Market Research Reports and Insightful Company Profiles
Hip and Knee Orthopedic Surgical Implants Market
Shares, Strategies, and Forecasts, Worldwide, 2016
Orthopedic surgical implants help replace deteriorated joints. This deterioration could be due to
various causes like disease, aging, injury or osteoarthritis. This is especially common in geriatric
populace. Orthopedic surgical implants relieve pain, restore movement and offer stability to the
patients. Hip and knee replacements are the most common orthopedic implants. Reconstructive
surgery of the joints is performed to modify the affected area in order to implant one or more
manufactured components. It could involve the usage of bone cement. Main reconstructive
surgeries involve joints.
Global market for hip and knee orthopedic surgical implants was valued at USD 17 billion in 2015. It
is projected to grow to USD 33 billion by 2022. Demand will be driven by growing geriatric
population across the world. Over 324,000 people underwent total hip replacement surgery in 2015,
in the U.S. itself. This has been possible due to technological advancements over a period of time.
Computer-assisted total hip replacement, a recent development, has revolutionized the total hip
replacement surgery procedure.
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However, reduced reimbursements by insurance companies are adversely affecting market growth.
This is forcing cost-cuts across the supply chain. Manufacturers of orthopedic implants provide
medical instruments that are used by orthopedic surgeons while performing surgeries. The choice of
implant by a surgeon depends on his/her expertise with a particular implant, the diagnosed
condition, and the fitment of the chosen implant with the patient. Often, surgeons pick devices that
have the highest success rate.
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