Femoral Prosthesis Market: Current Analysis and Forecast (2022-2028)

The femoral prosthesis market is expected to register a CAGR of approx. 4% over the period of 2022-2028. Hip replacement surgery involves replacing a damaged hip with an artificial one (prosthesis). Hip replacement surgery can be performed on adults of any age. To create a new hip, four components are implanted during hip replacement: an acetabular component, a plastic liner, the femoral stem, and a femoral head. Femoral head prostheses are ball-shaped structures that are attached to the femoral stem and fit directly into the new socket. Femoral head prostheses come in a variety of shapes and sizes and are primarily made of stainless steel, ceramic, chrome & cobalt alloy, and other materials. The growing demand for femoral prostheses can be attributed to the rise in the demand for prosthetics across the globe. The increasing focus of the market players on the development of implantable products and the advanced system for reducing blood loss in surgical procedures is likely to aid the growth of the market. For instance, In July 2021, Medacta announced the expansion of the hip revision Portfolio. Its first surgeries utilize AMIS(R)-K Long, Iliac Screw Mpact 3D Metal, and 3D Metal(R) B-Cage. Together with the M-Vizion Modular Femoral Revision Stem, these products further widen the Medacta Hip Revision Platform. Owing to the glaring statistics, advanced technology helps in faster patient recovery leading to the growing demand for femoral prostheses and would contribute to the growth of the market in the forthcoming period as well. Furthermore, the femoral prosthesis market is anticipated to grow on account of the increase in a number of hip replacement surgery and improved health reimbursement for orthopedic prosthetics. However, some of the restraints in the market including the stringent government guidelines associated with the use of prosthetic products are impeding the growth of this market all over the world..

Stryker Corporation, Zimmer Biomet Holdings Inc, Corin Group, Ortho Development, Smith & Nephew plc, Medacta International, Biotech GmbH, SurgTech Inc, Corentec Co. Ltd., Limacorporate S.p.A are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report:

"Amongst products, the fixed-bearing prostheses category accounted for the significant share in the market in 2020"

Based on the products, the femoral prosthesis market is segmented into fixed-bearing prostheses and mobile-bearing prostheses. The fixed-bearing prostheses segment accounted for a significant market share and it is estimated that it will grow rapidly during the projected timeframe because this is a less expensive prosthesis option compared to the mobile-bearing prostheses. In addition, they are suitable for all patients as they require more support from soft tissue (the ligaments and muscles surrounding the knee) and are not likely to dislocate.

"Amongst material, the ceramic-on-polyethylene category is expected to witness considerable CAGR during the forecast period"

Based on the material, the market is fragmented into metal-on-metal, metal-on-polyethylene, ceramic-on-metal, ceramic-on-polyethylene, and ceramic-on-ceramic. The ceramic-on-polyethylene segment grabbed a considerable market share, and it is expected to grow at a significant CAGR during the forecast period due to a lack of 'squeaking' and less total failure compared to the all-ceramic counterpart. Patients understand the risks that metal joints and sockets bring to their long-term health and are moving away from the material and accepting ceramic-on-polyethylene.

"Amongst end-users, the hospital's category is expected to witness considerable CAGR during the forecast period"

Based on the end-users, the market is fragmented into hospitals, orthopedic clinics, ambulatory surgical centers, and others. The hospital segment grabbed a considerable market share, and it is expected to grow at a significant CAGR during the forecast period owing to the increasing number of hospital surgeries, favorable health reimbursement. Furthermore, collaborations between hospitals and industry players in order to create advanced surgical procedures are aiding growth.

"North America to witness significant growth during the forecast period"

For a better understanding of the market dynamics of the femoral prosthesis market, a detailed analysis was conducted for different regions across the globe including North America (the U.S, Canada, and the Rest of North America), Europe (Germany, France, Spain, United Kingdom, Italy, and Rest of Europe), Asia-Pacific (China, India, Australia, Japan, and Rest of APAC), Rest of World has been conducted. North America constitutes a major market for the femoral prosthesis industry owing to due to increased technological interventions in prosthetics as well as favorable health reimbursement.

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