Smart Orthopedic Implants Market Overview
According to latest research by Future Market Insights, smart orthopedic implants market is set to witness steady growth during 2021-2031. Demand for smart orthopedic implants market will witness steady recovery in short-term, with optimistic growth outlook in the long-run. Unfavorable reimbursement policies and less number of skilled surgeons will mean limited opportunities in near future.
However, rapid rate of the co-morbidities that include obesity and diabetes worldwide will provide momentum to the smart orthopedic implants market.
Smart Orthopedic Implants Market Dynamics
There are approximately 120 ongoing clinical programs for rheumatoid arthritis across the globe, at different stages of development. Rheumatoid arthritis (RA) is, currently incurable and an unending autoimmune disease that basically attacks the joints, is prominent. It is assessed to infect approximately 4.9 million individuals across the major markets. Rheumatoid arthritis infects roughly 1% of the worldwide population.
Thus, rising geriatric population with amputation of diseases like rheumatoid arthritis, bursitis increases the demand for smart orthopedic implants.
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Surge in Adoption of Technological Advancements
Technological advancements in orthopedic implants is likely to be a factor driving the market scenario in the forecast period. Use of 3D printers for orthopedic surgeries in order to attain improved integration of metal and bone helps the surgeons a quicker method.
Moreover, rapid development of smart sensor technologies which aims to provide better picture to the surgeon especially about the post-operative measures to be taken into consideration
Europe Demand Outlook for Smart Orthopedic Implants
The Europe smart orthopedic implants market is expected to grow at a profitable rate over the forecast period. This growth is owed to the presence of an increasing number of key players and the opportunistic approach to new investments in the field of smart orthopedic implants.
For instance, in June 10, 2021 Medtronic announced FDA approval of its next generation recharge-free spinal cord stimulation platform, Vanta™ implantable neurostimulator offers up to 11 year battery life and personalized pain relief.
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Key Manufacturers and Suppliers of Smart Orthopedic Implants
Some of the leading manufacturers and suppliers of smart orthopedic implants include
- Globus Medical, Inc.
- Medtronic, plc
- Wright Medical Group N.V.
- Zimmer Biomet Holdings, Inc
- Johnson & Johnson
- Stryker Corporation
- NuVasive, Inc.
- Smith & Nephew plc.
- Arthrocare Corporation
- BioTek Instruments, Inc.
- Conmed Corporation
- Integra Life Sciences Holdings Corporation
- KYOCERA Corporation
- Teijin nakashima medical co. ltd.
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Key Segmentation
By Product Type:
- Hip Reconstruction
- Knee Reconstruction
- Shoulder Implants
- Spinal Implants
- Trauma Implants
By Material:
- Bone Cement
- Metal
- Cobalt
- Alloy
- Titanium
By End user:
- Hospitals
- Speciality Centers
- Orthopedics Clinics
- Ambulatory Surgical Centres
About FMI:
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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