HIP Replacement Devices Market

According to the new market research report "HIP Replacement Devices Market by Product (Primary Hip Reconstruction Devices (Cemented, Cementless), Partial Hip Reconstruction Devices, Revision Hip Reconstruction Devices, HIP Resurfacing), Geography (Americas, EU-5, Japan, BRIC, South-East Asia, MEA) - Forecast", published by MarketsandMarkets™, the global market report defines and segments the market with analysis and forecast of revenue. The Global HIP Replacement Devices Market is estimated to reach USD 5.9 Billion, at a CAGR of 3.0%

The government initiative of allocating new funds and development of new policies have reduced the waiting time for hip reconstructions, and increased the number of operations. However, it is difficult to achieve 90% threshold of patients that receive care within the regulated time.

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The technological advancements in hip reconstruction market, such as newly developed prostheses with improved strength and reliability of joints are reducing the need and cost of revision surgery. The minimally invasive techniques for hip reconstruction surgery will improve the precision and accuracy of surgeons, thus reducing the time of surgery. The emergence of these techniques and other improved surgical tools for the treatment of arthritis is expected to address the rising demand for surgery during the forecast period.

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In 2014, the global HIP Replacement Devices Market was dominated by North America. This market is segmented and forecast on the basis of product, and geography. The product comprises of primary hip reconstruction devices, partial hip reconstruction devices, revision hip reconstruction devices and hip resurfacing devices. The primary hip reconstruction devices are subsegmented into cementless and cemented reconstruction device. The market is further segmented and forecast on the basis of major geographies such as North America, Europe, and Asia-Pacific. These major geographies are further sub-segmented into major countries.

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The major players operating in hip reconstruction devices market are Zimmer Inc. (U.S.), DePuy Synthes (U.S.), Stryker (U.K.), and Smith & Nephew (U.K.), B. Braun Melsungen AG (Germany), Corin (U.K.), and Waldemar LINK GmbH & Co. KG (Germany).