Market Synopsis

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. It is also expected to scale a decent valuation by the end of the forecast period.

The Hip Tendinitis Market Outlook is anticipated to reach USD 378.24 Million by 2030 at 4.60% CAGR during the forecast period 2022-2030.

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.

The rising geriatric population is another 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.

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.

Market Segmentation

By type, the global hip tendinitis market has been segmented into internal snapping hip, external snapping hip, and intra-articular snapping hip.

By treatment, the hip tendinitis market has been segmented into diagnosis and therapy. The diagnosis segment has been further sub-segmented into physical exam, imaging tests, and others. The therapy segment has been sub-segmented into pharmacological, non-pharmacological, shock wave or surgery, medical devices, and others.

By end users, the global hip tendinitis market has been segmented into hospitals & clinics, academic institutes, medical research centers, and others.

Competitive Dashboard

The key players profiled in the share analysis of the global hip tendinitis market are Almatica Pharma, Inc (U.S.), Bayer AG (Germany), AstraZeneca (U.K.), Geri-Care Pharmaceuticals. (U.S.), Boehringer Ingelheim Pharmaceuticals, Inc (Germany), Pfizer (U.S.), Merck & Co., Inc (U.S.), Abbott (U.S.), Teva Pharmaceuticals (Taiwan), GlaxoSmithKline plc (U.K.), Lupin Pharmaceuticals, Inc. (India), and Perrigo Company (U.S)

Regional Analysis

The global hip tendinitis market, by region, has been segmented into Americas, Europe, Asia Pacific, and the Middle East & Africa (MEA). Americas has secured the pole position in the global marketplace owing to the presence of a huge diabetic population. The region also houses a massive geriatric population which works in favor of the hip tendinitis market. It is expected to exhibit similar growth trend in the years to come. Also, the availability of favorable reimbursement policies in conjunction with increasing awareness about the disorder is projected to aid the proliferation of the market in the region. Asia Pacific is expected to strike a comparatively higher CAGR over the assessment period. The growth can be attributed to the rapid developments in the healthcare sector coupled with rising healthcare expenditure

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