The orthopedic implants market continues to be an avenue in the global medical technology space. Emergence of advanced technologies coupled with rise in orthopedic disorders are major growth determinants for the orthopedic implants market. A recent report by Fact.MR envisions the orthopedic implants market to record on august 6.5% CAGR over the forecast period 2018 to 2027 . In practice, orthopedic surgeries are used in the field of orthopedic surgeries.
Orthopedic implants market, trailed by hip reconstruction. Governments across the globe are looking for ways to reduce orthopedic implants used in knee reconstruction surgeries. For example, the National Pharmaceutical Pricing Authority (NPPA) has announced price caps on the orthopedic implants employed in knee reconstruction surgeries, bringing the basic models down to 65%.
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Additionally, the NPPA has also passed off most of the margins in trade, thereby alleviating the impact of the orthopedic implants‘ reduced prices on research & innovation. Search efforts from the government will further underpin the growth of the orthopedic implants market in the near future. Orthopedic implant sales for knee reconstruction are envisaged to increase at 6.3% CAGR through 2027 , according to Fact.MR study. In case of hip reconstruction surgeries, the dislocation of orthopedic implants has prevailed as a prominent concern among patients and healthcare professionals alike.
A recent study carried out by a Well-Known Research Director, Geoffrey Westrich, has published a paper entitled „Dual Mobility,“ with zero dislocation tendency in hip reconstruction and replacement. Researchers have found out about dual-mobility orthopedic implants to have no dislocations post three-year follow-up of patients.
Results of the study are considered to be encouraging, high demand for orthopedic implants among patients, and are likely to lessen concerns. Search novel revelations and discoveries will continue to propel demand for orthopedic implants associated with hip reconstruction. Revenues from sales of orthopedic implants for hip reconstructed exceeded US $ 16,800 Mn in 2017.
North America’s preeminent orthopedic implants market will continue to prevail, states Fact.MR study. According to the American Joint Replacement Registry (AJRR), over 7 million have been collectively linked to knee and hip surgeries. Over half revenue share of the market wants to be accounted for by orthopedic implants sales in North America by 2027-end.
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The US Food and Drug Administration (FDA) has approved the Surgical System as the first one. More companies have been investing in the technology for providing a better navigation during the procedure, and obtaining 3D scans to aid designing of customized joints.
Acquisitions and mergers continue to be key strategic expansion methods adopted by companies operating in the orthopedic implants market. Acquisition of Mako Surgical Corp. by Stryker – for total hip and knee construction robotic products for orthopedic implants, and Blue Belt Holdings by Smith & Nephew for robotic-assisted orthopedic implant surgery are often used for such strategic expansions.
Continues advancements in orthopedics have resulted in the development of new, novel implants, with several of them being used in clinical practice with none or little evidence of their effectiveness and safety. Appropriate staging of new orthopedic implants implementation is therefore gaining importance in the market, to eliminate relevant adverse effects on patients. Methodologies for evaluation of new orthopedic implants are now used as a basis for contemplating their success and resolving observed drawbacks.
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