Orthopedic Prosthetic Implants Market Introduction
Orthopedic prosthetics are medical devices utilized to substitute or make an available fixation point of bone to hold the implant or to replace the joint surfaces. Orthopedic prosthetics are used to replace troubled joints. Prosthetic surgeries involve removal of damaged joints and insertion of implants. Orthopedic prosthetic implants are manufactured from titanium alloys and stainless steel for better strength and long term durability. Orthopedic prosthetic implants are lined with plastic or cemented for proper fit and provide strength to the bone. According to the oat open access text ltd., surgeons prefer total hip replacement using femoral shaft medullary canal stem made of titanium, cobalt-chromium neck, and ceramic or cobalt-chromium-molybdenum.
Orthopedic Prosthetic Implants Market- Competitive Landscape
Major players operating in the global orthopedic prosthetic implants market include Medtronic, B. Braun Melsungen AG, DePuy Synthes Companies, Aesculap Implant Systems, LLC, Smith & Nephew plc, K2M Group Holdings, Inc., Stryker Corporation, Zimmer Biomet Holdings, Inc., Wright Medical Group N.V., Integra LifeSciences Corporation, DJO Global, Inc., Baumer S.A., and Extremity Medical, LLC.
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In 2016, K2M Group Holdings, Inc., a company engaged in the development and commercialization of innovative and proprietary complex spine and minimally invasive spine technologies and techniques, expanded its CASCADIA Lateral Interbody System that uses 3D printing with the goal of allowing for bony integration throughout an implant.
Medtronic plc, established in 1949, is one of the leading medical device equipment manufacturer, engaged in the development, manufacturing, distribution and marketing of devices for medical therapies across four business segments, including minimally invasive therapies group, restorative therapies group, cardiac and vascular group, and diabetes group.
Established in 1941, Stryker Corporation is a medical device company operating its business through three business segments, including Orthopedics, MedSurg, and Neurotechnology and Spine. The orthopedics segment offers implants for trauma surgeries, hip and knee replacement, and joint replacements.
Orthopedic Prosthetic Implants Market Dynamics
Technological advances in prosthetic implants contributing to the growth of the market
Significant technological advances owing to the rise in research and development are likely to influence positively the orthopedic prosthetic implants procedures and benefits the patients in enhancing their mobility with prosthetics products. Hence, orthopedic prosthetic implant is expected to be a vital procedure in terms of technological advancement in medical field which can decrease the rate of multiple surgeries among patients by improvising disfigurement issues, and birth defects with various clinical conditions & prosthetic implants.
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Alarming increase in spine disorders to create demand for orthopedic prosthetic implants
An article published in reumatologia stated that musculoskeletal disorders were the cause of nearly 166 million years lived with disability (YLDs), with neck and low back pain accounting for 69.9% deaths. In 2015, nearly 33 million man-days were lost due to spine disorders, and nearly 2.7 million medical certificates were issued for back pain. Current demographic changes and lifestyle-related factors increase the risk of back problems. Hence, demand for medical services to treat disorders of the spine and their symptoms is also likely to augment the global orthopedic prosthetic implants market.
Limited insurance coverage, inflated cost of devices & implants, and preference for drugs over treatment devices are the factors expected to restrain the global market in the near future.
Orthopedic Prosthetic Implants Market Segmentation
The orthopedic prosthetic implants market can be bifurcated on the basis of:
- Prosthetic Implant
Based on the indication, the orthopedic prosthetic implants market is segmented into
- Replacement surgery
- Plate surgery
Based on the prosthetic implant, the orthopedic prosthetic implants market is segmented into
Based on the end-user, the orthopedic prosthetic implants market is segmented into
- Ambulatory surgical centers
The report on orthopedic prosthetic implants market is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The orthopedic prosthetic implants market report provides in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with market attractiveness as per segments. The orthopedic prosthetic implants market report also maps the qualitative impact of various market factors on market segments and geographies.
Regional analysis for orthopedic prosthetic implants market includes:
- North America
- Latin America
- Asia Pacific
- Middle East & Africa (MEA)
Economic growth in India and China to drive Asia Pacific market
The market in Asia Pacific is expected to grow at a rapid pace due to increase in geriatric population, rise in prevalence of cancer and incidence of spine disorders, growing number of cases of craniosynostosis surgery, changing lifestyle, and surge in awareness among patients about reconstruction surgery, and increase in per capita expenditure. Additionally, the economic growth in India and China is supporting the health care infrastructure as well as expansion of medical device companies and biomedical devices labs is likely to drive the growth of orthopedic prosthetic implants market in Asia Pacific region by 2027.
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The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
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