Hip replacement devices Market was worth USD 5.09 billion in 2016 and estimated to be growing at a CAGR of 3%, to reach USD 5.9 billion by 2021

Hyderabad, India -- (SBWire) -- 03/01/2018 --The Global Hip Replacement Devices Market is anticipated to reach 5.9 billion 2021 from 5.09 billion in 2016. Increasing geriatric population across the globe is projected to boost the demand for hip replacement devices, as the risk of hip fractures and hip bone injuries and infection are high in elderly people. Other prominent factors attributing to the growth of the market are the technological advancements in the field of the artificial hip implant. However, the high cost of these devices coupled with an increase in the risk of complications after surgery are hindering the Market Growth.

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The Metal on Metal segment is the most promising material type in the Global Hip Replacement Devices owing to higher adoption rate. By End Users, the Hospitals accounted for the largest share of the market in 2016. Based on the End Users, the Global Hip Replacement Devices market has been segmented into Ambulatory Surgical Centres, Hospitals, and Orthopaedic Clinics.

Osteoarthritis is a standout amongst the most well-known elements of hip ailments. Structures inside the hip, (for example, the ligament or hard joint surfaces) may get harmed because of abuse, injury, or certain conditions, for example, rheumatoid joint pain, tumors, et cetera.

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North America accounted for the largest share of the Hip Replacement Devices market in 2016, followed by Europe. The large share of the North American Hip Replacement Devices market can be attributed to huge geriatric patient population and increase in the number of sports-related injuries.

Prominent Players operating in the Hip Replacement Devices are B. Braun Melsungen AG, Smith & Nephew, Exactech, Inc., MicroPort Scientific Corporation, DJO Global, Inc., Johnson & Johnson, OMNIlife science, Inc., Stryker Corporation and Zimmer Biomet Holdings, Inc.

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