis of the overall competitive scenario in the global hip replacement implants market.
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Rise in Demand for Hip Replacement Surgeries across the Globe to Propel Market
Global demand for hip replacement is increasing, primarily due to a rise in clinical education among patients, increase in demand among the geriatric population, and rise in the prevalence of obesity and arthritis. The U.S. has witnessed a significant rise in demand for new hip surgeries from 89,919 surgeries in 2004 to 122,154 in 2015. Advancements in minimally invasive surgeries and 3D printing have fueled the global hip replacement market.
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Improvement in Government-initiated Hip Implant Reforms
Government bodies of several countries are undertaking collaborative initiatives to meet the demand for hip implants. For instance, in 2013, Medicare spent about US$ 7 Bn on hospitalizations alone for hip and knee replacements. Moreover, 255 of 400,000 such surgeries performed annually are likely to be covered by the new payment model of the Centers for Medicare & Medicaid Services (CMS) in the near future.
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