Improved technological advancement leading to growing demand for Knee and hip replacement services coupled with growing awareness among the population
Date: 6 June 2016
According to recently published Azoth Analytics report “Global Knee and Hip Replacements Market (By Type, By Material, By Fixation Procedure, By Approach): Opportunities and Forecasts (2016-2021)”, global Knee and Hip Replacements Market is forecasted to grow at a CAGR of 5.5% during 2016 – 2021F, on account of rising baby boomers population and the growing awareness about the Orthopaedic treatments. With rising per capita healthcare expenditure in emerging markets, on account of the increasing focus on healthcare among the population, where orthopaedic care tends to gain focus given the active lifestyles and increasing health problems like obesity, the market Knee and Hip Replacements is anticipated to grow at a higher rate.
While awareness for knee and hip replacement procedures is high due to the increasing support from various othopaedicians mainly in regions such as North America and Europe, thereby, having higher number of procedures, markets in emerging economies such as Asia Pacific and Latin America are expected to facilitate growth in coming years.
While adoption for knee and hip replacements has been contributed by the improved technology, they are viewed as a cosmetic procedure, and hence, coverage of costs under health insurance remain limited which poses itself to be a challenge among the population due to its costly procedures.
The report Global Knee and Hip Replacements Market (By Type, By Material, By Fixation Procedure, By Approach): Opportunities and Forecasts (2016-2021):’’ has analysed the potential of Global Knee and Hip Replacements Market and provides statistics and information on market size, shares and growth factors. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyses the emerging trends along with major drivers, challenges and opportunities in the global knee and hip replacements market. Additionally, the report also highlights market entry strategies for various companies across the globe.