Growing elderly population and growing Number Of Hip Fractures Are Fueling The Demand For Hip Protectors: Cognitive Market Research

Hip Protectors Market Overview 

Product Overview and Scope of Hip Protector

The development of the hip protector market over the past few years has been mainly due to a convergence of demographic changes, technical improvements, and increased awareness of fall-related injuries among the elderly population. The need for practical treatments to avoid hip fractures and other fall-related injuries has increased as the global population is aging at an increasing rate. Hip protectors have become a key element in the larger spectrum of elder care and injury prevention. Hip protectors are specialized wearable devices created to absorb and dissipate impact forces during falls. For instance, according to the National Institute of Health, in falls with hip protectors, the incidence of hip fracture was 0.33 per 100 falls, compared to 0.92 per 100 falls in falls without hip protectors. 60% of falls involved the use of hip protectors, and doing so reduced the risk of hip fracture by almost three times. The market has experienced strong expansion as a result of multiple significant variables. First, there is an increased demand for therapies that protect elders against severe fractures due to the rising prevalence of osteoporosis and age-related musculoskeletal conditions. For instance, according to the U.S.

Department of Health and Human Services, an estimated 10 million population of United States aged 50 and older suffer from osteoporosis. In addition, In the European Union, Switzerland, and the United Kingdom in 2019, it was predicted that 25.5 million women and 6.5 million men had osteoporosis and 4.3 million new fragility fractures, including 827,000 hip fractures were caused. As a result, hip protectors that are not only functionally effective but also easy and unnoticeable have been developed, solving issues that previously prevented their wide adoption. 
Many businesses in Europe and the United States have introduced innovative hip protector products in an effort to protect consumers' interests and prevent fractures. For instance, The Hip ‘Guard Hip Protection Belt has been introduced to the UK market by Vivid Care, a national healthcare distributor. The contraption is worn like a regular belt. It has motion sensors incorporated in and analyzes the wearer's movements more than 1,000 times per second using a certified algorithm. It has been demonstrated to guard against hip fractures and also reduce the impact of falls by 85%. 

Overall, the market for hip protectors is anticipated to increase steadily over the coming years as a result of the aging population, technical advancements, and collaboration to demonstrate the effectiveness of these devices. As the market develops, it has the potential to save healthcare expenses relating to fall-related injuries while also enhancing the quality of life for the aging population.

Market Drivers

The Growing Number of Hip Fractures Among Elderly Population

One of the severe and most common injuries that occur is serious fall injuries. The growing elderly population and growing number of hip fractures are fuelling the demand for the hip protectors. For instance, according to the Center for Disease Control and Prevention, in United States, 300,000 older people those 65 and older are admitted to hospitals each year due to hip fractures. The primary cause of hip fractures involves falling, typically by falling sideways. In addition, approximately 6,00,000 hip fractures occur per year in Europe. Hip protector demand has increased significantly and rapidly as a result of the rising rate of hip fractures, indicating an important turning point in injury prevention and elderly care. The increased risk of the aging population to fractures, particularly those affecting the hip, has emerged as a significant public health problem as demographic changes and the elderly population increases. For instance, according to the Population Reference Bureau, Europe is leading in people aged 65 years and above and according to the U.S. Census Bureau, from 4.9 million i.e., 4.7% of the total U.S. population in 1920 to 55.8 million i.e., 16.8% in 2020, therefore elderly population increased by 50.9 million. This indicates a growth rate of around 1,000%, or about five times the rate of population growth. Thus, more the aged population more is the risk of hip fractures resulting in higher demand for Hip protectors.

Increased awareness of hip protectors’ ability to lessen the disruptive effects of hip fractures has resulted in a surge in demand, causing individuals, families, and healthcare organizations to seek preventative measures to protect those who are prone to such injuries. However, as demand for these protectors grows, it is essential that academics, producers, and decision-makers work closely together to stimulate ongoing innovation in design, usability, and cost.

• Growing Consumer Awareness Related to the Risk Associated with the Fall Injuries

• Increasing Number of Osteoporosis Patients

Hip Protectors Revenue by Region (2018-2023)

Hip Protectors Revenue and Market Share (%) by Region (2018-2023)

Hip Protectors market was valued at USD 25,132.3 Million, in 2022 and is expected to grow at a CAGR of 4.8% over the forecast period, from 2023 to 2030.

Hip Protectors Market Segmentation Analysis

Hip Protectors Market Segmentation Analysis by Product Type

•    Soft Hip Protectors
•    Hard Hip Protectors
•    Others

The soft padded hip protector accounts for a significant share of XX% of the market, due to rising demand for soft hip protectors at home-care and hospital settings. The soft hip protector is designed to protect hips to prevent fractures to hips during a fall. Around 300,000 populations in America are hospitalized for a hip fracture every year. The cost of hip fracture treatment is expensive. Thus, the use of a hip protector is a cost-effective method to prevent fractures. The manufacturer of hip protectors invested in the introduction of soft padded hip protectors, owing to the comfort offered by the soft padded hip protectors to the elderly age group population Tytex uses soft foam padding and made from 100% textile solution. The soft padded hip protector designed by Tytex is biomechanically tested and offers comfort and breathability. Thus, the high preference for soft padded hip protectors boosts its demand in the market.

Hip Protectors Market by Material:

•    Energy-Absorbing Material
•    Semi-Rigid Plastic Shield Material

Hip Protectors Market by Application:

•    Hospital & Clinics
•    Surgical Centers
•    Home-Care Settings
•    Others
 

Hip Protectors Market Players

•    Tytex
•    Medline
•    Patterson Medical
•    AliMed
•    Bort
•    HipSaver
•    Plum Enterprises
•    Posey
•    Others

Hip Protectors Market Related Reports

•    Hip Prosthesis Market
•    Artificial Hip Prosthesis Market
•    Artificial Hip Joint Market

Hip Protectors Manufacturers Profiles/Analysis

Tytex

Tytex Basic Information, Manufacturing Base, Sales Area, and Competitors

Business Segment/ Overview:

Tytex is a company engaged into manufacturing of medical fixation and compression textiles. The company has its R&D center in Denmark. The company's processes and facilities are certified according to ISO 9001 and ISO 13485. Tytex has its offices in the United States, Germany, United Kingdom, and Denmark. The organization has its production facilities in Slovakia. In the U.S. and Germany, the company has its sales office and customer service departments. Tytex has two production facilities located in Slovakia. The company offers a wide array of products that serve a wide range of industries such as continence care, postsurgery, ostomy & hernia, wound care, and hip protection. It markets and sells its products under some divisions and brands such as customized by Tytex, continence care by Tytex, cornisel, carefix, and safehip.

Hip Protector Product Types Specification

Business Strategy

Tytex has a significant focus on strengthening its production facilities. For instance, the company strategically chose Slovakia as its production location, to develop and manufacture its wide range of hospital garments and medical textile products. The company adheres to EU standards, conducts business in EU currencies, and also offers short delivery time, this helped the company to stand out itself in the industry. In addition, the company ensures that its customers receive good quality products at the most competitive prices by producing its products in Europe. Its state-of-art production facility also helps the company leverage highly skilled workforce, and also maintain low production costs, thereby, maintaining the product quality. 
The company emphasizes the customer specific requirements. For instance, the company offers a wide range of customization options in order to meet the specific needs of its clients. It delivers tailored solutions and works closely with its clients and ensures that its final products exactly align with the customer expectations. This strategy of offering customized and tailored products helped the company to expand its customer base.

Tytex S.W.O.T Analysis

Strength

• Robust product portfolio with customized and tailored products
• Focus on R&D activities
• Technologically well-equipped production facilities

Weakness

• Disruptions in logistics

Opportunity

• The company can additionally expand its distribution channel owing to increased demand for hip protectors
• Emerging technologies in the industry is an opportunity for the company growth

Threats

• Intense competitive pressure