Hips & Knees Reconstructive Market is projected to expand at a CAGR of 6.4% through 2027: FMI
Future Market Insights (FMI) delivers key insights on the global hips & knees reconstructive market in its upcoming report titled “Hips & Knees Reconstructive Market: Global Industry Analysis and Opportunity Assessment (2017 – 2027)”. In terms of revenue, the global hips & knees reconstructive market is projected to register a CAGR of 6.4% over the forecast period, owing to various factors regarding which FMI offers detailed insights and information in this report. A key trend witnessed in the global hips & knees reconstructive market is that manufacturers are focussing on new product innovations that are driving technological advancements, but are also cost effective. Globally, surgeons are adopting new minimally invasive surgical procedures, computer-navigated and robot-assisted surgical procedures, 3D printing technology and smart implants, which will have a significant impact on the overall growth of the global hips & knees reconstructive market.
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Global Hips & Knees Reconstructive Market: Segmental Forecast
The global hips & knees reconstructive market is segmented based on product type, fixation type, end user and region. Based on product type, the market segmented into hip and knee reconstruction. The fixation type is segmented into cement, cementless and hybrid fixations. Total hip and knee reconstruction is the leading product type segment in the global hips & knees reconstructive market over the forecast period. The knee reconstruction segment is estimated to be valued at US$ 8,719.9 Mn by 2017 end and is projected to be valued at US$ 16,653.2 Mn by 2027 end, growing at a CAGR of 6.8% during the forecast period. The hip reconstruction segment is expected to be the second most lucrative segment in the global hips & knees reconstructive market, with an attractiveness index of 0.8 during the forecast period.
Based on fixation type, cementless fixation is the leading segment in the global hips & knees reconstructive market over the forecast period. The hybrid segment accounted for 28.1% value share in 2016 and is projected to account for 29.9% share by 2027 end. It is the second most attractive segment in the global hips & knees reconstructive market with an attractiveness index of 1.0 during the forecast period.
By end user, the market is segmented into hospitals, orthopaedic clinics, and ambulatory surgical centres. Hospitals is the leading segment in the global hips & knees reconstructive market over the forecast period. Demand for hip and knee reconstruction is expected to be the highest in hospitals, and this segment is projected to register a CAGR of 6.1 % over the forecast period.
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Global Hips & Knees Reconstructive Market: Regional Forecast
North America is expected to gain popularity over the forecast period, driven by an increasing geriatric population requiring hip and knee reconstruction. The North America market is predicted to dominate the global hips & knees reconstructive market, accounting for a maximum revenue share of the market by 2017 end. The North America, Western Europe, and Asia Pacific excluding Japan markets are collectively expected to account for around 79% of the global hips & knees reconstructive market value share by 2017 end. Revenue from the market in APEJ is estimated to expand at a CAGR of 6.8% over the forecast period.
Some of the key hips & knees reconstructive market players covered in the report include 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. In this report, we have discussed the individual strategies followed by these companies regarding bringing improvements in their products, creating new manufacturing facilities, market consolidation and advanced R&D initiatives. The report concludes with key takeaways for players already present in the market and new players planning to enter the market.
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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.
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