Orthopedic Implants Market: Sales in Knee Reconstruction Pre-eminent, Hip Reconstruction to Gain Steady Momentum

The orthopedic implants market continues to be a promising avenue in the global medical technology space. The emergence of advanced technologies coupled with rising in orthopedic disorders is major growth determinants for the orthopedic implants market. The orthopedic implants market to record an August 6.5% CAGR over the period 2018 to 2027. Although surgeries of orthopedic implants incorporating robotics offer reproducible precision and are less invasive, expensiveness of the technology coupled with the requirement for robust, evidence-based studies continues to impede its adoption in orthopedic surgeries

Knee reconstruction will continue to hold major revenue shares of the orthopedic implants market, trailed by hip reconstruction. Governments across the globe are taking efforts to reduce prices of 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’ price down by 65%.

Additionally, the NPPA has also passed off most of the margins in trade, thereby alleviating concerns regarding the impact of the orthopedic implants’ reduced prices on research & innovation. Such 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. In the case of hip reconstruction surgeries, 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, unveiled that patients receiving newer implants, referred to “dual mobility,” has zero dislocation tendency in hip reconstruction and replacement. Researchers have found out dual-mobility orthopedic implants to have no dislocations post three-year follow-up of patients.

Results of the study are considered encouraging to meet active, high demand for orthopedic implants among patients, and are likely to lessen concerns apropos of dislocation. Such 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.

Continues advancements in orthopedics have resulted in the development of new, novel implants, with several of them being employed in clinical practices with none or little evidence on their effectiveness and safety. Appropriate staging of new orthopedic implants implementation is, therefore, gaining emphasis in the market, to eliminate relevant adverse effects on patients. Methodologies for evaluation of new orthopedic implants are now being used as a base for contemplating their success and resolving observed drawbacks.

The insights presented here are from a research study on Orthopedic Implants Market by Fact.MR.

https://www.factmr.com/report/990/orthopedic-implants-market

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