Market Scenario:
The rising geriatric population is a major factor expected to drive the expansion of the hip tendinitis market over the next few years. The population of older adults is increasing at a higher rate than any other age group as analyzed by the World Health Organization (WHO). Its statistical observations further suggest that the number of people over 60 years is anticipated to exceed 2 billion mark by the end of 2050. It is projected to act as a growth catalyst for the hip tendinitis market over the next couple of years.
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Hip tendonitis is a condition where the tendons present in the hip and pelvis joints that support the bodyweight get damaged. Multiple factors have been recognized that triggers the disease and is likely to affect a larger section of the population in the years to come. Market Research Future (MRFR)’s assessment has asserted that the global hip tendinitis market is expected to expand at a CAGR of 4.55% during the forecast period 2017 to 2023. It is also expected to scale a decent valuation by the end of the forecast period.
The concerns raised by the sedentary lifestyle is motivating the masses to shift towards sports and other physical activities for maintaining health and avoiding cardiovascular diseases. However, a drastic increase in injuries during sports has been observed in the recent years. This is one of the major factors responsible for the expansion of the hip tendinitis market currently. It is anticipated to has a similar influence on the growth pattern of the market in the forthcoming years.
Some of the other factors that are likely to boost the growth pace of the hip tendinitis market in the forthcoming future are lack of exercise, research & development, and increasing patient population of rheumatoid arthritis & diabetes. This, is projected to encourage the key players to focus on the development of more effective drugs and diagnosis, thus, augmenting the hip tendinitis market in the foreseeable future.
Key players for global hip tendinitis market
- Almatica Pharma, Inc
- AstraZeneca
- Bayer AG
- Boehringer Ingelheim Pharmaceuticals, Inc
- Merck & Co., Inc
- Pfizer
- Abbott
- GlaxoSmithKline plc
- Teva Pharmaceuticals
- Lupin Pharmaceuticals, Inc.
- Geri-Care Pharmaceuticals.
- Perrigo Company
Segmentation
The global hip tendinitis market is segmented on the basis of types, treatment, and end users.
On the basis of types, the market is segmented into internal snapping hip, external snapping hip, and intra-articular snapping hip.
On the basis of treatment, the market is segmented into diagnosis and therapy. The diagnosis is further segmented into physical exam, imaging tests, and others. Imaging test is further segmented into ultrasound, magnetic resonance imaging (MRI) scans, and others. The therapy is segmented into pharmacological, non-pharmacological, shock wave or surgery, medical devices, and others. The pharmacological therapy is further segmented into OTC drugs, corticosteroids injections, platelet-rich plasma (PRP), and others. The medical devices are further segmented into mechanical band, support tape, pre-cut strips, continuous rolls, and others.
On the basis of end users, the market is segmented into hospitals & clinics, medical research centers, academic institutes, and others.
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