The major orthopedic
joint replacement implants market includes implants used in knee and hip
replacement surgical procedures. The hip and knee orthopedic surgical implants
market, and the hip and knee reconstruction market are also covered in this
report. Replacements of hip and knee joints are carried out in patients
suffering from chronic pain and improper functioning of hip and knee joints. These
replacement surgeries relieve the pain and restore joint mobility.
TBRC’s report covers
the orthopedic market and orthopedic trends, order the report at
Orthopedic Implants Market
The global major orthopedic joint
replacement implants market grew at a compound annual growth rate (CAGR) of
about 3%. This growth can be attributed to factors such as rise in ageing population, increased prevalence of
obesity and arthritis conditions, and other such factors mentioned in the
report. By 2021, the CAGR of this market is expected to reach 4%.
Developing countries, including India,
China, and Brazil, are expected to attract investments into their healthcare
systems, thereby increasing the potential of the major ortho market. This is
mainly due to continued economic growth, positive demographic trends,
healthcare reforms, and government initiatives, policies inviting foreign
investment, urbanization, and increasing income levels.
For instance, Indian orthopedic
implant manufacturing companies such as Narang Medical Limited and Atlas
Surgical are investing heavily in the research and development of surgical
replacement implants to provide competition to US companies and provide
affordable treatment to the large population suffering from rheumatoid
arthritis..
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The
increasing disposable income and growing awareness of chronic diseases such as
end-stage arthritis has led to the increased use of orthopedic implants in
emerging markets. Economic growth has been significant in markets such as China
and India. For instance, India recorded GDP growth in excess of 6% in 2017. This
has led to higher spending on healthcare. The per capita healthcare expenditure
in India rose from $62 in 2014 to $69 in 2015.
Also, globalization is expected
to pave way for joint ventures, foreign investments, collaborated research and
global expansion in the major orthopedic replacement implants market. Major
orthopedic device companies are engaging in acquisitions, mergers, or
partnerships to enhance their products and make a presence in the global
market. For instance, in 2016, Stryker Corporation, one of the leading medical
technologies firms, acquired British company Stanmore Implants for $41 million
thereby allowing the company to work on differentiated technologies and expand
their presence in the global orthopedic oncology market.
Top orthopedic device companies included in the report are Depuy Synthes, Zimmer and Biomet, Stryker, Smith
& Nephew, and Aesculap.
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