Hip Resurfacing Implants Market to Reach US$ 195 Million by 2025
Albany, NY -- (SBWIRE) -- 02/01/2018 -- A new insightful study based on Hip Resurfacing Implants titled "Global Market Study on Hip Resurfacing Implants: Tin Coated Segment by Material Type Anticipated to Showcase Lowest Market Valuation By 2025 End" has recently been added into the database of Market Research Reports Search Engine (MRRSE). According to the study, an estimated 2.7% CAGR is expected to be exhibited by the global hip resurfacing implants market during the assessment period from 2017 to 2025. In value, the global market is projected to reach nearly US$ 200 Mn by the end of 2025.
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The report outlines the key factors for the sluggish growth of the hip resurfacing implants market. Product failure and recall have been identified as among the key factors for the decreasing confidence among healthcare providers and consumers in this segment. Advances in hip resurfacing technology has also led to the availability of more feasible devices and treatment methods, which has further led to a decline in the market growth. The combination of these factors is likely to impede the growth of the market during the assessment period.
The global hip resurfacing implants market has been divided into various segments and sub-segments for in-depth analysis. These segments are material type, end user and region. By material type segment, the global market has been sub-segmented as cobalt chromium alloy, hybrid alloy (cobalt + titanium) and tin coated. The end user segment has been bifurcated into ambulatory surgical center, hospitals and orthopedic clinics. Geographically, the global market is divided into key regions which are North America, Europe, Latin America, Asia Pacific and Middle East and Africa.
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The report also offers detailed segmentation and analysis on the product segment, highlighting that cobalt chromium alloys and hybrid alloys are among the most widely used materials in the hip resurfacing implants market. Currently, hybrid alloys have a larger share of the two, and it is likely that this segment will continue to grow at a steady pace during the assessment period.
North America is one of the most prominent regions for hip resurfacing implants market. The growth of the market in North America is led by the US, whereas Canada accounts for a miniscule revenue share of the market. Demand for hip resurfacing implants has also grown in Asia Pacific, but their high cost has deterred a large population base from buying them.
Some of the major companies are Zimmer Biomet Holdings, Inc., MicroPort Scientific Corporation, BioPro, MatOrtho Limited, Smith & Nephew, Corin Group Plc and Implantcast GmBH.
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