Customization of Implants, Decline in Post-operation Discomfort to Drive Hip Replacement Implants Market at CAGR of 4% during Forecast Period, Says TMR

ALBANY, N.Y., July 29, 2021 /PRNewswire/ -- Hip replacements assist millions of patients regain mobility and relief from joint discomfort; however, the surgery takes few months of recovery. Hip implants are for mobility rehabilitation, and assist in restoring functionalities of hip joint following an injury or an accident. The process of bone deterioration can be slowed down with the help of hip replacement implants. In an effort to develop risk-free operations, emphasis has been laid on customized solutions. Several factors, such as age, sex, and weight of a person has to be taken into consideration while developing customized hip replacement implants. This factor is likely to work in favor of the global hip replacement implants market during the forecast period from 2021 to 2031.

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The global hip replacement implants market is projected to cross the value of US$ 7.2 Bn through 2031, and the market is expected to expand at a CAGR of 4.4% from 2021 to 2031. Hip replacement surgery, also known as total hip arthroscopy, is a procedure wherein a specialist substitutes anon-functioning or improperly functioning jointwith a prosthetics. Bone degeneration caused due to osteonecrosis, traumatic arthritis, rheumatoid arthritis, accidental injuries, and osteoarthritis serves as the primary reason for the hip replacement surgery.

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Key Findings of Market Report

  • Use of Advanced Materials to Develop Hip Replacements Implants to Support Market Growth

Alloys, polymers, and other materials have traditionally been utilized to make hip replacement implants. These days, surgeons are using hip implants made of materials such as advanced plastics and ceramic. Moreover, the use of advanced materials, including cross-linked polyethylene sockets in conjunction with metal or ceramic metal femoral heads are becoming more widely available, thereby offering new, advanced products to the patients. An alternate material that can be used as a new treatment pattern for acetabular cup articulation surfacesis highly cross-linked linear polyethylene. New materials for use in hip replacement implants are adopted quickly, which compels manufacturers to expand their product offerings.Thus, new materials for hip implants are likely to widen the scope of the growth for the global hip replacement implants market in the near future.

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  • Marketing of Customized Implants Through Advertising Platforms to Raise Awareness among Patients

Manufacturers of orthopedicproducts are now marketing products directly to the clients through advertisements. Prominent players are benefiting from telemarketing, newspapers, advertisements in magazines, and pamphlets distributed at clinics and hospitals. Advertisements affect the preferences of patients who want to customize hip implants before their surgery.This will help in lowering discomfort and pain.

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Hip Replacement Implants Market: Growth Drivers

  • Growing elderly population leads to frequent joint disorders. The gradual degeneration of bones occurs as result of such disorders and age. This factor is likely to fuel the demand for metal-on-polyethylene hip replacement implants in the global market.
  • Demand for hip replacements in Asia Pacific is driven by increase in total hip implant surgeries due to increased knowledge about reconstructive operations. In nations such as Japan, South Korea, Singapore, China, and India, there is a significant demand for hip replacement surgeries. The need for better quality hip implants in Asia Pacific is expected to rise due to the increasing affordability of customized hip replacement implant in the region.

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Hip Replacement Implants Market: Key Competitors

  • MicroPort Scientific Corporation
  • DePuy Synthes Companies (Johnson & Johnson)
  • B. Braun Melsungen AG
  • Wright Medical Group
  • OMNIlife science, Inc.
  • Smith & Nephew plc,

Hip Replacement Implants Market: Segmentation

Product

  • Total Hip Replacement Implants
  • Partial Hip Replacement Implants
  • Hip Resurfacing Implants
  • Revision Hip Replacement Implants

Material

  • Metal-on-metal
  • Metal-on-polyethylene
  • Ceramic-on-metal
  • Ceramic-on-polyethylene
  • Ceramic-on-ceramic

End User

  • Hospitals
  • Ambulatory Surgery Centers
  • Orthopedic Clinics

Modernization of healthcare in terms of both infrastructure and services have pushed the healthcare industry to new heights, Stay Updated with Latest Healthcare Industry Research Reports by Transparency Market Research:

Orthopedic Implants Market: Orthopedic implants are used to prevent and treat deformities and injuries of the musculoskeletal system. In terms of revenue, the global orthopedic implants market is projected to expand at a CAGR of 4.4% from 2018 to 2026. Developments in anesthesia techniques, rise in adoption of minimally invasive procedures, increase in incidence rate of injuries, surge in geriatric population, and rise in adoption of technologically advanced products to treat musculoskeletal disorders are likely to drive the market

Hip Reconstruction Devices Market: The increasing incidence of hip injuries and fractures, osteoarthritis, and wearing down of joints over time in aged people has fueled the need to reconstruct their hip joints, which is reflecting significantly over the demand for hip reconstruction devices.

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