2019 Global Major Orthopedic Joint Replacement Implants Market Size, Growth, Trends, Industry Analysis With Top Key Players
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Major Competitors are Zimmer Biomet, Depuy Syntes, Stryker, Smith & Nephew, Aesculap
Growth in the major orthopedic joint replacement implants market in the historic period resulted from the increasing numbers of elderly people, the rising prevalence of chronic diseases such as obesity and arthritis, and increasing awareness about the importance of joint replacement surgeries. Factors that negatively affected growth in the historic period were high revision burden, high cost of replacement surgery, and stringent government regulations.
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Major trends influencing the major orthopedic joint replacement implants market include:
3D Printing Technologies In Implants - 3D printing technologies have become increasingly prevalent in the healthcare industry as a treatment procedure to enhance the speed and effectiveness of joint surgery. Major companies such as Stryker, Johnson and Johnson and Zimmer have launched implants which use 3D printing technology to provide customized surgery for their patients. This is done by replicating components used in the surgery by using patient’s X-rays images or CT scan which thereby reduce the risk of a wrong fit.
Robots Used In Knee Replacement Surgery - Major orthopedic companies are increasingly adopting robotic technologies to increase efficiency and reduce the failure rate of knee surgery. Robots help in reducing the time of surgical procedures and offer better results by eliminating the risks of complications. Companies such Stryker and Smith and Nephew believe that robots give them an edge in the major orthopedic replacement implants market. For instance, in 2017, Stryker Corporation, launched the MAKO robot which is enabled to perform total knee replacement in the US.
North America is the largest market for major orthopedic joint replacement implants, accounting for almost 54% of the global market. It was followed by Western Europe, Asia-Pacific and then the other regions. Going forward, Asia-Pacific and South America will be the fastest growing regions in this market.
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