ID: MRFR/HC/4725-CR | July 2018 | Region: Global | 100 pages
The U.S. direct anterior approach (total hip replacement) in ASC market is anticipated to touch a valuation of USD 1,793.2 million by 2023, as per a new detailed report by Market Research Future (MRFR). It is likely to experience a 13.6% CAGR during the assessment period (2017-2023) owing to the high prevalence of osteoarthritis. The rise in numbers of the geriatric populace is another factor expected to positively impact the market. According to the United States Census Bureau, nearly 42.6 million are above the age of 65 and the number will rise sharply by 2030.
Osteoarthritis is one of the prime reasons for aggravating hip pain in the elderly. Direct anterior approach (DAA) is a minimally invasive surgery made possible with a small incision without cutting any tendons. This technique has benefits such as low surgery time, reduced post-surgery pain, and rapid recovery of the patient. But high costs of total hip arthroplasty (THA) or total hip replacement can hamper market growth.
This report allows the user to gain a deeper understanding of the ongoing events and trends in the U.S. market for direct anterior approach. By correlating the historical data with key market dynamics, our analysts were able to make highly accurate projections in the report. MRFR’s report includes a thorough segmental analysis of the U.S. direct anterior approach in ASC market segmented by type filled with astute insights. This report has been prepared to assist industry participants in making informed decisions on growth strategies and operation management. Users will also come across drivers, trends, opportunities, and restraints which are likely to influence the growth of the market during the assessment period.
By service, the U.S. direct anterior approach in ASC market has been segmented into U.S. total hip replacement, U.S. total hip replacement by DAA, and U.S. total hip replacement for DAA by ASC. The U.S. THA for DAA by ASC segment is anticipated to register a remarkable growth rate during the forecast period owing to shorter and inexpensive stays in ambulatory surgery centers (ASC) as compared to hospitals. The U.S. total hip replacement segment is touted to reach a valuation of USD 15,990.5 million by 2023.
For the scope of research, the standard definition of the product/service “direct anterior approach (total hip replacement)” is included in the report. The report discusses and interprets the current and future opportunities of the industry by delivering an unbiased growth assessment.
Smith & Nephew, Proliance Surgeons, OrthAlign, Inc., Bone & Joint Surgery Clinic, Center for Special Surgery, Stryker Corporation, Orthoillinois, Zimmer Biomet, Johnson & Johnson Services Inc. (DePuy Synthes), The Hip and Knee Center, and others are noteworthy players in the U.S. direct anterior approach (total hip replacement) in ASC market. These players are investing in research and development (R&D) to launch new products on an annual basis. For instance, Zimmer Biomet increased their R&D budget to develop new techniques such as the anterior supine intermuscular THA.
The report offers comprehensive profiles on these market players and assesses their current standing in the U.S. direct anterior approach in ASC market. Company history coupled with annual turnover, segmental share, SWOT analysis, growth strategies, new product launches, mergers and acquisitions (M&A) activities, and latest R&D initiatives are outlined in the report.
Market Research Future (MRFR) uses a combination of primary and secondary research to compile market reports. Primary data is accumulated from interviewing industry stalwarts and secondary research is collated by studying white papers, studying statistics published by reputed government agencies, and annual reports of leading players. Our analysts use top-down and bottom-up approaches to validate the findings of the report. The report comprises news, current trends, and future prospects related to the market, all of which can provide a thorough understanding of the market to clients. Industry leaders can make accurate business decisions based on our insights.
For the scope of research, the report offers a comprehensive analysis of the U.S. direct anterior approach in ASC market .
Frequently Asked Questions (FAQ) :
The projected CAGR for US Direct Anterior Approach Market would be 13.6% during the forecast period.
The expected valuation of US Direct Anterior Approach Market would be USD 1793.2 million.
The segments included in the process are the lateral approach, the direct anterior approach, and a posterior approach.
The challenges would be the high cost of the process and complicated procedure.
The players are Zimmer Biomet, Stryker, Johnson and Johnson Services Inc. (DePuy Synthes), and Smith & Nephew.
U.S. Anterior Approach- Summary
The U.S. direct anterior approach (total hip replacement) in ASC market, as per the reports of Market Research Future (MRFR), is touted to reach the valuation of U.S.D 1,793.2 million by 2023. Growing at a staggering CAGR of 13.6% during the forecast period (2017-2023), this remedial procedure could prove beneficial for the healthcare market and its dependents. The market increase can be triggered further by technological advents and high mortality rate in coming years.
Worldwide urbanization has led to a paradigm shift in the human behavioral pattern. Coupled with a sedentary lifestyle, this transferal has affected many adversely resulting in the emergence of osteoarthritis as a bane. According to the reports of The American Joint Replacement Registry, in 2016, around 70% of the hip replacement surgery patients suffer from osteoarthritis. The daunting percentage, translated to numbers, could rise to 78 million by the end of 2040. Osteoarthritis’ prevalence can steer the market of hip replacement to a commendable height.
Rising mortality percentage inflates the geriatric population, along with the need for surgeries such as total hip replacement. Published in 2015, reports from the Geriatric Orthopaedic Surgery & Rehabilitation journal pins down the average age for primary total hip arthroplasty (THA) at 65. This number becomes intimidating if read along with the reports of United States Census Bureau tagging 46.2 million U.S. citizens nearing the age of 65 and above. The elderly population is more susceptible to osteoarthritis, which the market could interpret as a favorable condition for expansion.
However, the market is not without its challenges. Total hip replacement incurs a considerable cost, and the surgical procedure is complicated, which could prevent the market from reaching its expected growth rate.
Demand for minimally invasive surgeries are on the rise, and growing awareness regarding it can prove profitable for the market. Various U.S. companies have now increased their research and development (R&D) expenditure and coming up with procedures with short incisions, reduced muscle damage and quicker recovery time. Zimmer Biomet, increasing the R&D expenditure from 4.5% to 4.7% in 2017, has transpired into an expansion of their portfolio and be considered exemplary.
The U.S. direct anterior approach (DAA) in ASC market can be segmented by U.S. total hip replacement, U.S. total hip replacement by DAA, and U.S. total hip replacement for DAA by ambulatory surgical centers (ASC). The total hip replacement market includes direct anterior approach, lateral approach, and posterior approach.
Shorter hospital duration and cost-effective procedures compared to hospitals have given rise to the demand for ASC in the U.S. and is expected to inflate further during the forecast period.
The presence of significant market mavens such as Johnson and Johnson Services Inc. (DePuy Synthes), Stryker, Zimmer Biomet, and Smith & Nephew have made the U.S. market competitive with all of them vying for the crest. By remaining abreast with the latest technologies, these companies are introducing procedures to revamp the market and expand it exponentially.
1 Report Prologue
2 Market Introduction
2.1 Introduction 11
2.2 Assumptions & Limitations 11
3 Research Methodology
3.1 Research Process 13
3.2 Primary Research 13
3.3 Secondary Research 13
3.4 Market Size Estimation 14
4 Market Dynamics
4.1 Introduction 16
4.2 Drivers 16
4.2.1 Increasing Prevalence Osteoarthritis 16
4.2.2 Growing Geriatric Population 16
4.2.3 Rising R&D By The Key Players Of The Market 17
4.2.4 Favourable Reimbursement Policies 17
4.2.5 Drivers Impact Analysis 17
4.3 Restraints 18
4.3.1 High Cost Of Total Hip Arthroplasty 18
4.3.2 Incidence Of Product Recalls 18
4.3.3 Restraints Impact Analysis 18
4.4 Opportunity 19
4.4.1 Rising Demands For The Minimally Invasive Surgical Procedures 19
4.5 Macroeconomic Indicator 19
4.6 Product Trends In The U.S Direct Anterior Approach (Total Hip Replacement) Market In ACS 19
4.7 Trends In The U.S Direct Anterior Approach (Total Hip Replacement) Market In ACS 20
5 Market Factor Analysis
5.1 Value Chain Analysis 22
5.1.1 R&D And Designing 22
5.1.2 Manufacturing 22
5.1.3 Distribution & Sales 22
5.1.4 Post-Sales Review 23
5.2 Porter’s Five Forces Model 23
5.2.1 Bargaining Power Of Suppliers 24
5.2.1 Bargaining Power Of Buyers 24
5.2.2 Threat Of New Entrants 24
5.2.3 Threat Of Substitutes 24
5.2.4 Intensity Of Rivalry 24
5.3 Investment Opportunities 24
5.4 Pricing Analysis 25
5.5 Demand & Supply: Gap Analysis 25
6 U.S Direct Anterior Approach (Total Hip Replacement) Market
6.1 Total Hip Replacement 27
6.1.1 Total Hip Replacement By DAA (Direct Anterior Approach) 28
7 Competitive Landscape
7.1 Competitive Landscape 31
7.1.1 Ambulatory Surgical Centers 32
22.214.171.124 Introduction 32
8 Company Profile
8.1 Johnson & Johnson Services Inc. (DePuy Synthes) 34
8.1.1 Company Overview 34
8.1.2 Financial Overview 34
8.1.3 Products Offering 35
8.1.4 Key Developments 35
8.1.5 SWOT Analysis 35
8.1.6 Key Strategy 35
8.2 Stryker 36
8.2.1 Company Overview 36
8.2.2 Financial Overview 36
8.2.3 Products Offering 37
8.2.4 Key Developments 37
8.2.5 SWOT Analysis 37
8.2.6 Key Strategy 37
8.3 Zimmer Biomet 38
8.3.1 Company Overview 38
8.3.2 Financial Overview 38
8.3.3 Products Offering 39
8.3.4 Key Developments 39
8.3.5 SWOT Analysis 40
8.3.6 Key Strategy 40
8.4 Smith & Nephew 41
8.4.1 Company Overview 41
8.4.2 Financial Overview 41
8.4.3 Products Offering 42
8.4.4 Key Developments 42
8.4.5 SWOT Analysis 42
8.4.6 Key Strategy 43
8.5 OrthAlign, Inc. 44
8.5.1 Company Overview 44
8.5.2 Financial Overview 44
8.5.3 Products Offering 44
8.5.4 Key Developments 44
8.5.5 SWOT Analysis 44
8.5.6 Key Strategy 45
8.6 Proliance Surgeons 46
8.6.1 Company Overview 46
8.6.2 Financial Overview 46
8.6.3 Products Offering 46
8.6.4 Key Developments 46
8.6.5 SWOT Analysis 46
8.6.6 Key Strategy 46
8.7 The Hip And Knee Center 47
8.7.1 Company Overview 47
8.7.2 Financial Overview 47
8.7.3 Products Offering 47
8.7.4 Key Developments 47
8.7.5 SWOT Analysis 47
8.7.6 Key Strategy 47
8.8 Centre For Special Surgery 48
8.8.1 Company Overview 48
8.8.2 Financial Overview 48
8.8.3 Products Offering 48
8.8.4 Key Developments 48
8.8.5 SWOT Analysis 48
8.8.6 Key Strategy 48
8.9 Bone & Joint Surgery Clinic 49
8.9.1 Company Overview 49
8.9.2 Financial Overview 49
8.9.3 Products Offering 49
8.9.4 Key Developments 49
8.9.5 SWOT Analysis 49
8.9.6 Key Strategy 49
8.10 Orthoillinois 50
8.10.1 Company Overview 50
8.10.2 Financial Overview 50
8.10.3 Products Offering 50
8.10.4 Key Developments 50
8.10.5 SWOT Analysis 50
8.10.6 Key Strategy 50
9 List Of Tables
TABLE 1 U.S. TOTAL HIP REPLACEMENT MARKET 2020-2027 (USD MILLION) 28
TABLE 2 U.S. TOTAL HIP REPLACEMENT MARKET, BY NUMBER OF PROCEDURE 2020-2027 28
TABLE 3 U.S. TOTAL HIP REPLACEMENT BY DAA (DIRECT ANTERIOR APPROACH) 2020-2027 (USD MILLION) 29
TABLE 4 U.S. TOTAL HIP REPLACEMENT BY DAA, NUMBER OF PROCEDURE 2020-2027 (USD MILLION) 29
TABLE 5 U.S. TOTAL HIP REPLACEMENT MARKET FOR DAA BY AMBULATORY SURGICAL CENTERS ASC 2020-2027 (USD MILLION) 29
TABLE 6 TOP 3 U.S. AMBULATORY SURGICAL CENTER FOR THR (2020) 33
10 List Of Figures
FIGURE 1 RESEARCH PROCESS 14
FIGURE 2 DROC ANALYSIS OF THE U.S. DIRECT ANTERIOR APPROACH (TOTAL HIP REPLACEMENT) MARKET IN ASC 17
FIGURE 3 DRIVERS IMPACT ANALYSIS: U.S. DIRECT ANTERIOR APPROACH (TOTAL HIP REPLACEMENT) MARKET 18
FIGURE 4 RESTRAINTS IMPACT ANALYSIS: U.S. DIRECT ANTERIOR APPROACH (TOTAL HIP REPLACEMENT) MARKET 19
FIGURE 5 VALUE CHAIN: U.S. DIRECT ANTERIOR APPROACH (TOTAL HIP REPLACEMENT) MARKET 23
FIGURE 6 PORTER’S FIVE FORCES MODEL: THE U.S. DIRECT ANTERIOR APPROACH (TOTAL HIP REPLACEMENT) MARKET IN ASC 24
FIGURE 7 U.S. TOTAL HIP REPLACEMENT MARKET 2020 - 2027 (USD MILLION) 28
FIGURE 8 U.S. TOTAL HIP REPLACEMENT BY DAA (DIRECT ANTERIOR APPROACH) 2020 - 2027 (USD MILLION) 29
FIGURE 9 U.S. TOTAL HIP REPLACEMENT MARKET FOR DAA BY AMBULATORY SURGICAL CENTERS 2020 - 2027 (USD MILLION) 30
FIGURE 10 U.S. TOTAL HIP REPLACEMENT, MARKET SHARE ANALYSIS BY MAJOR PLAYERS, 2020 (%) 32
This table of content is tentative and subject to change as the research progresses.
Please Note: Financial details of company cannot be provided if the information of the company is not available in public domain and or reliable source.
U.S. Direct Anterior Approach (Total Hip Replacement) Market in ACS: Competitive Landscape
Smith & Nephew, Zimmer Biomet, Stryker and Johnson & Johnson Services Inc. collectively accounted for more than 79.8% of the market share of the U.S. Direct Anterior Approach (Total Hip Replacement) Market in 2017. These companies continue to retain their strong market presence through expansions, mergers and acquisitions, and extensive product portfolio.
In 2017, Johnson & Johnson Services, Inc. (DePuy Synthes) was the leading player in the market and accounted for more than ~33.3% of market share. The large share of the company is attributed to the high demand for hip reconstruction products. Moreover, this company has a strong sales and distribution network. Along with that, this company also provides after sales services which play a major role in the satisfaction of the customers.
Zimmer Biomet held the second position in the market and accounted for more than ~26.6% of the market share. Zimmer Biomet has a vast product portfolio in the total hip replacement industry. The company also has a wide geographic presence as it operates in various countries all around the world. It has a significant presence in North America, Europe, and the Middle East and Africa, with commercial, manufacturing, and research facilities in more than one dozen countries.
Stryker held the third position in terms of market share, in 2017 and accounted for more than ~11.8% of the market share. The company follows the strategy of launching new products and focuses on the acquisition and collaboration with an aim to minimize the competition. For instance, in 2018, Stryker launched Trident Acetabular System, made up of its tritanium in growth technology. Tritanium mimics the porous bone and thus enhances cell attachment and proliferation which eventually promotes long-term biologic fixation.
Smith & Nephew acquired the fourth spot in the market. The company is well known for its sports medicine, trauma, orthopedic reconstruction, and advanced wound management. In 2015, Smith & Nephew announced the acquisition of Blue Belt Holdings, Inc. for USD 275 million, making the company secure a leading position in the fast-growing area of orthopedic robotics-assisted surgery.
New product developments along with the strategy of acquisitions is a key focus area for players as the demand for more effective products continues to grow. Majority of the companies have adopted the strategy of acquisitions and product launches for the market development.