The US hip and knee replacement market is expected to grow by 11.9% to reach $14.8bn in the next few years with many younger patients needing surgery, a new report has found.
Targeting these younger patients, companies are focusing on advanced joint implants, new minimally invasive procedures and direct-to-customer marketing, a report by market analyst GlobalData said.
GlobalData’s “US Hip and Knee Implants: Strategic Market Analysis and Insight to 2015” report said the market is expected to see growth because of the increasing incidence of osteoarthritis, ageing demographics and a trend towards early surgical intervention in younger patients.
In addition, the emergence of new procedures such as joint resurfacing and greater penetration of existing technologies are also expected to increase up to 2015.
The US knee replacement market was valued at $4.1bn in 2008 and is projected to grow at 12.9% to reach $9.6bn by 2015, the report said.