Hip Replacement is a surgical operation in which the old hip joint is replaced with a prosthetic hip joint, which is a hip joint implant. Hip replacement surgery may be performed as either a partial replacement or a total hip replacement. The name "hip replacement" is used to collectively describe the operations that replace the hip and the condition of hip fractures that may have occurred in the patient. Considering the geographical impact, North America seems to be gaining promising traction in the hip replacement market. This is because there is the presence of key industry players as well as favorable healthcare infrastructure. Besides, a rising number of sports-related injuries could aid the regional market growth. On the contrary, Asia Pacific is exhibiting lucrative signs for the adoption of hip replacement surgeries and devices due to the rising geriatric population in the region.
Recently, in July 2020, Smith+Nephew, a U.K.-based medical technology company, launched RI.HIP NAVIGATION for total hip arthroplasty (THA).
Hip replacements are frequently performed for both cosmetic and functional reasons. Hip replacements are typically recommended for patients who are approaching the age of 50 years, although they are also frequently performed on younger individuals who experience an aggravation of the hip-related problems that developed over time, after the age of fifty. Regardless of its high demand, certain aspects of the market can potentially prove to be an impediment. For instance, hip replacement surgery is highly expensive with associated medical devices being costly. Besides, there is a lack of awareness in rural areas of many emerging economies that can potentially restrict the growth of the hip replacement market shortly... Read more