Femoral Head Prostheses Market: Introduction
- Hip is one of the significant supporting joints of the body that functions by joining the femurs with the pelvis. Hip can suffer damage in old age, and thus, patients undergo hip replacement surgeries.
- Hip joint replacement surgery consists of substitution of the joint with an artificial implant or prosthesis, which enables to recreate the articulation functionality
- Femoral head prostheses or hip prosthesis are artificial joints that function similar to the natural hip joint when implanted surgically
- These are implants used in hip replacement surgery for the treatment of hip disorders such as hip osteoarthritis, avascular necrosis, and hip dysplasia
- Femoral head prostheses or implants are available in a wide variety of shapes and sizes. The diameter of the femoral head plays a significant role in determining the range of motion of the artificial hip joint.
- Femoral heads are usually made of metal, ceramics, stainless steel, chrome, and cobalt alloys
- Femoral head prostheses are primarily utilized during hip replacement procedures in various settings, including hospitals, ambulatory surgical centers, and orthopedic clinics
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Key Drivers of Global Femoral Head Prostheses Market
- Rise in prevalence of degenerative joint disorders, such as hip osteoarthritis, rheumatoid arthritis, avascular necrosis or aseptic necrosis, hip dysplasia, and other hipbone disorders, are key factors that have led to an increase in hip replacement procedures. This, in turn, is projected to boost the global femoral head prostheses market in the near future.
- According to the Centers for Disease Control and Prevention (CDC), the rate of total hip replacements among patients aged 45 has shown a significant increase of 6.8% annually, i.e. 138,700 surgeries in 2000 to 310,800 in 2010.
- Baby boomer population susceptible to a range of hip joint disorders has increased in the past few years. This, in turn, is expected to drive the demand for femoral head prostheses during the forecast period.
North America to Dominate Global Femoral Head Prostheses Market
- Rise in prevalence of hip bone disorders among geriatric patients, increase in the number of hip replacement procedures performed in the U.S., and favorable reimbursement scenario for hip replacement surgeries are key factors that are likely to propel the demand for femoral head prostheses in the region
- According to the Agency for Healthcare Research and Quality, approximately 300,000 total hip replacements are performed every year in the U.S. This is anticipated to drive the demand for femoral head prostheses in the country.
- Increase in incidences of accidental injuries leading to hip fractures and dislocations is further anticipated to augment the demand for femoral head prostheses
- According to Geriatric Orthopedic Surgery & Rehabilitation (GOSR), the number of hip fractures in the U.S. may rise to 840,000 by 2040. This is projected to boost the growth of the femoral head prostheses market in North America.
- Increasing geriatric population, rapid innovation in technology, and high R&D expenditure are key factors fueling the growth of the femoral head prostheses market in Europe
- Presence of a large baby boomer population with degenerative joint disorders in developing countries, such as India and China, and increase in demand for hip arthroplasty in developed countries of Asia Pacific are projected to propel the market in the near future
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Key Players Operating in Global Femoral Head Prostheses Market
Major players operating in the global femoral head prostheses market are:
- Zimmer Biomet Holdings Inc.
- Stryker Corporation
- Exatech, Inc.
- MicroPort Scientific Corporation
- DJO Global Inc.
- B. Braun Melsungen AG
- Wright Medical Group N.V.
- Smith & Nephew Plc
- b-ONE Ortho Corp.
Global Femoral Head Prostheses Market: Research Scope
Global Femoral Head Prostheses Market, by Product
- Fixed-bearing Prostheses
- Mobile-bearing Prostheses
Global Femoral Head Prostheses Market, by Material
Global Femoral Head Prostheses Market, by End-user
- Orthopedic Clinics
- Ambulatory Surgical Centers
Global Femoral Head Prostheses Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Australia & Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- 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
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
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?
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