Global Robotic-Assisted Hip Replacement Market to Grow by a CAGR of 5% During 2023 – 2035
Rising Cases of Osteoporosis amongst Geriatric Population to Drive Market Growth
Research Nester published a report titled “Robotic-Assisted Hip Replacement Market: Global Demand Analysis & Opportunity Outlook 2035” which delivers a detailed overview of the global robotic-assisted hip replacement market in terms of market segmentation by type, application, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with a detailed discussion on current and future market trends associated with the market’s growth.
The global robotic-assisted hip replacement market is anticipated to grow with a CAGR of ~5% over the forecast period, i.e., 2023-2035. The market is segmented into type and application. The type segment is divided into passive, semi-active, and active systems, and the application segment is divided into hospitals, orthopedic clinics, ambulatory and academic, and research. Out of these, the hospital segment is expected to grow the market on the back of the rising number of surgical procedures all over the world during the forecast period. Worldwide, out of over 300 million major surgeries, more than 30 million are done in the U.S. and more than 10 million are done in Europe every year.
The rising demand for hip replacement surgeries and the increase in the number of geriatric patients is estimated to drive the growth of the global robotic-assisted hip replacement market trends during the forecast period. As of 2021, there are about 15% of the nation’s adult population in the U.S. comprising to 50 million adults aged 65 and over. The high incidence of lower extremity disorders such as osteoarthritis, osteoporosis, and hip disorders are estimated growth of the market forecast. Over 150 million females suffer from osteoporosis across the globe. It is observed that the prevalence of hip fracture will raise by 300% and 250% in males and females respectively.
Geographically, the global robotic-assisted hip replacement market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa region. Out of these, the market in North America is anticipated to garner the largest revenue on the back of the growing prevalence of osteoporosis and osteoarthritis in the region during the forecast period. Also, the rise in sports accidents and road injuries is estimated to increase market growth. In 2021, over 2 million football injuries occurred in the U.S.
The research is global in nature and covers a detailed analysis of the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Fewer Experienced Surgeons and Physicians Lead to the Adoption of Automation to Create Opportunities for Market Growth
The growing trend in novel advancements and technological surgeries contributed to the growth opportunities of the market during the forecast period. Besides, the shortage of skilled physicians and surgeons across the world and the increase in the adoption of automation in the field of healthcare are major factors for the growth of the market. There are only 30 surgical specialists available per 1,00,000 population on average in 2015 as per estimates.
However, the high cost of surgical robots, and less affordable in low-income regions are expected to operate as key restraints to the growth of the global robotic-assisted hip replacement market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global robotic-assisted hip replacement market which includes company profiling of Medtronic plc, Medical Device Business Services, Inc., DePuy Synthes, Zimmer Biomet, Stryker, Smith & Nephew, Globus Medical, NuVasive Inc., LimaCorporate S.p.A., Asensus, Titan Surgical LLC. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials, and recent news and developments. On the whole, the report depicts a detailed overview of the global robotic-assisted hip replacement market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching for possibilities, and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.
Research Nester is a leading service provider for strategic market research and consulting. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates, and executives to take wise decisions for their future marketing strategy, expansion, investment, etc. We believe every business can expand to its new horizon, provided the right guidance at the right time is available through strategic minds. Our out of box thinking helps our clients to take wise decisions in order to avoid future uncertainties.
