Emphasis on Product (Fixed Bearing Prostheses, Mobile Bearing Prostheses); Material (Metal-on-metal, Metal-on-polyethylene, Ceramic-on-metal, Ceramic-on-polyethylene, Ceramic-on-ceramic); End-User (Hospitals, Orthopedic Clinics, Ambulatory Surgical Centers, Others); and Region/Country
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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1. Market Introduction
2. Research Methodology Or Assumption
3. Market Synopsis
4. Executive Summary
5. Impact Of Covid-19 On The Femoral Prosthesis Market
6. Global Femoral Prosthesis Market Revenue (usd Bn), 2020-2028
7. Market Insights By Product
8. Market Insights By Material
9. Market Insights By End-users
10. Market Insights By Region 10 Market Insights By Region
11. Femoral Prosthesis Market Dynamics
12. Femoral Prosthesis Market Opportunities
13. Femoral Prosthesis Market Trends & Insights
14. Demand And Supply-side Analysis 14 Demand And Supply Side Analysis
15. Value Chain Analysis
16. Competitive Scenario
17. Company Profiled
18. Disclaimer
Research Methodology for the Global Femoral Prosthesis Market Analysis (2022-2028)
Analyzing the historical market, estimation of the current market, and forecasting the future market of the global femoral prosthesis market were the three major steps undertaken to create and analyze the adoption of femoral prostheses in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global femoral prosthesis market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the femoral prosthesis market through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the femoral prosthesis market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report as the product, material, and end-users. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the femoral prosthesis market. Further, we conducted factor analysis using dependent and independent variables such as an increasing prevalence of bone-related diseases such as osteoporosis, rheumatoid arthritis, etc. globally. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the femoral prosthesis market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global femoral prosthesis market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., top-down/bottom-up approach was applied to arrive at the market forecast about 2027 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the global femoral prosthesis market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of product, material, and end-users in the global femoral prosthesis market.
The main objective of the Global Femoral prosthesis Market Study
The current & future market trends of the global femoral prosthesis market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:
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