Acetabular Prostheses Market: Introduction
- Acetabular system is a highly flexible solution that provides the ability to treat patients suffering from orthopedic diseases. Acetabular cup is a type of implant that is placed in hip sockets. This cup helps in restoring the posture and shape of the hip, and holds tremendous utility for people who have suffered hip injuries.
- Rise in demand for acetabular prosthesis owing to increase in advancements in the field of prosthetics, medical implants, and bone replacement is projected to boost the growth of the global acetabular prostheses market
Key Drivers and Opportunities of Global Acetabular Prostheses Market
- Increase in incidence of hip osteoarthritis and hip fractures is anticipated to fuel the growth of the global acetabular prostheses market. Nearly 1.7 million hip fractures occur across the world each year. Hip fracture is quite common among women with osteoporosis. Hence, rise in prevalence of osteoporosis, osteoarthritis, rheumatoid arthritis, and trauma is expected to drive the global market.
- Old age, accidents, and strenuous activities are the risk factors for hip injuries. Hence, increase in geriatric population and rise in number of road accidents are likely to propel the global market. Rise in the emphasis on quality care is projected to augment the market.
- Increase in awareness about the use of acetabular prosthesis and rise in the spending capacity of the population are anticipated to boost the growth of the global acetabular prostheses market. Moreover, growth of the market is attributed to gradual increase in the number of hip replacement surgeries in hospitals and ambulatory surgical centers.
- Focus on treatment of musculoskeletal disorders creates significant opportunity in the market. Moreover, governments in developing countries are making investments toward modernization of health care infrastructure, which is likely to increase access to health care. Furthermore, factors such as rise in demand for cost-effective hip implants and increase in the geriatric population offer significant opportunities in the global acetabular prostheses market.
North America to Capture Major Share of Global Acetabular Prostheses Market
- North America is expected to account for major share of the global acetabular prostheses market during the forecast period due to early adoption of technologically advanced products and well-developed health care system
- The acetabular prostheses market in Asia Pacific is likely to grow at a rapid pace during the forecast period owing to rise in awareness and increase in incidence of hip injuries
Key Players Operating in Global Acetabular Prostheses Market
The global acetabular prostheses market is highly consolidated due to the presence of small number of key players. These players hold major share in their respective regions. Growth strategies adopted by leading players, introduction of new products, and focus on research & development are projected to drive the global acetabular prostheses market. For instance, Stryker’s Joint Replacement Division launched Trident II Acetabular System in March 2018. Trident Acetabular System provides surgeons with a highly porous ingrowth surface. In September 2017, MicroPort Orthopedics launched acetabular cup system for total hip replacement.
Major players operating in the global acetabular prostheses market are:
- Zimmer Biomet
- Medical Devices Business Services, Inc. (Johnsons & Johnson)
- Smith & Nephew
- Waldemar Link GmbH & Co. KG
- Aesculap, Inc. (B. Braun company)
- Exactech, Inc.
- Other Prominent Players
Global Acetabular Prostheses Market: Research Scope
Global Acetabular Prostheses Market, by Type
Global Acetabular Prostheses Market, by Application
Global Acetabular Prostheses Market, by End-user
- Specialty Clinics
- Ambulatory Surgical Centers
Global Acetabular Prostheses Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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Below is a snapshot of these quadrants.
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The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.