Transparency Market Research
Those having hip problems usually go for a hip replacement. They could also opt for hip resurfacing. The latter is a more conservative procedure having greater benefits. This has led to a steady growth in the global hip resurfacing implants market. The different materials used in making hip resurfacing implants are hybrid alloy, TIN coated, and chromium alloy. Among those, cobalt chromium alloy and hybrid alloy are seeing widespread uptake in making hip resurfacing implants. In fact, going forward, both the material segments are expected to rise at the same pace. However, hybrid alloy segment currently holds a greater share in the market and in future too would lead the market on account of larger sales.
A report by Transparency Market Research finds that the global hip resurfacing implants market is rising at a sluggish yet steady pace. It valued the market at US$ 160 mn in 2017. It states that product recalls and rising issues in hip resurfacing implants have served to hamper the revenue growth in the market. Notwithstanding such hurdles, the global hip resurfacing implants market is expected to rise in the next couple of years too because of the demand from end use segments of ambulatory surgical centers, hospitals, and orthopedic clinics.
Global Hip Resurfacing Implants Market: Key Trends
Hip resurfacing emerged as a viable alternative to hip replacement thereby spawning the global hip resurfacing implants market. In fact, it steals a march over hip replacement in many ways. For example, instead of replacing all of the hip as in total hip replacement, hip resurfacing entails shaving and capping just a few millimeters of the surface of the joint. This allows preserving most of the natural bone of the patient. It serves to lessen the postoperative dislocation risk and inaccurate leg length. Thus hip resurfacing enables patients to heal faster and carry out all their previous activities such running and other competitive sports. In fact, because of such USPs, the global hip resurfacing implants market is set to rise. The younger demographics is particularly interested in it. Its lesser cost compared to hip replacement is also driving demand in the market.
Despite such benefits, the global hip resurfacing implants market is facing headwinds because of many drawbacks of the process. Many surgeons do not recommend hip resurfacing anymore since it can up the proportion of potentially harmful metal ions in the bloodstream. Besides, it also carries the risk of bone fracture just underneath the metal cap in the topmost part of the thighbone. Women with not-so-great bone quality are particularly prone to it.
Global Hip Resurfacing Implants Market: Regional Outlook
The global hip resurfacing implants market is spread across Latin America, North America, Europe, Asia Pacific, and the Middle East and Africa. Asia with its large population has been significantly contributing to demand in the market. North America is another prominent market owing to its developed healthcare system.
Global Hip Resurfacing Implants Market: Competitive Dynamics
Some of the prominent participants in the global hip resurfacing implants market are Zimmer Biomet Holdings, Inc., MicroPort Scientific Corporation, Smith & Nephew, BioPro, and Corin Group Plc.
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