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Hip Resurfacing Implants Market is Set to Garner Staggering Revenues by 2021
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Healthcare professionals prefer hip resurfacing surgery over total hip replacement surgery due to advantages of this technique over total hip replacement surgery. Preference given by healthcare professionals to hip resurfacing surgery and innovations in the hip surgery industry is driving the growth of hip resurfacing implants market. While high standards for approval of any new product to launch into the market, emerging alternative technologies and intense competition between market players are restraining growth of this market.
Mergers and acquisitions taking place in the market is one of the major developmental feature of hip resurfacing implants market that has resulted into intensive market consolidation and high competitive rivalry among the existing players.
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Based on the type of location to fix the implant, hip resurfacing implant markets is segmented as follows: Femur and Pelvis socket. Geographically, the global hip resurfacing implants market is segmented as follows: North America, Europe, Asia Pacific and Rest of the World.
Currently, North America dominates the hip resurfacing implants market followed by Europe. The European hip resurfacing implants market is growing at slower rate due to ongoing economic upsets in the region. Asia-Pacific is a lucrative region market considering factors such as increasing healthcare spending and improving healthcare infrastructure.
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Some of the major companies contributing to global hip resurfacing implants market are DePuy Orthopaedics, Inc., Medtronic, Inc., Biomet, Inc., Acumed LLC, Biotronic and Smith and Nephew Plc.
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