Hip Replacement Market by Products, Regions, Companies, Forecast by 2027
Hip Replacement Market Will Be US$ 7.48 Billion by 2027. Global Forecast Impact of Coronavirus Industry Trends, Growth, Opportunity By Products, Regions, Company Analysis.
By: Renub Research
COVID-19 Impact on Hip Replacement Market
The ongoing COVID-19 pandemic is an unprecedented public health concern. This pandemic has adversely impacted the number of hip arthroplasty procedures. The high risk of COVID-19 infection involved during the surgical procedure and rising COVID-19 patient admissions in the hospitals are some of the prime factors resulting in decline of surgical procedures in the year 2020. According to Renub Research, the Hip Replacement Market Size was US$ 4.73 Billion in 2020.
For instance, about 100,000 joint replacement surgeries were cancelled during the first wave of COVID-19 in early 2020s in the U.K. Although the industry is poised to behold significant growth due to the decreasing number of COVID-19 patients in some regions as standard operating protocols in healthcare facilities are being implemented. The government initiatives for rendering clinical emergency care to patients suffering from Osteoarthritis have sustained the revenue growth in the COVID era.
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