Growth in the market
for minor orthopedic replacement implants has
recently accelerated to 6.8% year on year, a report from The Business Research
Company shows, so will be worth over $2
billion in 2021. All these minor joint replacements are highly complex and have
previously suffered from a high failure rate, so that it has taken
technological advances in both the implants themselves and the surgery to make
this market grow. For example, metals such as titanium, cobalt, chromium,
molybdenum and other new materials such as polyethylene have replaced the
plastics and ceramics that were earlier being used in the design and
manufacture of implants. The metals have a porous surface which enhances
osteo-integration, thus reducing revision rates. Polyethylene reduces wear and
improves the longevity of the minor joint replacement implants. This shift
towards new high quality materials in implants has driven the market since
2013. Longer life for implants makes them suitable for use in younger fracture
patients, for whom they were previously not recommended owing to the need for
replacement every 10 to 15 years.
By far the largest segment of the minor
orthopedic implants market is shoulder replacement, currently worth 86% of the
total. Second largest, at 7.9%, is the foot & ankle replacement implant market.
Growth in all four segments - shoulder, wrist, elbow and foot & ankle
implants - has accelerated recently.
North America is by far the world's largest
market for minor orthopedic replacement implants. It currently accounts for 62%
of global minor orthopedic replacement implant sales by value. The major driver
of the market in the region is the growing number of Americans who suffer with
arthritis. In the USA the arthritis population of 54.4 million adults in
2013-15 will rise to 78.4 million by 2040. Of these 78.4 million adults, 34.6
million adults will report arthritis-based activity limitations. Procedure
volumes in the USA are currently over five times as great as those in the
second largest market, Germany.
Implant prices are highest in Asia - over $7000
in China and over $6000 in India. These high prices, especially in emerging
economies, have supported the growth of generic manufacturers, following the
expiry of patents for implants. For example, around sixteen generic companies
have entered the orthopedic replacement implants market in the USA, including
Orthosolutions, Covenant Orthopedics, Ortho Direct USA, and Emerge Medical.
These generic companies are making copies of legacy implants with proven
designs and biomaterials. They offer lower prices than those of branded
implants and are thus a big threat for the big orthopedic device manufacturers
such as Stryker, J&J/DePuy/Synthes, Zimmer/Biomet, Smith & Nephew and
Medtronic Spine.
Where to Learn More
Read Minor Orthopedic Implants Replacement Global Market Report 2018 from The Business Research Company for information on the following:
Read Minor Orthopedic Implants Replacement Global Market Report 2018 from The Business Research Company for information on the following:
Markets covered: Shoulder Replacement Implants, Wrist Replacement Implants, Elbow
Replacement Implants, Foot & Ankle Replacement Implants
Companies mentioned: Zimmer Biomet, DePuy Synthes, Wright Tornier, Exactech, Stryker, Integra, Smith & Nephew
Countries: China, Japan, India, Australia, USA, Canada, Brazil, UK, Germany, France, Russia
Regions: Asia-Pacific, North America, South America, Western Europe, Eastern Europe, Middle East & Africa.
Time series: Five years historic and forecast.
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Companies mentioned: Zimmer Biomet, DePuy Synthes, Wright Tornier, Exactech, Stryker, Integra, Smith & Nephew
Countries: China, Japan, India, Australia, USA, Canada, Brazil, UK, Germany, France, Russia
Regions: Asia-Pacific, North America, South America, Western Europe, Eastern Europe, Middle East & Africa.
Time series: Five years historic and forecast.
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
About The Business
Research Company.
The Business Research Company is a Business Intelligence Company
which excels in company, market and consumer research. It has offices in the
UK, the US and India and a network of trained researchers in 15 countries
globally.
Contact Information.
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Europe: +44 207 1930 708
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