LONDON--(BUSINESS WIRE)--The global femoral head prostheses market is expected to post a CAGR of over 3% during the period 2019-2023, according to the latest market research report by Technavio.
A key factor driving the growth of the market is the advances in femoral head prostheses. The market is witnessing significant technological advances in hip implantation procedures in terms of technology, materials, surgical techniques, methods of fixation and sterilization of prostheses. Currently, manufacturers are developing femoral head prostheses with a new type of plastic liner, called the highly cross-linked PE liner, which significantly slows down the wearing out of implants. It also virtually eliminates osteolysis for up to ten years after the surgery. There is also an increased focus on R&D of new femoral head prostheses materials. The use of computer-aided design and modular components is also helping to assure a secure fit of implants. Furthermore, new surgical techniques enable hip replacement surgeries to be performed through smaller incisions, which facilitates short hospital stays, reduced blood loss, less pain, and a quick return to normal work. Therefore, such advances are increasing the adoption of femoral head prostheses, which, in turn, is driving market growth.
As per Technavio, the increasing focus on robotic hip replacement surgeries will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global femoral head prostheses market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Femoral Head Prostheses Market: Increasing Focus on Robotic Hip Replacement Surgeries
Robotic hip replacement surgeries are increasingly gaining prominence across the world. Robotic platforms allow clinicians to customize hip replacement surgeries to closely match patients' unique anatomy and place precisely fitting, long-lasting, and well-functioning implant prostheses. These systems improve the outcomes of hip replacement surgeries as they can be performed with smaller incisions, lower blood loss, and reduced damage to the surrounding tissues. Moreover, several vendors are focusing on R&D to develop surgical robots for the correct positioning of the components during hip replacement procedures. Thus, such developments are expected to boost market growth during the forecast period.
“Apart from the increasing focus on robotic hip replacement surgeries, some other factors boosting the growth of the market are increasing demand for femoral head prostheses of 28mm or lesser and the increasing number of femoral head replacement surgeries,” says a senior analyst at Technavio.
Global Femoral Head Prostheses Market: Segmentation Analysis
This market research report segments the global femoral head prostheses market by material (ceramic femoral head prostheses, metal femoral head prostheses, and ceramicised metal femoral head prostheses) and geographical regions (North America, Europe, Asia, and ROW).
The North American region led the market in 2018, followed by Europe, Asia, and ROW respectively. During the forecast period, the North American region is expected to maintain its dominance over the global market and register the highest incremental growth due to increased adoption of advanced femoral head prostheses, improved healthcare infrastructure, and the high prevalence of orthopedic disorders in the region.
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