US Hip Resurfacing Implants Market: Product Penetration to Drive Growth
The US hip resurfacing implants market valued at
$57.3.million in 2008 is forecast to grow by 36% annually for the next seven
years to reach $483 million by 2015
This growth is expected to be driven by an increase in awareness of the
procedure, increasing clinical familiarity among surgeons and a favorable
The fact that hip resurfacing offers a more natural feel, higher stability and
lesser bone-loss makes it ideal for patients leading an active life. Increasing awareness of the advantages that this procedure offers, through
campaigns by both the manufacturers and social groups will drive the growth of
the US hip resurfacing market. There has been a steady increase in the awareness
of hip resurfacing, and it’s offering of an active life even after surgery, its
shorter recovery period, lower costs of rehabilitation and its minimal bone loss
factors. These advantages have positioned hip resurfacing as a primary treatment
method for hip ailments.
The increasing incidence of osteoarthritis in the population group of 25-60
years is a major driver for the US hip resurfacing market. The increasing
prevalence, now at 6% of the young patient population, is expected to drive
growth in the US hip resurfacing market. Osteoarthritis, which first appears
between the age of 25 and 40, is a very common disease in individuals aged 70
and above. Before the age 55, it affects men and women equally but after the age
55, the incidence is higher in women. Effectively, the large pool of male
population between the ages of 25-40 with advanced or severe arthritis of the
hip are expected to drive demand for hip resurfacing impalnts.
Smith & Nephew leads the US hip resurfacing market with its Birmingham Hip
Resurfacing (BHR). Released in May 2006, the BHR had the competitive advantage
of being the only available product for a full year until the market launch of
Corin’s Cormet System in July 2007. Smith & Nephew cashed in on the first mover
advantage with innovative marketing, surgeons education and competitive pricing.
Renewed efforts towards capturing distribution channels and increased stress on
surgeons education has allowed Smith & Nephew to capture 75% market share in the
US hip resurfacing market.
Corin’s deal with Stryker for distribution of its Cormet resurfacing system
played a major role in the sales of its device in spite of the late entry into
the US market. Stryker is known to have one of the strongest sales forces in the
US orthopedic devices market. This combined with Stryker’s strong brand identity
as compared to the UK headquartered Smith & Nephew has allowed Corin’s product
to effectively make inroads into the hip resurfacing market in the US.
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GlobalData, the industry analysis specialists’ new report, “US Hip Resurfacing
Implants Market: Product Penetration to Drive Growth”, finds that an increasing
incidence of osteoarthritis in the population group of 25-60 years will drive
the growth of hip resurfacing implants market in the US. The report highlights
the trend of traditional Total Hip Replacement (THR) shifting towards Hip
Resurfacing as one of the key market drivers for the US hip resurfacing market.