US Hip Resurfacing Implants Market: Product Penetration to Drive Growth

Aug. 14, 2009 - PRLog -- This growth is expected to be driven by an increase in awareness of the procedure, increasing clinical familiarity among surgeons and a favorable reimbursement scenario.
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.
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