The medical industry keeps enchanting us with various wonders that keeps happening all over the world on a day to day basis. Scientific research and advancement has taken to such levels that no end or destination seems impossible to achieve anymore. Active research is taking place in various fields of medical health including the treatment of cancer, Parkinson’s, Alzheimer’s, lime disease, Crohn’s disease and many more innumerable diseases that were earlier termed as terminal and can never be treated effectively.
Medical science is advancing at such a fast pace that it produces new and mind boggling solutions every single day. Imagine a hypothetical situation wherein, if a person had told another patient, suffering from an injury or an accident where he has damaged his hip in a very bad and futile way, that hips can be replaced. Who in their right minds and senses would have believed that? But today, hip replacement is a possibility. It is not only a possibility, it is something that is available to the patients on a commercial basis in a number of hospitals and surgical centers all over the world. Artificial hip joints are something that are becoming highly popular among a population that comprises of both old and young people.
Market for Artificial Hip Joints:
As stated earlier, the market for artificial hip joints is gaining a lot of popularity due to a large number of incidents wherein there is an injury to the hip that is beyond repair. Also the world is also slowly being characterized by an aging population and due to the increasing changes in the lifestyle and other habits, there are also large number of cases where in there is a corrosion with regards to the pelvic bones, that is the ball and the socket joint that connects the legs to the hips.North America has the highest market for Artificial hip joints market as it involves the maximum number of surgeries that are conducted and made with regards to this field. The Asian markets however with a smaller share than that of North America, is still one of the largest growing markets for this kind of equipment. The European markets are placed third when compared to the demand and the usage of these equipment’s. The industry as a whole is expected to reach a total value that runs into billions by the end of the year 2021. The growth rate for this industry is characterized to be very stable between the years 2015 and 2020.
The market for artificial hip joints is growing at an exponential rate and is soon to enter all corners of the world.