10-Jun-16 Dublin, June 10, 2016 (GLOBE NEWSWIRE) -- Research and Markets has announced the addition of the "Global Knee and Hip Replacements Market (By Type, Material, Fixation, Approach): Opportunities and Forecasts (2016-2021)" report to their offering.
Global Knee and Hip Replacements Market is forecast to grow at a CAGR of 5.15% during 2016 - 2021F, driven by rising clinical education among the patients, rising demand from the aged population, increasing prevalence of obesity and diabetes and technological innovation. Rising disposable incomes has resulted in increasing per capita healthcare expenditure which has further led to growing focus towards healthcare, hence, building the need for knee and hip replacement surgeries specifically among the adult population.
Improved technological advancement leading to growing demand for Knee and hip replacement services coupled with growing awareness among the population due to rising ageing population, obesity and osteoarthritis problem has resulted in the growth of Knee and Hip Replacements market.
Due to the growing problem of osteoarthritis, bone preservation, less healing time and technological advancement like minimally invasive surgeries has led to an increase in the knee & hip replacement market. Countries in emerging economies are increasingly becoming the focus point of the manufacturers given the huge demand for knee and hip replacement surgeries.
Improvement in technology with increasing prevalence of obesity and diabetes and the inclination of young population has been driving the market. Lack of awareness combined with higher cost of surgery has hampered the growth of the industry. Rising Prevalence Of revision surgeries combined increasing capabilities of implants in emerging nations, leading to medical tourism have grown over the years. Focus has shifted towards the emerging markets like Asia Pacific and South America driven by medical tourism.
While the market has witnessed strong foothold in the regions of Europe and North America, rapid growth for knee and hip replacement is expected to be driven by the emerging nations in Asia Pacific and Latin America through India and China.
Few of the leading companies operating in Knee and Hip Replacements market are Zimmer Biomet Holdings Inc., Stryker Corporation, Smith & Nephew plc. , Johnson & Johnson, Wright Medical Group.
The report provides coverage by Types, Material, Fixation Procedures and By Approach:
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