Acetabular Prostheses Market: Rise in the Spending Capacity of the Population is Anticipated to Boost the Growth of the Global Market
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.
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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.
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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.
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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.
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Major players operating in the global acetabular prostheses market are:
- Zimmer Biomet
- Medical Devices Business Services, Inc. (Johnsons & Johnson)
- Stryker
- Smith & Nephew
- Waldemar Link GmbH & Co. KG
- Aesculap, Inc. (B. Braun company)
- ARZZT
- Exactech, Inc.
- Other Prominent Players
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