Valley Cottage, New York, December 20, 2017 – Future Market Insights (FMI) has come up with a fresh business and commerce study for the stockholders connected to the domain of orthopedics, highlighting that while there are vast new opportunities in the field owing to escalating geriatric population, the competitive landscape already compiles a large pool of players and the shares are distributed. That being said, players such as Smith & Nephew, Zimmer Holdings, DePuy Synthes, and Stryker do hold a position of strength ahead of some of the other notable players such as Corenetec, Aesculap Implant Systems, ConforMIS, Peter Brehm, Shanghai MicroPort Orthopedics, Arthrex, Corin, EUROS FRANCE, Lima Corporate, Elite Surgical, Evolutis, Integra LifeSciences, FH ORTHOPEDICS, Ortosintese, Medacta, Surgival, Tornier, and Synergie Ingénierie Médicale.
The leading position that Smith & Nephew has achieved in the global hips and knees reconstructive market is a reflection of its wide range of innovative products that specialize in replacing knees with efficient procedures. Company’s popular knee systems include VERILAST technology knees and LEGION total knee system, whereas it offers ANTHOLOGY hip system, SYNERGY hip system, and SMF fermoral his system for the hips reconstructive segment of the market. In addition to having an impressive product portfolio, the company also indulges in acquisition activities frequently. For instance, Smith & Nephew acquired Unicompartmental High Flex Knee system from Zimmer in 2015 to start a whole new foray in the developed market of the U.S. In 2016, the company had acquired Blue Belt Technologies.
The FMI report has estimated that the demand in the global hips and knees reconstructive market will translate into a revenue of US$28.0 bn by the end of 2027, expanding at a notable CAGR of 6.4% during the forecast period of 2017 to 2027.
Rapid escalation in the percentage of geriatrics in the world’s population is the primary driver of the global hips and knees reconstructive market. As human body ages, fluid in the knees and hips decrease and invariably cause discomfort for people over 50 years of age. For these disorders, hips and knees reconstructive procedures have come up as a boon as they go a long way towards providing mobility to the patients. Recent technological advancements that have gained approval from regulatory bodies for healthcare among general masses, increasing cases of obesity in a number of countries, growing awareness among urban population regarding the availability and efficiency of these reconstructive procedures, and improving healthcare infrastructure in various emerging economies are some of the other factors augmenting the demand in the global hips and knees reconstructive market. On the other hand, complications pertaining to post-surgery and lack of awareness among the rural parts of the world are obstructing the market from attaining its true potential.
On the basis of fixation type, the FMI report has segmented the global hips and knees reconstructive market into hybrid, cement, and cementless fixations. In 2016, the hybrid segment provided for the maximum demand at 28.1% and the demand for the same is projected to increment at a CAGR of 6.4% during the said forecast period. By 2027, this segment will be providing for a demand share of 29.9% in the global market for hips and knees replacement, according to the analysts of the report. The cementless fixation segment is prospering too.
Geographically, North America has been rated as the most lucrative region, driven by the robust infrastructure and presence of numerous players in the country of the U.S. However, vastly populated countries of India and China are expected to turn Asia Pacific into another highly profitable region towards the end of the forecast period.
Queries regarding these research findings can be addressed to Future Market Insights’ analysts at email@example.com