COLONOSCOPY BOWEL PREPARATION DRUGS MARKET ANALYSIS | Coherent Market Insights (1)

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• HIP REPLACEMENT MARKET ANALYSIS
• Hip Replacement Market, By Product Type (Total
  Hip Replacement Implant, Partial Hip Replacement
  Implant, Hip Resurfacing, Revision Hip Implants),
  By Components (Hip Stem Systems, Acetabular Cup
  Systems, Revision Accessories and Components), By
  End User (Hospitals, Orthopedic Clinics,
  Ambulatory Surgical Centers), and By Region
  (North America, Latin America, Europe, Asia
  Pacific, Middle East Africa) - Size, Share,
  Outlook, and Opportunity Analysis, 2019 - 2027

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• Hip replacement is a surgical procedure in which
  the hip joint is replaced by an artificial
  prosthetic implant. The procedure is called hip
  arthroplasty. The surgery is generally conducted
  to relieve joint pain (arthritis) or for the
  treatment of physical hip joint damage and hip
  fractures. Hip replacement surgery can be
  performed as a total replacement or a hemi (half)
  replacement.StatisticsThe global hip
  replacement market is estimated to account for
  US 10,311.3 Mn in terms of value by the end of
  2027.
• Global Hip Replacement Market Drivers
• Increasing prevalence of musculoskeletal
  disorders is expected to boost growth of the
  global hip replacement market over the forecast
  period. For instance, according to the study,
  Osteoarthritis year in review 2019 epidemiology
  and therapy, published in the journal
  Osteoarthritis and Cartilage in January 2020, the
  median proportion of years lived with disability
  due to musculoskeletal disorders increased from
  11.8 in 2000 to 13.5 (9.616.6) in 2015.

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• Figure 1. Global Hip Replacement Market Share
  (), by Region, 2019

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• Global Hip Replacement Market Restraints
• Stringent regulator scenario regarding marketing
  of hip replacement is expected to hinder growth
  of the market. For instance, from May 2016, the
  U.S. FDA mandated that all manufacturers of
  metal-on-metal total hip implants are required to
  stop marketing their devices and submit premarket
  approvals for approval before marketing the
  devices.
• Moreover, high cost of hip implant products and
  surgeries is expected to hamper growth of the
  market. For instance, hip replacement surgery
  costs around US 20,000 to US 60,000 in the U.S.

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Global Hip Replacement Market Opportunities

• Increasing geriatric population is expected to
  offer lucrative growth opportunities for players
  in the global hip replacement market. For
  instance, according to the World Health
  Organization, geriatric population is expected to
  reach 2 billion by 2050, up from 900 million in
  2015.
• Moreover, increasing number of accidents is also
  expected to aid in growth of the market. For
  instance, according to 2018 Fatal Motor Vehicle
  Crashes Overview by National Highway Traffic
  Safety Administration, a U.S. federal agency,
  10,511 deaths were registered in the U.S. in
  2018.

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Market Trends/Key Takeaways

• The U.S. FDA has not approved any metal-on-metal
  total hip replacement devices for use in the US.
  There are two FDA-approved metal-on-metal hip
  resurfacing devices available, one of which was
  developed by Smith Nephew.
• In the U.S., government bodies are focused
  reducing expenditures of common inpatient
  surgeries for Medicare beneficiaries. For
  instance, in February 2020, the Centers for
  Medicare Medicaid Services issued a proposed
  rule in the Federal Register proposing a
  three-year extension and changes to the episode
  definition and pricing in the Comprehensive Care
  for Joint Replacement Model.
• RegulationsAccording to the U.S. FDA most, but
  not all, prosthetic components and controls are
  classified as class I. Almost all class I devices
  are exempt from premarket notification by FDA,
  but as such are subject to regulation by the U.S.
  FDA, Center for Devices and Radiological Health
  (CDRH).According to 21 CFR Part (Parts 800-1299)
  of the FDAs Product Classification Listings, all
  prosthetic devices must comply with Federal
  regulations through FDA/CDRH processes. (Parts
  890.3420 and 890.3025), the FDAs product
  classification listings, external limb
  prosthestic components, and accessories are
  defined as physical medicine devices and are
  generally considered class I devices.

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Value Chain Analysis -

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Global Hip Replacement Market Competitive
Landscape

• Major players operating in the global hip
  replacement market include, Depuy Synthes
  (Johnson Johnson), Microport Scientific
  Corporation, Zimmer Biomet, Exactech Inc., DJO
  Global Inc., Stryker Corporation, B. Braun
  Melsungen, and Smith Nephew.
• Global Hip Replacement Market Key
  DevelopmentsMajor players in the market are
  focused on expanding their service portfolio. For
  instance, in February 2020, Smith Nephew
  announced 'Positive Connections', a turnkey
  service to support healthcare providers that are
  focused on offering increased access for
  orthopedic cases to Ambulatory Surgery Centers
  (ASCs) and other outpatient settings.
• Players in the market are also focused on
  launching Artificial Intelligence (AI)-based
  products. For instance, in December 2019, RSIP
  Vision, an AI, computer vision, and image
  processing technology company, launched a new
  AI-based total hip replacement solution that
  provides a precise, automated 3D structure of the
  patients' hip for effective surgery.

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