DEMAND FOR HIP IMPLANTS GOES UPMay 8, 2021
The revenue of the global hip replacement implants market is projected to reach a worth of ~US$ 9.0 billion by 2026-end, surpassing CAGR of 3.5% from 2018 to 2026, according to Transparency Market Research.
The research stated that advances in implant materials, techniques adopted by surgeons, and the advent of new designs to overcome the limitations with the predecessors are the key aspects of increased surgical outcomes with total hip arthroplasty (THA).
The rise in awareness about clinical options available in total hip replacement has helped boost the valuation of the hip replacement implants market over the years. As a result of constant technological advancements, revision rates have declined in various healthcare systems.
The prevalence of orthopaedic injuries has grown in various countries over the decades. A great deal of this epidemiological trend has stemmed from the rise in elderly populations in developed and emerging economies worldwide.
“Improvement in healthcare infrastructure is a key aspect in bolstering the demand. Governments have a key role in boosting the affordability in larger populations for developing and emerging economies, such as in Asia,” the study said.
The rise in demand for partial hip replacement implants in younger adults who have suffered from traumatic falls or injuries is a key trend. New designs have come to the market that promise to meet the needs of younger adults to help them regain mobility and engage in different physical activities, stated study.