According to the latest study titled ‘Global Knee and Hip Replacement Market : World Market Review By Type of Replacement, By Material, By Fixation Procedure, By Region, By Country: Opportunities and Forecast (2014-2024) - By Region (North America, Europe, Asia Pacific, South America, and Middle East & Africa), By Country (U.S, Canada, Germany, France, U.K., Italy, Spain Japan, China, India, UAE)’ available at MarketStudyReport.com, the global knee and hip replacement market is estimated to grow with a CAGR of 3.3% through 2024.
With the increase in occurrence of diseases such as rheumatoid arthritis, osteoarthritis, DDH, and damage of knee and hip joints, knee and hip replacement market is witnessing considerable growth in recent years. Factors such as reduced cost of treatment and rise in the geriatric population susceptible to the aforementioned diseases may propel the market trends. The occurrence of lifestyle diseases such as obesity, in tandem with the advancement in healthcare technology, viz., upgraded implants and surgical procedures, and the surge in the number of orthopedic facilities will also provide momentum to the growth of knee and hip replacement market.
Moreover, rising penetration rates of medical insurance and beneficial subsidies by governments on implants and surgical procedures are also the key factors responsible for the growth of the knee and hip replacement market. The study encompasses details about segmental shares, and expansion strategies adopted by manufacturers, alongside the challenges, drivers, trends, and restraints impacting the market growth.
Based on replacement type, the knee and hip replacement market is divided into partial knee replacement, total knee replacement, and revision knee replacement. While based on material type, the industry is segmented into ceramics, plastics, and metal alloys.
Speaking of fixation procedures, the knee and hip replacement market is split into cemented fixation, hybrid fixation, and cementless fixations. In terms of surgical approaches, the industry is categorized as anterolateral approach, direct anterior approach, and posterolateral approach.
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Considering the topographical landscape, the knee and hip replacement market is fragmented into regions as Europe, North America, Asia Pacific, Middle East & Africa and South America.
Some of the vendors that operate in knee and hip replacement market are Smith and Nephew Plc, Zimmer Biomet Holdings Inc., DePuy Synthes, Stryker Corporation, Exactech Inc., MicroPort, B Braun Melsungen AG, and Corin Group.
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