Hip Replacement Market is Expected to Register a Considerable Growth by 2028
Stratview Research has recently published a new research report on the Hip Replacement Market that is segmented by Product (Total Hip Replacement Implant, Partial Hip Replacement Implant, Hip Resurfacing Implant, Revision Hip Replacement Implant), End-User (Hospitals, Orthopedics Clinics, Ambulatory Surgical Centers), and Region - COVID-19 Impact Analysis and Forecast to 2028.
Hip replacement is defined as a surgical procedure to replace a hip joint with a prosthetic implant. The surgery can be performed either as a total replacement or hemi (half) replacement. The surgery is performed to relieve pain caused due to arthritis or fracture in the hip bone. Based on the product, hip replacement can be categorized as total hip replacement implant, partial hip replacement implant, hip resurfacing implant, and revision hip replacement implant.
Market Dynamics
The growth of the hip replacement market is primarily driven by the rising number of people suffering from arthritis and obesity. Expanding geriatric population and increasing incidences of accidental injuries are expected to propel the market growth at a significant rate during the review period.
Additionally, increasing spending on R&D activities to advanced hip implant procedures is likely to create lucrative opportunities for the market players during the review period. However, the high cost of hip replacement and lack of awareness among consumers regarding hip replacement in rural areas is likely to hamper the market growth.
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