Hips and Knees Reconstructive Market to Progress at CAGR of 6.4% through 2027; COVID-19 Hinders Market Growth, Opines Future Market Insights Study

The hips and knees reconstructive market is forecasted to progress at an impressive CAGR of 6.4% in terms of value through the period of forecasting between 2017 and 2027. The growth of the market is majorly attributed to the growing adoption of advanced minimally invasive surgical procedures, the development of computer-navigated and robot-assisted surgical procedures, and the emergence of 3D printing technology and smart implants. However, the outbreak of COVID-19 is likely to adversely impact the steady growth of the market owing to changed medical priorities among patients and medical institutions.

“Factors such as rising awareness regarding the availability of effective treatment in both developed and developing countries, increased government spending, and foreign direct investments in emerging economies will continue to fuel the growth of the market through the forecast period,” says the FMI report

Request a Sample Report with Table of Contents and Figures: https://www.futuremarketinsights.com/reports/sample/rep-gb-2717

Key Takeaways

• The global hips and knees market is projected to surge past valuation of US$ 28 Bn by the end of 2027.
• By product type, knee reconstruction segment is forecasted to be valued at US$ 16 Bn by the end of the forecast period.
• Based on the fixation type, cementless fixation is anticipated to account for nearly 30% of the market value by 2027.
• By end-user, hospitals will continue to channel the majority of market share and will rise in value at a CAGR of 6.1%
• North America, Western Europe, and Asia Pacific excluding Japan regions are expected to cumulatively hold over 80% of market value.
• Asia Pacific is projected to register a higher growth rate, expanding at 6.8% CAGR owing to the presence of a large patient-pool.

Hips and Knees Reconstructive Market – Driving Factors

• Technological advancements have enabled the development of advanced computer-navigated and robot-assisted surgical procedures, whose improved efficiency has proven highly fruitful to the growth of the market.
• Increased government investments on healthcare in emerging economies such as India, Malaysia, Indonesia, and Mexico are expected to give a boost to the hips and knees reconstruction market.

Hips and Knees Reconstructive Market – Constraints

• High risk of side effects such as blood clots, change in leg length, dislocation, fractures, infection, and loosening of the implant, are likely to restrain the adoption to an extent.
• The high cost of the procedure coupled with long recovery time is also challenging the market growth.

For any Queries Linked with the Report, Ask an Analyst@ https://www.futuremarketinsights.com/ask-question/rep-gb-2717

Anticipated Market Impact by Coronavirus Outbreak

On the back of the COVID-19 outbreak, which swiftly metamorphosed into a pandemic of unprecedented proportions, healthcare institutions are redirecting their efforts to treat people affected by COVID-19 infection. As a result, several elective procedures, including hip and knee reconstruction, have been postponed to reduce the risk of the novel coronavirus. On this premise, the demand for these procedures has witnessed a steep decline and the downtrend is likely to prevail through 2020.

Competition Landscape

The key players operating in the hips and knees reconstructive market include, but not limited to, Zimmer Biomet, Stryker, DePuy Companies (Sub. Johnson & Johnson Services, Inc.), Smith & Nephew Plc, Exactech, Inc., B. Braun Melsungen AG, MicroPort Scientific Corporation, Limacorporate S.p.A., CeramTec, and ConforMIS. Market players are focusing on improving the efficiency of their products while also keeping them cost-effective, and are working on R&D initiatives to achieve the same.

Buy Now@ https://www.futuremarketinsights.com/checkout/2717

More on the Report

The FMI’s market research report provides in-depth insights into the hips and knees reconstructive market. The market is scrutinized on the basis of product type (hip reconstruction (total hip reconstruction implants: metal-on-polyethylene, metal-on-metal, ceramic-on-polyethylene, ceramic-on-ceramic, others), partial hip reconstruction implants: revision implants, knee reconstruction, total knee reconstruction implants, partial knee reconstruction implants, revision implants)), fixation type (cement, cementless, and hybrid), end-user (hospitals, orthopaedic clinics, and ambulatory surgical centres)across seven major regions (North America, Eastern Europe, Western Europe, Latin America, Asia Pacific Excluding Japan, Japan, and Middle East and Africa).

Explore Wide-ranging Coverage of FMI’s Healthcare Landscape

Orthopaedic Prosthetics Market: Find insights on the orthopaedic prosthetics market with analysis of segments, statistics, influencers, market players, and business strategies adopted over a 10-year forecast period.

Orthopedic Braces And Support Market: FMI’s report on the orthopedic braces and support market offers insights on the market during 2020-2030, including restraints, revenue sources, market leaders, and market strategies.

Hip Kits Market: Read an analysis of the hip kits market with insights on growth factors, opportunities, restraints, regional market forecast, regulatory policies, and strengths of market leaders.

About Future Market Insights (FMI)

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

Contact

Mr. Abhishek Budholiya

Unit No: AU-01-H Gold Tower (AU), Plot No: JLT-PH1-I3A,

Jumeirah Lakes Towers, Dubai,

United Arab Emirates

MARKET ACCESS DMCC Initiative

For Sales Enquiries: sales@futuremarketinsights.com

For Media Enquiries: press@futuremarketinsights.com

Report: https://www.futuremarketinsights.com/reports/hips-and-knees-reconstructive-market

Press Release Source: https://www.futuremarketinsights.com/press-release/hips-and-knees-reconstructive-market

SOURCE: Future Market Insights