Global Ceramic Total Hip Prosthesis Industry Outlook
According to the current analysis of Reports and Data, the Global Ceramic Total Hip Prosthesis market is expected to reach USD 3,840.1 Million by the year 2028, in terms of value at a CAGR of 6.40% from 2019-2026. A hip replacement is a kind of surgical procedure in which damaged hip joint is replaced with an artificial implant. It is used when the mobility is abridged and even in rest, pain is experienced. These are made up of metal, plastic or ceramic. The commercial applications of Ceramic Total Hip Prosthesis have been studied and researched extensively in recent years. Ceramic Total Hip Prosthesis is widely used in the treatment of osteoporosis, rheumatoid arthritis, septic arthritis, hip fracture and ankylosing spondylitis. According to the National Joint Registry for England, 90% of total hip replacement were performed for osteoarthritis in the U.K. in 2016.
Increase in investments in the market, which are supporting the technological advancements, and rise in healthcare expenditure are estimated to shape the growth of the Ceramic Total Hip Prosthesis market. Growing number of younger individuals suffering from degenerative diseases are observed as the most lucrative application for the Ceramic Total Hip Prosthesis market recently. Ceramic hip resurfacing products are one of the greatest advances of modern hip replacement.
The global pharma healthcare market report points out the key trends and developments taking place in this business space in the ongoing COVID-19 times. According to market experts, the pandemic has turned this industry upside down, with an unprecedented rise in demand and acute supply shortage. The report clearly depicts the current global economic landscape and the considerable situation of the healthcare industry. A substantial increase in demand for healthcare services worldwide, rising cases of the SARS-CoV-2 infection, increasing pharmaceutical research development activities, and new drug pipelines are among the key factors that have driven the global pharma healthcare industry growth in the recent past. Growing acceptance of telehealth and telemedicine services, rise in government initiatives for COVID-19 vaccine development, and escalating demand for advanced point-of-care diagnostics and home healthcare products have further bolstered the industry growth.
Further key findings from the report suggest
- Technological advancements in field Ceramic Total Hip Prosthesis market is the key factor contributing to the market growth. In line with this strategy, key market players are focused on strategic partnerships and collaborations for product development. For instance, In August 2018, Conformis, Inc., a U.S based medical technology company, collaborated with JFK Medical Center in Florida to perform first 3D total hip replacement surgeries.
- In the Ceramic Total Hip Prosthesis Market, the ceramic on polythene (COP) is anticipated to be the largest product type segment which is expected to grow at a significant CAGR during the study period due to the global rise in the geriatric population coupled with surge in bone deformities across the globe.
- Total ceramic hip implants are expected to emerge as highest-growing segment in the analysis period. This is due to their increase in minimally invasive surgeries.
- Europe is the second largest regional market with a CAGR of 6.4% in 2018, due to the increasing awareness about the bone degeneration disorders and related treatment options in the region coupled with rising incidence of hip fractures.
- North American region is expected to contribute the largest revenue share over the forecast period as a result of increasing growth of geriatric population suffering from osteoporosis, osteo arthritis coupled with rising approvals by the U.S. FDA for new products.
- The hospitals segment holds the largest share of the global Ceramic Total Hip Prosthesis market in 2018 due to increasing healthcare expenditure in developing nations. Also, implementation of latest technologies and availability skilled healthcare professionals under a single roof, further propels hospitals segment growth in Ceramic Total Hip Prosthesis market.
In-depth Study of the Competitive Landscape:
The global Ceramic Total Hip Prosthesis market consists of various market players, which make this business sphere highly competitive. In this section of the report, the authors have provided authentic information on product portfolios, new product innovations, technological capabilities, and product pricing strategies of each of these players. Moreover, it discusses the key strategies implemented by these players, such as mergers acquisitions, joint ventures, collaborations, partnerships and agreements, to build on their market presence.
Top companies profiled in the report include:
Medtronic Plc (Ireland), Integra LifeSciences (US), B. Braun (Germany), Spiegelberg GmbH Co. KG (Germany), Sophysa (France), Natus Medical (US), Dispomedica GmbH (Germany), Delta Surgical Limited (UK), Moller Medical GmbH (Germany), and G. Surgiwear Ltd. (India).
Key Market Regions Covered in the Report:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- The Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
By Product type (Revenue, USD Million, 2018 - 2028)
- Total Hip
- Partial Femoral Head
- Hip Resurfacing
- Revision Hip
By Material type (Revenue, USD Million, 2018 - 2028)
- To provide a comprehensive analysis of the Ceramic Total Hip Prosthesis Industry, thereby providing a detailed structure of the market.
- To provide detailed insights into factors driving and restraining the growth of the Ceramic Total Hip Prosthesis Industry.
- To estimate the market size of each market segment which in turn is responsible for revenue generation of the respective countries.
To provide strategic profiling of key companies present across the globe, and comprehensively analyze their competitiveness/competitive landscape in this market
- To identify business opportunities in the Ceramic Total Hip Prosthesis Market
- To provide a country-wise market forecast for market segments and sub-segments.
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