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Hip and Knee Implants - Global Pipeline Analysis, Opportunity Assessment and Market Forecasts to 201
Hip and Knee Implants - Global Pipeline Analysis, Opportunity Assessment and Market Forecasts to 201
Global Hip and Knee Implants Market to Grow Growth of 6% Over the Next Seven Years
Hyderabad,
AP,
India
(prbd.net)
29/07/2010
"Hip and Knee Implants - Global Pipeline Analysis, Opportunity Assessment and Market Forecasts to 2016"
The global allergic rhinitis therapeutics market was valued at $6.9 billion in 2009 and is forecast to decline by 3.2% annually for the next eight years to reach $5.4 billion in 2017. The decline in market size is primarily due to strong competition and the entry of low cost drugs into the market. Although the disease incidence rate and prescription rate are increasing year on year, declining drug prices will cause the market to shrink.
The global hip and knee implants market is forecast to grow at an 8% Compound Annual Growth Rate (CAGR) to reach $21,742m by 2016. The knee implants market is estimated to grow at 10% CAGR during 2009–2016 to 13,083m in 2016. The hip implants market is forecast to grow at 6% over the next seven years to reach $8,659m in 2016. The market is expected to be driven by the aging population and the consequent growing incidence of age related diseases such as osteoarthritis. Moreover, more young patients between the age groups of 45-65 years are also opting for surgery to maintain their active lifestyles. New procedures and advanced implants are resulting in better procedure outcomes, implants lasting longer and faster recovery. This is driving more young patients towards surgery.
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New procedures such as minimally invasive surgery and hip resurfacing are increasing the attractiveness of surgery for younger adults. Similarly, advancements in implant technology have led to enhanced durability and function, with new implants claiming to last up to 20-25 years compared to 15 years currently. Procedures such as hip resurfacing and partial knee replacement, which conserve the undamaged portion of the bone and use minimally invasive surgery, are gaining popularity. These procedures use smaller incisions, with the patient benefiting from reduced blood loss and tissue injury, resulting in potentially faster recovery times. Presently, due to the limited lifespan of the artificial joint, young people who are under the age of 40 are generally not recommended surgery, since they will outlive the implant. With superior implant materials increasing the durability, an increasing numbers of young patients are now going in for the surgery option. Advanced designs have led to the development of high joint stability and functionality, which provide a much better degree of movement. These technological improvements, aimed at returning the maximum degree of function to joints, have made surgery a more viable option for young, active patients.
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