The Hip kits market is directly attached to this new emerging segment of healthcare and it has immense scope for growth. An estimated $215 billion healthcare industry is growing at an average rate of 8 percent and the growth rate will soar by the end of this decade. The hip kit market is flanked by the booming healthcare market and the growth of the healthcare market will directly impact the surge of the global healthcare market.
The global healthcare environment is undergoing a paradigm shift. The entire industry is adapting to new challenges and attempting to create an ecosystem capable of balancing the supply and demand ratio in the healthcare industry. Skilled labor, post-hospitalization treatments (homecare), and healthcare parity are some of the long-standing challenges that the industry has faced and overcome for decades.
To meet the impending challenges, the entire healthcare system had adapted to a slew of new ideas. Homecare or post-op care is an emerging segment of healthcare that is economically viable and has a large global market.
Adult home care is in high demand in Asian and European countries. This is once again fueling the growth and sustainability of this region’s emerging Hip kits market. Apart from the United States, Europe, China, and Japan, Indian healthcare demographics are rapidly changing, which is encouraging the proliferation of start-ups and the expansion of home care in India’s billion-dollar market.
This is great news for the Hip Kits industry. These regions will have the highest demand for hip kits because the mother industries, such as healthcare and home care, are expanding rapidly. According to one report, the healthcare device market will reach $15 billion by 2017, increasing the revenue of the Hip kits market in this region.
Hip Kits market: DriversThe growing adult population, the emerging home care industry, and the changing landscape of modern healthcare are some of the massive growth components that can ensure this hip kits industry a stable future. The Hip Kits market is expanding at a rapid pace.
The global growth of the hip kits market is being bolstered by a massive wave of the elderly population, which the UN predicts will reach 1.4 billion by 2050. Japan’s healthcare market is one of the largest, with a massive $100 billion market cap.
With 85 billion people, the Chinese market is crowded, and the entire healthcare and homecare industry is worth $ 3 billion. The Indian healthcare industry is worth $2.3 billion and is growing at an annual rate of 18 percent. All of these potential markets are profitable for hip kit manufacturers.
Hip kits are most commonly used by patients recovering from hip, knee, or back surgery. A dressing stick, 2 pairs of Perma-Ty Elastic Shoe Laces (30″ White and 24″ Black), Raptor Reacher, Shoehorn with T handle, Scrubbies Round Sponge, Deluxe sock, and stocking aid are included in the kit.
Hip Kits market: RestraintsNew inventions and modernization abound in the hip kit industry. However, the cost, availability, and healthcare awareness in South-East Asian markets such as India and China are some of the most significant factors impeding the growth of this industry.
Hip Kits market: Key RegionsThe rapidly expanding healthcare markets of China, Japan, India, the United States, and Europe are propelling the growth of the Hip Kits market in this region. The majority of Hip Kit producers and manufacturers are based in the United States, Japan, and China. Hip kit manufacturers from India, China, the United States, Canada, and Japan compete in the export market.
Though there is a significant difference in pricing and quality between the Asian hip kits market and the international hip kits market.
Hip Kits market: Key PlayersThere are numerous players dominating the hip kits market all over the world, some of which are based in the United States, such as Stryker Corp, which has earned nearly $0.7 billion in revenue from the global market. Aside from Smith and Nephew in London, Medi Touch Limited in Israel, Surgitech in Dubai, and Orthomax India in India are some of the standard Hip Kits producers in the international markets.
The research report provides an in-depth analysis of the market and includes thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also includes projections based on an appropriate set of assumptions and methodologies. The research report analyses and provides information based on market segments such as geographies, types, and applications.
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