The size of the Hip replacement devices Market in Latin America was worth USD 0.56 billion in 2022 and estimated to be growing at a CAGR of 3%, to reach USD 0.64 million by 2027.
Hip replacement is a surgical procedure that replaces a hip joint with a prosthetic implant. The treatment can be carried out as a total or hemi (half) replacement. The surgery is commonly used to alleviate pain caused by arthritis or a hip fracture. In recent years, osteoarthritis has become more widespread. It's also more common among the aging population, which has been increasing in recent years.
The increased prevalence of osteoarthritis is the primary factor driving the hip replacement devices market in Latin America. However, other factors, such as an increase in the number of injuries and an increase in the obese population in Latin America, also contribute to the market's growth. The market is further expected to be expanding due to the increased prevalence of orthopedic illnesses, the existence of prominent physiotherapists in the region, the accessibility and affordability of products, and the growing elderly population.
During the forecast period, the hip replacement implants market in Latin America is expected to grow due to an increase in the number of surgical procedures for hip replacement implants, a strong presence of key players, and technical improvements leading to product innovation and offers.
However, high costs associated with the surgeries may put financial pressure on patients, which is expected to impact the market negatively. Price pressure, the danger of problems after surgery, and the time it takes to get surgery at a hospital are some of the biggest roadblocks. Aside from the growing senior population, the hip replacement devices market also benefits from recent technological breakthroughs that have enhanced the quality of artificial hips while also making surgery more accessible for the general public. Another constraint in Latin America is a lack of competent professionals for hip replacement and surgeons in distant places.
This research report on the Latin America Hip Replacement Devices Market has been segmented and sub-segmented into the following categories:
Geographically, the Latin American hip replacement devices market had a moderate share in the global market in 2020. However, during the forecast period, the hip replacement implants market in Latin America is expected to grow due to an increase in the number of surgical procedures for hip replacement implants, a strong presence of key players, and technical improvements leading to product innovation and offers.
The expanding pool of hip fractures, hip osteoarthritis, attractive reimbursement scenario, and technical improvements are the primary drivers driving this market's growth in Mexico, Brazil, and Argentina. Furthermore, rising health awareness among the general public and an increase in the population's spending capacity are moving the industry forward.
KEY MARKET PLAYERS:
Companies playing a promising role in the Latin America hip replacement devices market profiled in this report are B. Braun Melsungen AG, Exactech, Inc., DJO Global, Inc., Johnson & Johnson, MicroPort Scientific Corporation, OMNIlife science, Inc., Smith & Nephew, Zimmer Biomet Holdings, Inc., and Stryker Corporation.
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1.4 Mobile bearing
5.1.5 Partial hip replacement
5.1.6 Hip resurfacing
5.1.7 Revision hip replacement
5.1.8 Y-o-Y Growth Analysis, By Product
5.1.9 Market Attractiveness Analysis, By Product
5.1.10 Market Share Analysis, By Product
5.2.2 Metal on metal
5.2.3 Metal on polyethylene
5.2.4 Ceramic on metal
5.2.5 Ceramic on polyethylene
5.2.6 Ceramic on ceramic
5.2.7 Y-o-Y Growth Analysis, By material
5.2.8 Market Attractiveness Analysis, By material
5.2.9 Market Share Analysis, By material
5.3 End user
5.3.2 Ambulatory surgical centres
5.3.4 Orthopaedic clinics
5.3.5 Y-o-Y Growth Analysis, By end user
5.3.6 Market Attractiveness Analysis, By end user
5.3.7 Market Share Analysis, By end user
6. Geographical Analysis
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
188.8.131.52 By Geographical Area
184.108.40.206 By Product
220.127.116.11 By material
18.104.22.168 By end user
6.1.4 Market Attractiveness Analysis
22.214.171.124 By Geographical Area
126.96.36.199 By Product
188.8.131.52 By material
184.108.40.206 By end user
6.1.5 Market Share Analysis
220.127.116.11 By Geographical Area
18.104.22.168 By Product
22.214.171.124 By material
126.96.36.199 By end user
6.4 Rest of Latin America
7. Strategic Analysis
7.1 PESTLE analysis
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 B. Braun Melsungen AG
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Exactech, Inc.
8.3 DJO Global, Inc.
8.4 Johnson & Johnson
8.5 MicroPort Scientific Corporation
8.6 OMNIlife science, Inc.
8.7 Smith & Nephew
8.8 Zimmer Biomet Holdings, Inc.
8.9 Cytori Therapeutics
8.10 Stryker Corporation
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10.Market Outlook and Investment Opportunities
a) List of Tables
b) List of Figures
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