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Hip implants are medical devices which are used to restore motility and relieve the pain related to arthritis or hip injuries and diseases such as osteonecrosis. Hip implants possess a unique device design feature such as size, shape, material and dimensions. The factors that influence the outcome and longevity of a hip implant device are the device design features, implantation technique and individual patient characteristics such as age, sex, weight, activity level, and overall health.

Global Hip Implant Market - Dynamics

Growing geriatric population which is prone to osteoarthritis, and hip fractures, is likely to propel the growth of the hip implants market over the forecast period. For instance, the World Health Organization reported that during 2015-16, nearly 18.0% women and 9.6% men aged 60 years and above had symptomatic osteoarthritis. According to the Australian Institute of Health and Welfare, 2015-16, nearly 18,700 new hip fractures were reported in Australians aged 45 years and above.

Moreover, launches and approvals of various new hip implants are also expected to drive the market growth in near future. For instance, in October 2017, DePuy Synthes announced the first polymethylmethacrylate (PMMA) cement along with the TFNA system which is used to provide improved implant fixation of the hip in cases where potential risk of cut out is significant. Furthermore, in 2018, DePuy Synthes acquired Medical Enterprises Distribution LLC including the orthopedics assets of ME1000, a surgical impactor used in total hip replacement surgery.

Global Hip Implant Market - Regional Insights

On the basis of region, the global hip implant market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America holds the dominant position in the global hip implant market owing to launch and approvals of new hip replacement implants. For instance, in March 2018, the United Orthopedic Corporation, a designer, manufacturer and distributor of orthopedic implants and instruments, announced the launch of UTS (United Tri-tapered Short Stem) hip stem at the American Academy of Orthopedic Surgeons Annual Meeting in New Orleans, U.S. The UTS hip stem is designed for easier insertion through small incisions and it facilitates less invasive surgeries.

Europe is also expected to witness significant growth in the hip implants market due to high prevalence of hip fractures. For instance, according to the National Hip Fracture Database Annual Report 2018, nearly 76,000 cases of hip fractures are reported each year in the U.K.

Global Hip Implant Market - Competitive Landscape

Moreover, key players in the market are focused on developing new products, in order to enhance their market share. For instance, in 2017, Croin Group launched the Optimized Positioning System (OPS) at the American Academy of Orthopedic Surgeons (AAOS) in San Diego, U.S. The system helps in determining the best positioning of an implant and its components during hip replacement surgery on the basis of patient’s movements during daily activities.

Some of the key players operating in the global hip implant market include Stryker, Depuy Synthes, B.Braun Melsungen, Boston Scientific Corporation, Wright Medical N.V., Hip Innovation Technology LLC., Johnson and Johnson, MicroPort Scientific, Smith and Nephew, Zimmer Biomet, and DJO Global.

Global Hip Implant Market - Market Taxonomy

On the basis of component type, the global hip implant market is segmented into:

  • Acetabular Component
  • Femoral Component

On the basis of material type, the global hip implant market is segmented into:

  • Metal on Polyethylene
  • Ceramic on Polyethylene
  • Ceramic on Ceramic
  • Ceramic on Metal
  • Metal on Metal

On the basis of end user, the global hip implant market is segmented into:

  • Hospitals
  • Surgery Centers
  • Orthopedic Clinics

On the basis of region, the global hip implant market is segmented into:

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East
  • Africa

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

Data Triangulation Methodology | Coherent Market Insights

Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.

Market Analysis | Coherent Market Insights

Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users

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