The orthopedic implants market continues to be a promising avenue in the global medical technology space. The 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 demand for orthopedic implants to record an august 6.5% CAGR over the forecast period 2018 to 2027.
Although surgeries of orthopedic implants incorporating robotics offer reproducible precision and are less invasive, the expensiveness of the technology coupled with the requirement for robust, evidence-based studies continues to impede its adoption in orthopedic surgeries.
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Global Orthopedic Implants Market: Segmentation
By Product Type
Hip Reconstruction
Knee Reconstruction
Shoulder Implants
By Fixation Type
Cement
Cementless
Hybrid
By End User
Hospitals
Orthopedic Clinics
Ambulatory Surgical Centers
Digital Transformation in Healthcare Presenting Opportunities for Orthopedic Implants Market Growth
Healthcare organizations around the world are deploying digital tools to accommodating changing consumer preferences. They are pressing on solving the long-standing challenge pertaining to care model innovation. Considering this, the focus on making healthcare affordable and more transparent will increase. Adoption of care model innovation in healthcare will have a profound impact on the Orthopedic Implants market.
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Revenues from sales of orthopedic implants for hip reconstructed exceeded US$ 16,800 Mn in 2017.
North America’s preeminent in the orthopedic implants market will continue to prevail, states Fact.MR study. According to American Joint Replacement Registry (AJRR), over 7 million America have been associated with knee and hip reconstruction surgeries collectively. Over half revenue share of the market will be accounted by orthopedic implants sales in North America by 2027-end. The U.S. Food and Drug Administration (FDA) has approved a slew of robotic surgery systems for orthopedic implants, with the da Vinci Surgical System being the first one. More companies have been investing in the technology for providing a better navigation during the procedure, and obtain 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 robot-assisted orthopedic implant surgery product for partial knee replacements are prime instances of such strategic expansions.
For More Insight- https://www.einpresswire.com/article/557048856/demand-for-consumer-appliances-spearheading-sales-electronics-and-electrical-ceramics-says-fact-mr-s-study
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