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Hip Replacement Market To Grow As More Young People Face Arthritis

shcri.com - The Total Hip Replacement (NYSE:THR) market is estimated to reach a value of $7.1 billion by 2019, due not only to the growth of the global elderly population, but also the climbing number of younger patients in need of the procedure, according to Total Hip Replacement - Global Analysis and Market Forecasts.

Total Hip Replacement - Global Analysis and Market Forecasts states that in 2012 the THR market across 10 major countries (US, France, Germany, Italy, Spain, UK, Japan, Brazil, China, and India) was estimated at $6.2 billion, but an increase in demand across all age demographics will see the number grow significantly in the near future.

By 2019, Total Hip Replacement - Global Analysis and Market Forecasts estimates the US will maintain its status as the major global market for THR with a share of 57%, followed by Japan and China at 9% and 10%, respectively. Regarding European countries, the market share will remain relatively stable for the forecast period.

Additionally, the report highlights the potential market for THR manufacturers in developing countries such as Brazil and India, which are growing rapidly. Their booming populations have a growing middle class that can afford a new quality of care, and is also getting more access to reimbursement.

"The hip replacement market is mature and is seeing some pricing pressure from healthcare policy makers, yet is still seeing growth in numbers. A major driver for this growth is the emerging markets and the impact this surgery has on the quality of life on younger patients moving forward," says Total Hip Replacement - Global Analysis and Market Forecasts.

According to Total Hip Replacement - Global Analysis and Market Forecasts, growth in the THR market will be driven by the rising prevalence of osteoarthritis, people living longer and the increase of younger patients receiving hip replacements. The report attributes this rise to an increase in sporting injuries and physically demanding work, as well as an increasing number of young people getting arthritis.

Consequently, with patients living longer, and given the 15-20-year lifetime of most implants, revision surgery has become an inevitable next step which will further fuel market growth. However, for this market segment to meet its potential, greater standards of physician training is required, statesTotal Hip Replacement - Global Analysis and Market Forecasts.

Total Hip Replacement - Global Analysis and Market Forecasts focuses on the total primary hip replacement market along with primary revision market. The report covers the key markets of the US, France, Germany, Italy, Spain, UK, Japan, Brazil, China and India.