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Artificial Hip Joint Market Next Big Thing : Major Market Players Are Johnson and Johnson, Stryker Corporation, B. Braun, Zimmer Biomet Holdings

Artificial Hip Joint Market Size, Share & Segment By Product Type (Primary Hip Replacement Device, Partial Hip Replacement Device, Revision Hip Replacement, Hip Resurfacing), By Material (Metal On Plastic, Ceramic On Plastic,Cermaic On Ceramic, Others), By Fixation (Cemented Fixation,Cementless Fixation, Hydrib Fixation), By End Use(Hospital, Ambulance, Orthopedic Clinic), By Region | Global Market Forecast 2022-2028

 

Pune, Maharashtra -- (SBWIRE) -- 08/16/2022 -- Market Overview, Definition, and Statistics
A hip replacement is a surgical operation in which an artificial prosthetic implant is used to replace the hip joint. Hip arthroplasty is the name of the procedure. The operation is typically performed to treat physical hip joint damage and hip fractures as well as to relieve joint pain. An entire hip replacement or a partial hip replacement can be performed during hip replacement surgery. The integration of online tools for patients who underwent hip surgical procedures is one of the key trends in the development of the artificial hip joint market. Medical care associations are rapidly expanding their initiatives, and it is believed that increased market awareness of internet resources will provide lucrative learning opportunities.
According to the recent research report by SNS Insider, the artificial hip joint market is projected to reach USD 9.91 billion in 2028, with a steady CAGR of 5.3% during the forecast period of 2022–2028.

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Drivers, Restraints, Opportunities, and Challenges
The artificial hip joint market is anticipated to develop as more knee arthroplasty surgeries are performed. Over the forecast period, an increase in the prevalence of musculoskeletal problems is anticipated to boost market growth for hip replacements worldwide. The growing geriatric population is anticipated to provide competitors in the worldwide hip replacement market with lucrative growth prospects. Market development has been aided by the rising incidence of osteoporosis and hip arthritis as well as the ageing population. Because osteoarthritis cases are rising as the population ages, hip replacements for older people are a beneficial treatment. Therefore, hip replacement design is prioritized by device manufacturers to imitate the body's natural mobility.
The number of substitute medical procedures is rapidly increasing. However, one major factor that can undoubtedly impede the growth of the global market in the anticipated years is the complexity associated with the use of embed.

Impact of the COVID-19 Pandemic
The ongoing COVID-19 epidemic is a serious threat to everyone's health. The variety of hip arthroplasty techniques has been negatively impacted by this pandemic. One of the excellent factors causing less surgeries is the high risk of COVID-19 contamination necessary during the procedure combined with an increase in COVID-19 patient confirmations in clinics. However, due to the declining number of COVID-19 patients in some districts and the implementation of standard operating procedures in medical care offices, the business is prepared to witness essential development. The government initiatives to provide osteoarthritis sufferers with clinical crisis treatment have aided in the growth of the economy.

Market Segmentation
By Product type
1.Primary Hip Replacement Devices
2.Partial Hip Replacement Devices
3.Revision Hip Replacement Devices
4.Hip Resurfacing Devices

By Material type
1.Metal-on-plastic
2.Ceramic-on-plastic
3.Ceramic-on-ceramic
4.Others

By Fixation Material
1.Cemented Fixation
2.Cementless Fixation
3.Hybrid Fixation

By End Use
1.Hospitals
2.Ambulatory Surgical Centers
3.Orthopedic clinics
4.Others

The metal-on-polyethene segment will rule the global artificial hip joint market in terms of material due to the frequency of joint problems in developing nations and the rising elderly population. In the upcoming years, however, postoperative complications and inflammatory reactions may have a muted impact on this segment's growth.
Hospitals held a sizable market share by end-user due to the increased hip implants these facilities conducted. A medical center's expansion is further accelerated by its access to cutting-edge technology and qualified medical staff. The development of cutting-edge surgical techniques is also being helped by the partnership between hospitals and businesses.

Regional Analysis
In the upcoming years, the European region will gain higher market share thanks to a growth in the availability of hip replacement prostheses, an increase in strategic alliances among market vendors, and the introduction of innovative products. On the other hand, the Asia Pacific artificial hip joint market, which serves the majority of the region's senior population, anticipates experiencing significant growth over the course of the projected period due to the rising prevalence of hip osteoarthritis.

Competitive Landscape Outlook
Some of the leading players present in the artificial hip joint market are Smith and Nephew, MicroPort Scientific Corporation, Stryker Corporation, Global, Exactech, Johnson and Johnson, DJO, B. Braun, and Zimmer Biomet Holdings.

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