An endoprosthesis is an artificial device which replaces a missing body part such as lower and upper body extremities and other organs or parts of the body. It is a science which deals implantation of mechanical devices within human skeleton, peripheral vascular system, cardiovascular system and nervous systems, and other body parts to assist the motor control lost by any disease or disorder. Prosthesis find its application as replace component in missing extremity, such as knee, femur, and wall stent endoprosthesis. Endoprosthesis needed for a variety of reasons, accidents, diseases and disorders, and congenital defects. Endoprosthesis market has huge potential in terms of revenue generation and it’s fuelled by growing demand for novel technologies and treatment methods.
Endoprosthesis Market: Drivers and Restraints
Technological advancements in endoprosthesis enables effective treatment, rising awareness for prosthetics in orthopedic injuries are fuelling the growth of end prosthesis market and is expected to exhibit a significant growth in near future. Increasing prevalence of orthopedic disorders and peripheral vascular diseases is another major factor. Knee and hip osteoarthritis prevalence is increasing at rapid pace owing to increase in number of geriatric population. Rising awareness among patients and healthcare service providers pertaining to advanced technologies, would provide long term opportunity to growth of endoprosthesis market. However, limited reimbursement policies in low and middle income countries and substandard performance of local product are the major bottlenecks of the market.
Endoprosthesis Market: Overview
Globally, growing demand for endoprosthesis products such as total knee replacement prosthetics, total femur replacement prosthetics, peripheral vascular prosthetics has been estimated to represents significant growth in overall endoprosthesis market. Increasing the severity of diseases witnessed to a robust market growth in forecasting period. The market is expected to exhibit to a significant CAGR and annual growth rates over the forecast period.
Endoprosthesis Market: Region-Wise Outlook
Depending upon the geographic regions endoprosthesis market is segmented into seven key regions: Those are North America, Latin America, and Eastern Europe, Western Europe, and Asia pacific excluding japan, Japan, Middle East and Africa. North America witnessed for a high potential endoprosthesis market due to the increased awareness among the people towards advanced technologies. Asian-Pacific region expected to provide lucrative growth of endoprosthesis market due to rapidly evolving healthcare infrastructure, and favorable reimbursement policies in specific countries.
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Endoprosthesis Market: Key Players
Key players in endoprosthesis market include Zimmer Biomet Holdings, Inc., Smith & Nephew Plc, Acumed, LLC, Stryker Corporation, Boston Scientific, Inc., Wright Medical Technology, Inc., and BARD Peripheral Vascular and others.