Industry Stakeholders in Hip Replacement Implants Market Aim at Implant Modifications to Improve Outcomes in Total Hip Arthroplasty (THA): TMR

- Prevalence of hip-related disorders in geriatrics increase the target consumer for implant manufacturers, companies focusing on implant designs and materials

- Valuation of hip replacement implants market to touch mark of ~US$ 9.0 Bn by 2026, governments in Asia Pacific geared toward to increase affordability of hip surgeries

ALBANY, N.Y., March 18, 2021 /PRNewswire/ -- Hip replacements are surgeries for various hip disorders and have gained prominence as a surgery of quite satisfactory clinical outcomes. Modifications in hip replacement implants have thus gained groundswell of attention for implant manufacturers and healthcare teams. In particular, the implants have improved the quality of life in adults with older osteoporosis, and Osteoarthritis (OA). In recent decades, such product advancements have gathered momentum on back of growing demand for total hip arthroplasty (THA). These have been viewed as surgeries with remarkable outcomes. Other factors such as advancements in surgical techniques and the focus on reducing the revision rates have all contributed to the evolution of the hip replacement implants market. Both metals and non-metals may be used in making implants. However, over the years, the use of non-metals such as ceramic has gained preference as it has enabled healthcare teams to overcome the drawbacks associated with metals. As the raw material, metal-on-polyethylene was a popular segment in 2017.

Growing number of hip reconstruction procedures is expected to propel the hip replacement implants market. The global valuation is projected to reach worth of ~US$ 9.0 Bn by 2026-end.

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Key Findings of Hip Replacement Implants Market Study

• Manufacturers Relentlessly Aiming at Implant Modifications to Improve Outcomes

Implant manufacturers are relentlessly aiming to reduce the early and late-stage failures in hip replacement surgeries. They are in particular striving to overcome the drawbacks or limitations that lead to failure of their products. A growing number of stakeholders are focusing on overcoming failures due to wear, aseptic loosening, dislocation, adverse reactions to metal debris, and bearings. They are aiming at new geometries and use of better bearings to specially meet the needs of patients with THA.

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• Demand for Total hip arthroplasty (THA) for End-stage Hip Ailments High

The growing demand for hip replacement surgeries in older adults with end stages of hip pathology is a key trend in the market. The trend is increasing on back of increased life expectancy in developed as well as developing nations. A number of products have been approved, especially in developed nations, to cater to the need for cutting-edge surgical technique for THA. Orthopedic surgeons are keenly focusing on patient-related factors to improve the outcomes.

• Government Initiatives to Improve Healthcare Outcomes Fueling R&D Expenditure

Rise in medical spending for improving healthcare outcomes in general in developing economies is boosting the prospective demand for hip replacement implants. Governments in such countries are focused on improving the affordability of care for patients with hip disorders, Thus, implant manufacturers are witnessing high scope of commercialization of their products in some developing economies, notably in Asia Pacific.

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Hip Replacement Implants Market: Key Drivers and Future Avenues

• Rise in elderly populations in several countries around the world has bolstered the demand for minimally-invasive hip replacement and hip construction surgeries
• Increasing incidence and marked prevalence of osteoarthritis (OA) favouring the evolution of the hip replacement implants market
• Prevalence of obesity and other forms of arthritis also expanding the target population for the market

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Hip Replacement Implants Market: Regional Dynamics

• High prevalence of arthritis and presence of a well-established healthcare team in orthopedics in the U.S. makes North America substantially lucrative market
• Rise in aging population and improvements in healthcare infrastructures in numerous emerging economies in Asia Pacific makes this region an incredible avenue for growth
• Rapidly increasing R&D expenditure on the back of governments' support boosting the growth of the Asia Pacific market.

Explore Transparency Market Research's award-winning coverage of the global Healthcare Industry:

Orthopedic Implants Market: https://www.transparencymarketresearch.com/orthopedic-implants-market.html

Hip Reconstruction Devices Market: https://www.transparencymarketresearch.com/hip-reconstruction-devices-market.html

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