According to FutureWise analysis the market for Hip Protectors in 2023 is US$ 58.47 million, and is expected to reach US$ 89.80 billion by 2031 at a CAGR of 5.51%.
Technological advancements in external hip protectors that monitor and automatically alert users of falls may create opportunities for market growth. Market growth will be fueled by an increase in hip fracture cases. Furthermore, in several countries, the incidence of hip fractures has also increased with age in recent decades.The hip protector market is expected to grow due to the increasing number of hip fractures. Hip fracture incidence varies considerably among populations and races, but grows exponentially with age in every group. The majority of hip fractures are caused by falls, although other risk factors include decreased bone mineral density, a reduced level of activity, and chronic medication usage. The Center for Disease Control and Prevention reports that 95% of hip fractures are caused by falls. The hip protectors market is expected to grow significantly in the upcoming years due to technological advances in hip protectors. External hip protectors with automatic fall detection and monitoring can create a market opportunity.
FutureWise Market Research has instantiated a report that provides an intricate analysis of Hip Protectors Market trends that shall affect the overall market growth. Furthermore, it includes detailed information on the graph of profitability, SWOT analysis, market share and regional proliferation of this business. Moreover, the report offers insights on the current stature of prominent market players in the competitive landscape analysis of this market
According to the research study conducted by FutureWise research analysts, the Hip Protectors Market is anticipated to attain substantial growth by the end of the forecast period. The report explains that this business is predicted to register a noteworthy growth rate over the forecast period. This report provides crucial information pertaining to the total valuation that is presently held by this industry and it also lists the segmentation of the market along with the growth opportunities present across this business vertical.