The knee and hip joints are the largest joints in the human body. Any dysfunction in any of these joints can cause chronic disorders. Both these joints are large and complex and thus, they are frequently affected by injuries caused in the event of sports activities, accidents, or simply due to aging. Further, conditions like arthritis and bursitis may also cause chronic pain in these joints. Advancing medical technology has brought significant development to enable smooth functioning of joints and to provide them with strength and stability, which, is eventually targeted at providing them with a much better degree of movement. These technological advancements have made related surgeries a more viable option for patients. Joint replacement surgery has become one of the greatest medical advances over time.
The key factors which are anticipated to drive knee and hip market include factors like accelerating aging population, rising healthcare expenditures and economic development. Some of the noteworthy developments of this industry include joint replacement surgery, increasing obesity rates, improved implant materials and surgical techniques, among others. However, the growth of respective industry is hindered by the barrier for regulatory risk, defective medical devices, dearth of expertise and trained healthcare expenditures, among others.
The global knee & hip market is consolidated with top five players controlling the majority share of the total market. Zimmer, Johnson & Johnson (DePuy), Stryker, Biomet and Smith & Nephew are the leading players in the knee & hip market.
The report “Global Knee & Hip Market” analyzes the global and the US market. The report also identifies the key trends shaping and driving the dynamism in knee & hip market. The report provides an insight into the prevalent competitive landscape of major players, along with their business strategies.
By combining SPSS Inc.’s data integration and analysis capabilities with our relevant findings, we have predicted the future growth of the industry. We employed various significant variables that have an impact on this industry and created regression models with SPSS Base to determine the future direction of the industry. Before deploying the regression model, the relationship between several independent or predictor variables and the dependent variable was analyzed using standard SPSS output, including charts, tables and tests.