Press Release (ePRNews.com) - Dallas, Texas - May 20, 2016 - The global hip replacement implants market is expected to reach USD 6.6 billion by 2022, from USD 5.1 billion in 2015 growing at a CAGR of 3.6% during the forecast period of 2016 to 2022.
The hip replacement implants market is segmented based on product into cemented total hip implant, cement free total hip implant, partial femoral head implant, hip resurfacing, and revision hip implants. The report covers the market value (USD), implant volume (units) and, average selling prices and their trends till 2022. In 2015, cement free total hip implants sales dominate this market with approximately 65% share of the hip replacement implants market. In terms of implant volume cement free total hip implants is expected to dominate the market in 2016, with a share of 72.1% of the global hip replacement market. Revision hip implants are costliest among all implants, while partial femoral head implant is among the cheapest though prices vary from brand to brand.
Based on end user the hip replacement implants market is segmented into orthopedic clinics, hospitals and surgery centers. In 2015, Hospitals is expected to dominate the end users segment with a share of approximately 73%, due to nature of these surgeries being mostly inpatient. Surgery centers are common in developed countries such as U.S., Canada, Germany, France, Japan and some other countries, but in developing countries still hospitals are the only end users taking up this surgery. Hip replacement surgeries in orthopedic clinics are not common as well due to the requirements of anesthesia monitoring, and patients generally being admitted post-surgery.
The report includes surgery numbers by type such as total hip replacement, partial hip replacement, revision hip replacement and, hip resurfacing. In 2015, in U.S. approximately 345,000 total hip replacement surgeries were performed using implants. Revision hip replacement surgeries are expected to grow at a highest CAGR of 2.1% in the forecast period. The report also covers the prevalence, incidence and patient volumes for osteoarthritis, osteoporosis and, rheumatoid arthritis forecast to 2022, for all 52 countries covered in the report.
Based on geography the report covers data points for 52 countries across multiple geographies namely North & South America, Europe, Asia-Pacific and, Middle East & Africa. Some of the major countries covered in this report are U.S., Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa and, Brazil among others. U.S. dominate the global hip replacement market with a share of 41.2% in 2015, owing to the rising pool of arthritis patient full reimbursements of these surgeries through government and non-government healthcare payers. Though the market is expected to face a crisis in U.S. as value based reimbursements are expected to reduce margins for healthcare providers, which in turns will put pricing pressure on manufacturers of hip implants. It is expected in U.S. the CJR initiative will impact negatively on the market as it may discourage hip replacement procedures, for patients who may lead to complications due to comorbidities, and post-surgery may require long rehabilitation. While the European countries are expected to grow in the future due to the government initiatives rising pool of geriatric and arthritis population. In France the increasing number of hip fractures due to osteoporosis is also a major cause of hip replacement procedures. Hip fractures are the causative of highest morbidity and mortality rates up to 20 to 24% after first year of hip fractures. According to International Osteoporosis Foundation out of all fractures in France about 61% were for hip. Zimmer Biomet dominates the market for hip replacement implants and is expected to maintain the leader’s position in the forecast years.
In U.S. as discussed earlier in the article due to value based reimbursements putting the pressure on manufacturers. Zimmer Biomet obtains majority of their revenue from hip replacement implants, so is expected to face costing challenges in near future. While it’s profits from the sales of Biomet is expected to offset some of the pressure. Apart from price decline manufacturers may face a decrease in number of surgeries as providers will look for value in surgeries, and will only suggest surgeries to people those can benefit from it.
The report scope includes hip replacement market competitive landscape for all major countries. Market shares are provided to manufacturers based on market trends and futuristic approaches and strategies used by them is also explained in the report. The company profiles segment also includes pipeline analysis, SWOT analysis, mergers and acquisitions, new product launch and other recent developments. Some of the major players operating in this market are Zimmer Biomet, Depuy Synthes, Stryker, Smith and Nephew, B.Braun Melsungen AG, Corin, Waldemer Link GmbH & Co. KG, Wright Medical N.V., Arthrex, Inc., ConforMIS, Corentec, Elite Surgical Supplies (PTY) Ltd, Euros France, Evolutis, FH Orthopedics, Integra LifeSciences, Lima Corporate, Medacta, Ortosintese, Peter Brehm, Shanghai MicroPort Orthopedics, Surgival, Synergie Ingénierie Médicale, Wright Medical, N.V., Tecomet and, DJO Global among others.
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