August 19, 2019 by Steve Blade
The orthopedic implants market report is a coherent market intelligence on the key revenue growth drivers, industry opportunities, industry trends, and challenges that will eventually impact the growth trajectory of the orthopedic implants market. An overview of the orthopedic implants market
On account of tremendous development in medical technology, people live longer with the growing population of agile young adults marred by sports injuries or road accidents. Accordingly, it has become imperative to develop implants with biocompatibility and superior longevity.
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3D printing ecosystem is significantly contributing to the development of cost-effective and superior orthopedic implants. A rising number of medical device manufacturers—large & small—are working hard for the production of sophisticated orthopedic implants for enhanced functionality and design. The superior process is metal powder bed fusion—laser and beam powered—which lessens lead time and production costs vis-à-vis conventional manufacturing technique.
There are complexity with respect to production of an orthopedic implant inherently associated with the capability to simulate porosity, bone structure and a surface texture which produces high-friction and leads to bone ingrowth around the implant. In order to avert these obstacles, medical device manufacturers are embracing 3D technology. Additionally, robotic devices have gained traction in the orthopedic implant market as it succors surgeries to be conducted with superior reproducible precision and slight incision.
Orthopedic implants medical devices are scrutinized under stringent regulation owing to critical nature of them being placed within the body. As such, on April 5, 2017, new medical device regulations and in vitro diagnostic medical devices regulations was published by the European Parliament, which should be implemented after a transition period of up to five years. This robust regulation will enable a supply of safe devices and allow monitoring of the introduction and use of the devices.
Validation of the information in the report is done through primary sources, including in-person interactions, surveys, view of seasoned analyst, interviews and in-person interactions and insights of analyst coupled with secondary sources incorporating trade journals, verified paid sources, resourceful databases and trade journals. Absolute dollar opportunity analysis has also formed basis for the robust analysis of the report.
Acquisitions and mergers continue to be key strategic expansion methods adopted by companies operating in the orthopedic implants market. Acquisition of Mako Surgical Corp. by Stryker – for total hip and knee construction robotic products for orthopedic implants, and Blue Belt Holdings by Smith & Nephew for robot-assisted orthopedic implant surgery product for partial knee replacements are prime instances of such strategic expansions.
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.
Orthopedic Implants Market: Competitive Landscape
The report also includes competitive scenario of the orthopedic implants market, including competition intensity mapping with respect to market taxonomy; competition dashboard and company profiles. The section, based on Porters’ Five Force Analysis, also sheds light on financials overview, strategies, product portfolio and recent developments.
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