The dynamics of the joint reconstruction devices industry has strengthened with consistent technological improvements, including the adoption of 3-D printing.
A notable uptick in the incidence of orthopedic injuries and musculoskeletal disorders means that the global joint reconstruction devices industry will witness significant growth prospects over the next few years. The prevalence of osteoporosis and osteoarthritis is a major health concern across the world, especially among older individuals. With hips, knees, ankles, and shoulders getting replaced more frequently, the number of specialty care centers offering joint replacement procedures is increasing.
High success rates and technological advances are among the main factors behind the heightened awareness about and the preference for different joint replacement surgeries. The demand and popularity of these procedures will only increase with an aging global population, a widespread occurrence of bone-related disorders, and the rise in sports injuries and accidents.
In terms of the annual valuation, the global joint reconstruction devices market size is projected to surpass $25.3 billion by 2027. Some of the world’s most prominent companies including Medtronic, Stryker, Zimmer Biomet, Smith & Nephew, DJO Global, and Globus Medical are part of the competitive landscape in the market.
This article discusses a few major ongoing trends and developments in the industry.
Advent of New, Technologically Advanced Shoulder Replacement Solutions
Shoulder replacement has emerged as an effective option for those living with chronic pain from osteoarthritis and other conditions, especially when nonsurgical treatments have failed. Recent advances in implants and surgical techniques provide hope for patients beyond pain and restored function.
Shoulder replacements will account for a fair share of the joint reconstruction devices industry by 2027. It is estimated that about 200,000 Americans undergo shoulder related surgery for torn rotator cuffs. Completely torn rotor cuffs usually require join reconstruction procedures.
The manufacturers of joint reconstruction devices are focusing on expanding their portfolio to include advanced shoulder replacement technologies. Earlier this year in January, for instance, Smith & Nephew had concluded the acquisition of the extremity orthopedics business of Integra LifeSciences for $240 million. The deal helped Smith & Nephew strengthen its shoulder replacement and upper and lower extremities offerings. A new shoulder replacement system that the company aims to launch next year is also part of the acquisition.
The advent of advanced, emerging technologies such as 3-D printing, robotics and augmented reality (AR) is making shoulder reconstruction safer, more accurate, and more efficient. Quoting a recent instance, Medacta recently collaborated with the Dartmouth-Hitchcock Medical Center to create the NextAR Shoulder application that will offer intraoperative guidance to surgeons. NextAR is apparently the industry’s first AR-enabled application for total shoulder replacement approved by the FDA. The application also received CE marking for shoulder, knee and spine surgery applications in May.
By Hrishikesh Kadam | MedTech Intelligence
Image Credit: Hrishikesh Kadam / MedTech Intelligence