Hip Tendonitis Demand Is Predicted to Expand at a CAGR of 5% By 2033
According to these latest estimates by Fact.MR, a market research and competitive intelligence provider, the global hip tendinitis market is valued at US$ 268.7 million in 2023 and is predicted to expand at a CAGR of 5% from 2023 to 2033.
Hip tendonitis, which is often caused due to over exercise, is an inflammation and degeneration of the tendons, the thick cords that connect muscle to the hip bone. Hip tendonitis also develops when an activity that one is not accustomed to performing puts the tendon under abnormal stress. The inadequate blood flow in the tendons causes them to mend slowly.
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People who engage in physical activities such as running, cycling, or high kicking are more likely to develop hip tendonitis. Moreover, risky activities including sports that call for squats or weightlifting also result in hip tendinitis. Increased risk of hip tendinitis is associated with individuals who rapidly increase their training volume and intensity.
Rising cases of hip tendonitis, increasing ageing population, and growing prevalence of diabetes are all contributing to the healthy growth of the worldwide hip tendinitis market. Moreover, demand for hip tendinitis solutions is projected to rise as a result of widespread sedentary lifestyles, the developing healthcare sector, and rising public awareness about tendinitis.
Key Takeaways from Market Study
- Sales of hip tendinitis products are expected to reach US$ 437.8 million by 2033.
- Rising cases of sports injuries in the United States are expected to boost product sales growth.
- Growing prevalence of diabetes in Germany is increasing the risk of hip tendinitis.
- Rapidly growing senior population who is more prone to experiencing orthopedic injuries is driving the demand for hip tendinitis treatment in Japan.
Notable Market Developments
- A tendon repair company, CoNextions Inc., said in May 2022 that only 19 days after receiving FDA 510(k) clearance to sell the product, the very first individual was operated for a zone 2 flexor tendon in the little finger with the CoNextions TR Tendon Repair System.
- MiMedx’s micronized dHACM Injection, which can be used to treat patients with Achilles Tendonitis, is under a phase 3 clinical trial.
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Competitive Landscape
Athletes and sports players commonly experience tendon-related injuries; the rising prevalence of these ailments in the general population is attributable to an increase in the need for tendonitis treatment options throughout the projected period.
According to Fact.MR, a market research and competitive intelligence provider, key players in the hip tendinitis market are developing effective product development plans and launching numerous initiatives to increase their company footprint in response to the rising demand. One of the main reasons behind the industry’s growth is the well-balanced presence of regional producers with well-known companies working in international markets.
- In November 2022, Camber Pharmaceuticals added Naproxen Oral Suspension to its line of products since it is used to treat the symptoms and signs of tendinitis.
Hip Tendinitis Products Companies
- 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
Key Segments of Hip Tendinitis Industry Research
· By Injury Type :
-
- Internal Snapping Hip
- External Snapping Hip
- Intra-articular Snapping Hip
· By Treatment :
-
- Diagnosis
- Physical Examination
- Imaging Studies
- Therapy
- Pharmacological
- Non-pharmacological
- Shock Wave or Surgery
- Medical Equipment
- Diagnosis
· By End User :
-
- Hospitals & Clinics
- Medical Research Centers
- Academic Institutes
· By Region :
-
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global hip tendinitis market, presenting historical demand data (2018 to 2022) and forecast statistics for the period (2023 to 2033).
The study divulges essential insights on the market based on injury type (internal snapping hip, external snapping hip, intra-articular snapping hip), treatment (diagnosis, therapy), and end user (hospitals & clinics, medical research centers, academic institutes), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).
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