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.
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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
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.
Stryker Corporation
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.
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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.
Restraining factors
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.
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