According to a recent market study published by Growth Market Reports, titled, “South East Asia Hip and Knee Replacement Market by type, by application, by end user, and by Region: Size, Share, Trends and Opportunity Analysis, 2018-2028”, the market was valued at US$ 338.5 Million in 2020 and is anticipated to grow at a growth rate of 4.2% by the year 2028.

Request a free sample copy @ https://growthmarketreports.com/request-sample/3838

Hip replacement surgery is performed for people who have severe hip damage. Osteoarthritis is the main symptom of hip and knee replacement or joint replacement surgery, which leads to reduced function and quality of life. Hip replacement surgery is an effective and profitable medical intervention that is widely used to treat joint pain. Knee joint replacement is a surgery to repair and replace a knee joint with an artificial joint. Hip & Knee replacement is responsible for better movement, pain relief, and improved quality of life.

The South East Asia Hip and Knee Replacement Market has been fragmented in terms of types, end-users, and region. In terms of types, the South East Asia Hip and Knee Replacement Market is categorized as total hip systems, partial hip systems, revision hip systems, total knee systems, partial knee systems, and revision knee systems. In terms of end-users, the market is categorized into hospitals & ambulatory surgical centers, orthopedic clinics, and others. Considering countries, the market is segmented into Thailand, Malaysia, Singapore, Indonesia, Philippines, Vietnam, Hongkong, and Rest of SEA.

The Coronavirus disease 2019 (COVID-19) pandemic highlighted economic differences, global interdependence, and governance challenges. The South East Asia Hip and Knee Replacement Market was negatively impacted by the covid-19, due to restrictions and the closure of global industries during the pandemic. The import and export of raw materials were severely hindered as a result of restrictions on international transportation. The healthcare industry is one of the main users of implants; however, due to the COVID-19 pandemic, the market is expected to be significantly affected. As a result, the growth of the market was halted. To mitigate global supply chain risks, manufacturers are projected to rise in-house manufacturing through new robotic automation technology in the near future.

As per growth market reports industry analyst Raksha Sharma, “The expanding end-user market, industrial, healthcare and pharmaceutical industry are expected to contribute to the growth of the South East Asia Hip and Knee Replacement Market.

The presence of major suppliers and distributors, accessibility of raw materials, adoption of technologies, and presence of a combined logistics industry are some of the factors that strengthened the growth of the supply chain in technologically advanced countries.

Key Takeaways from the Study:

  • The players in the South East Asia Hip and Knee Replacement market include Stryker, Zimmer Biomet, Smith+Nephew, Johnson & Johnson Services, Inc., Exactech, Inc., MicroPort Scientific Corporation, B. Braun Melsungen AG, Conformis, Inc., Integra LifeSciences Corporation, and Arthrex, Inc. These hold a major market share of the South East Asia Hip and Knee Replacement market in the year 2020.
  • Growing geriatric population in emerging countries, and increased prevalence of obesity rates. Obesity is a strong risk factor for knee OA and is expected to increase the rates of hip, hand, and spinal OA. These factors drive the hip and knee replacement market.
  • Hip replacement surgery offers an alternate to conventional hip replacement for the treatment of hip arthritis. The development of cementless procedures of fixation has been one of the more promising areas in the expansion of knee arthroplasty implants. Which is expected to create immense opportunities for the key players in the market.
  • On the basis of types, the market is segmented into total hip systems, partial hip systems, revision hip systems, total knee systems, partial knee systems, and revision knee systems. In 2020, The total knee systems segment held a largest market share and is expected to grow with a substantial CAGR over the forecast period, due to new technologies have been developed in knee arthroplasty, which advance clinical outcomes.
  • In terms of end-user, the market has split the Market is fragmented into hospitals & ambulatory surgical centers, orthopedic clinics, and others. The orthopedic clinic segment is expected to grow rapidly over the forecast period, due to many orthopedic subspecialties provides joint replacement surgery (Examples include knee replacement and hip replacement surgery) in Singapore, and other SEA countries.
  • In terms of countries, the South East Asia Hip and Knee Replacement markets are divided into Thailand, Malaysia, Singapore, Indonesia, Philippines, Vietnam, Hongkong, and Rest of SEA. Philippines had a significant share of the global market in 2020. Rising adoption of implants in elderly people in the Philippines due to rising old population, which is expected to drive the hip and knee replacement market over the forecast period. The market in Vietnam is expected to grow at a substantial pace during the forecast period, due to increasing prevalence of osteoarthritis of the knee in the Vietnam country.

Report Scope:

Report Metric

Details

Market Value in 2020

US$ 338.5 Million

Market Growth Rate (from 2020 to 2028)

4.2%

Historical Data

2018 & 2019

Base Year

2020

Forecast Period

2021 - 2028

Units Considered

Value (US$ Million)

Market Segments

By Type, By End User, and By Country

Key Companies Profiled

Stryker, Zimmer Biomet, Johnson & Johnson Services, Inc., Smith+Nephew, Exactech, Inc., MicroPort Scientific Corporation, B. Braun Melsungen AG, Conformis, Inc., Integra LifeSciences Corporation, and Arthrex, Inc.

Customization Scope

Report customization available on request

Pricing and Purchase Options

Avail tailor-made purchase options to meet your research requirements.

 

Target Audience:

  • Supply-side: Vendor, Manufacturer, Distributors, Supplier.
  • Demand Side: Chemical, Healthcare, Medical devices, and Others.
  • Regulatory Side: Concerned government authorities, and other approved regulatory bodies.
  • Associations and Industry Bodies: World Health Organization (WHO), Food Drug Administration (FDA), and others. Medical Devices Regulatory Authority, Health Sciences Authority, Singapore (HSA), Department of Medical Equipment and Health Works (DMEHW), Vietnam’s Ministry of Health (MoH).