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Follow on Google News | Hip Resurfacing Implants - Global Pipeline AnalysisGlobal Hip Resurfacing Implants Market is Forecast to Reach About $658m by 2017
By: Rajesh Gunnam a Compound Annual Growth Rate (CAGR) of 7% to reach $653m in 2017. The market is expected to be driven by increasing patient population, increased adoption of minimal invasive procedures, and product innovation. Studies published in the Journal of Clinical Geriatric Medicine entitled Epidemiology of Osteoarthritis show that old age, being overweight or obese, bone density, muscle weakness, and joint laxity all play roles in the development of hip osteoarthritis (OA), particularly in the weight-bearing joints. Direct-to-consumer campaigns by leading implant manufacturers have also drastically improved patient awareness about treatment options, shifting the mindset of patients who no longer want to bear the discomfort of pain. The result is more patients opting for surgery in order to lead a more active lifestyle. The US market for hip resurfacing implants was valued at $146.5m in 2010, and is forecast to grow at a CAGR of 7% to reach $237m in 2017. Surgical procedures such as hip resurfacing are gaining popularity over traditional hip replacement, as they conserve the undamaged portion of the bone. They have shown good medium-term outcomes and are conducive to quick recovery and rehabilitation, as well as inflicting less pain. According to a survey conducted by the hip society, the number of hip arthroplasty procedures in the US grew by 2% in 2009 to 444,600 procedures, of which 4% were hip resurfacings. For Sample Pages, please click or add the below link to your browser: http://www.globaldata.com/ Smith & Nephew Plc and Stryker Corporation are the global leaders in the hip resurfacing implants market, with revenues of $200m, constituting 56% of the market share in 2009. DePuy Inc (12%), Wright Medical (9%) and Biomet Inc (7%) also have significant share in the global hip resurfacing implants market. Zimmer’s and DePuy’s product portfolios have become weak after the recall of the Durom Cup and the ASR hip resurfacing system in 2008 and 2010. Depuy’s product portfolio has only the ADEPT hip resurfacing system, after the acquisition of Finsbury Orthopedics in 2009. Emerging technologies such as minimally invasive hip resurfacing procedures, the role of computer aided navigation of hip resurfacing procedures, bearing surface technology, and the benefits of using crosslinked polyethylene for low wear and reduced osteolysis are contributing to the increase in the number of hip resurfacing procedures in younger patients. Presently, due to the limited lifespan of the artificial joint, young people who are under the age of 40 are generally not recommended surgery, since they will outlive the implant. With superior implant materials increasing the durability, an increasing number of young patients are now choosing the surgery option. Advanced designs have led to the development of high joint stability and functionality, which provide a much better degree of movement. These technological improvements, aimed at returning the maximum degree of function to joints, have made surgery a more viable option for young, active patients. GlobalData’s new report, “Hip Resurfacing Implants - Global Pipeline Analysis, Competitive Landscape and Market Forecasts to 2017” provides key data, information and analysis on the global hip resurfacing implants market. The report provides market landscape, competitive landscape and market trends information on the hip resurfacing implants market. The report provides comprehensive information on the key trends affecting the market, and key analytical content on the market dynamics. The report also reviews the competitive landscape and technology offerings This report is built using data and information sourced from proprietary databases, primary and secondary research and in-house analysis by Global Data’s team of industry experts. For further details, please click or add the below link to your browser: http://www.globaldata.com/ Visit our report store: http://www.globaldata.com For more details contact: pressreleases@ North America: +1 646 395 5477 Europe: Asia Pacific: # # # GlobalData is a UK-based company with presence across North America, Europe and Asia Pacific and has a broad product offering that ranges from interactive databases, reports and custom solutions. It is a comprehensive source of insights and analysis with coverage including oil & gas, power, alternative energy, nuclear power, petrochemicals, medical equipment and healthcare industries End
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