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(Health-NewsWire.Net, March 30, 2020 ) Market Overview
• Global Orthopaedic Implants Market Expected to reach at a high CAGR by 2026: DataM Intelligence
• An orthopaedic implant is a medical device, used to replace or support a missing joint bone or a damaged bone. Orthopaedic implants are placed to treat the deformities in order to restore the normal skeletal function, and stabilise body posture. These implants market has seen a paradigm shift from conventional surgical procedures to the use of modern fixation and prosthetic devices. These orthopaedic medical implants are mainly manufactured using stainless steel and titanium alloys for strength and provided a plastic coating that acts as artificial cartilage.
Market Dynamics
• The orthopaedic implants market growth is driven by several factors, such as an increase in geriatric population, increase in Orthopaedic diseases, technological advancements and rise in bone injuries due to sports or road accidents.
• Geriatric population is the target population of Orthopaedic implants. The more significant number of elderly adults results in a higher prevalence of osteoarthritis and other conditions leading to injuries requiring Orthopaedic devices. In 2016, 8.5% of the people worldwide that is equivalent to 617 million are aged 65 or over. According to data collected by United Nations the elderly population worldwide is expected to reach 17% of world’s population by 2050 that means will reach 1.6 billion. Trauma and degeneration are principal causative factors for Orthopaedic problems in the elderly. Along with limiting mobility, these problems are also associated with pain and discomfort. Osteoporosis is a major cause of most Orthopaedic disorders in the elderly since it causes the bones to become fragile, increasing the risk of fractures with even slight falls. Even though these problems, being age-related, cannot be prevented. The fractures and degeneration can be taken care with orthopaedic implants.
• The rise in bone-related disorders such as arthritis, osteoarthritis, osteoporosis and many more are increasing the demand for implants globally. For instance, a large patient population is suffering from moderate to severe psoriatic arthritis, and the number is growing across the globe. According to the World Health Organization (WHO), in 2018, more than 45 million people around the world were affected by psoriatic arthritis. If left untreated, psoriatic arthritis may lead to joint damage permanently due to the degeneration of the cartilages present in the joints. Joint replacement implants are the treatment option available for psoriatic arthritis and if carried out at an earlier stage leads to the prevention of many more diseases associated with psoriatic arthritis such as high blood pressure, heart disease, high cholesterol, and diabetes.
• Introduction of robotic surgeries is one of the major market driver as Orthopaedic surgeries that incorporate robotics are less invasive and offer reproducible precision, resulting in shorter hospital stays and faster recovery times. Another critical technological advancement is smart implants that have embedded sensors that provide real-time information to surgeons for positioning and post-operative evaluation for better patient care throughout the treatment pathway. These implants have the potential to reduce periprosthetic infection, which is a growing problem in Orthopaedic practice. Sensor-enabled technologies have given health care providers a choice of unique, cost-effective products. For instance, NuVasive Technologies’ MAGEC and PRECICE implant systems enable both surgeons and patients to non-invasively adjust the implant’s position by remote control using magnets. Similarly, Ortho-Tag allows surgeons to gauge the pressure on an implant, the chemical balance and temperature of the tissue, and the presence of harmful organisms.
• With the increase in the number of accidents, the increase in bone injuries has also increased. According to the World Health Organization (WHO), in 2018, around 1.35 million people died, and more than 20 to 50 million people experienced nonfatal injuries, due to road traffic crash. Similarly sports injuries also require Orthopaedic implants in many cases.
Segmentation Analysis
• By product type, the global Orthopaedic implants market is segmented into reconstructive joint replacements, spinal implants, dental implants, orthobiologics, craniomaxillofacial and others. Among these reconstructive joint replacements segment is expected to hold the dominant market share over the period of forecast (2019-2026) due to increasing number of arthritis and other Orthopaedic disorders that leads to joint replacement surgeries. In join replacement implant surgery parts of an arthritic or damaged joint are removed and replaced with a metal, plastic or ceramic device called a prosthesis. The prosthesis is designed to replicate the movement of a normal, healthy joint. Hip and knee replacements are the most commonly performed joint replacements. The knee is the largest joint in the body and having healthy knees is required to perform most everyday activities. According to American College of Rheumatology, in 2010, approximately 719,000 total knee replacements and over 332,000 hip replacements were performed in the U.S. This number continues to grow as the global population ages.
• By material, the market is segmented into ceramics, metallic, polymeric and natural. Among these metallic materials is expected to hold the largest market share over the period of forecast (2019-2026) due to cost-effectiveness and load-bearing properties of these materials. Metals used in Orthopaedic implants include surgical grade stainless steel, cobalt-chromium alloys and pure commercial titanium or titanium alloys. Although metallic biomaterials are highly used in many of the implants, the biocompatibility of implant metals is of considerable concern as they can corrode in the hostile body environment. The consequences of corrosion include loss of material, which can weaken the implant, and the corrosion products can escape into tissue, resulting in undesirable effects. Hence, the market of natural materials is expected to grow at the highest CAGR over the period of forecast (2019-2026).
Geographical Analysis
• North America is dominating the Orthopaedic implants market in 2018 and is estimated to hold the largest market size over the forecast period (2019-2026), owing to increase in geriatric population, advanced healthcare infrastructure, increase incidences of orthopaedic disorders and favourable government initiatives. There are several companies present in the region that are working towards new technological advancements in orthopaedic implants. According to a 2018 U.S. Census Bureau report, in 2035 there will be 78 million people over the age of 65 years compared to 76.4 million under the age of 18. Old age comes with reduction of bone density that ultimately leads to bone degeneration and makes more prone to many other Orthopaedic disorders such as osteoporosis. According to International Osteoporosis Foundation, in the year 2018, in U.S. 44 million people were living with osteoporosis or low bone mass which is around 55% of the total 55 years and older population. About 4.7 million Americans underwent total knee arthroplasty, and about 2.5 million had total hip arthroplasty and are living with implants.
Competitive Landscape
• Some of the major key players in the market are Johnson & Johnson, Zimmer Biomet, Stryker Corporation, Medtronic Plc, Smith and Nephew Plc, Wright Medical Group N.V., CONMED Corporation, Arthrex, Inc., DJO Global, and Globus Medical Inc.
• In the Orthopaedic implants market, Johnson & Johnson hold the leadership position due to portfolio expansion, mergers, collaborations, and acquisitions. The key players are adopting various growth strategies such as new product launches, mergers & acquisitions, partnerships, and collaborations and increasing research and development and high investment which are contributing to the growth of the Orthopaedic Implants market globally.
• In September 2018, Johnson & Johnson announced the acquisition of Emerging Implant Technologies GmbH (EIT), a privately-held manufacturer of 3D-printed titanium interbody implants for spinal fusion surgery.
• In May 2018, Zimmer Biomet Holdings, Inc. announced that it had received 510(k) clearance from the U.S. Food and Drug Administration (FDA) for its Zyston® Strut Open Titanium Interbody Spacer System. This marks Zimmer Biomet's first titanium spinal implant manufactured via a 3D printing process.
• In June 2018, Johnson & Johnson announced the U.S. launch of its Femoral Recon Nail System, a nailing system that provides new options for the surgical treatment of a wide variety of long thigh bone fractures. This new system builds on the company’s comprehensive trauma portfolio of innovative solutions designed to improve outcomes for patients with hip and femur fractures.
• In April 2018, Zimmer Biomet Holdings, Inc. announced that it has received 510(k) clearance from the U.S. Food and Drug Administration (FDA) and CE Mark approval for its Persona® Trabecular Metal™ (TM) Tibia.
• In April 2018, Johnson & Johnson announced the U.S. launch of the PROTI 360° Integrated Titanium Family of interbody devices to advance care for patients who have degenerative disc disease in the neck and back.
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