Global Hip And Knee Implants Market: Market Penetration to Drive Growth
GlobalData, the industry analysis specialists' new report, "Global Hip and Knee Implants: Market Penetration to Drive Growth" finds that an increasing incidence of osteoarthritis in the aging population pool will drive growth of hip and knee implants market, globally. An increasing aging population and innovative product offerings are expected to drive revenue growth and investor interests in the global hip and knee implants markets.
The Future of Global Hip and Knee Implants Markets Looks Bright
The hip and knee replacement markets will continue to grow with healthy growths of 8.8% and 11.6% respectively during 2008 - 2015. This growth will primarily be driven by increasing procedure volume arising from an increase in awareness of disease states and improved surgical interventions such as smaller or minimal incision surgeries. More patients will undergo joint arthroplasty surgeries due to the beneficial outcomes which include both pain relief and improved quality of life. Procedure growth will be driven by the increase in the prevalence and incidence of indications such as osteoarthritis and related conditions that result in the need for joint replacement surgeries.
Minimally invasive surgery is another emerging trend in the hip and knee replacement market that will define the market growth in the future. Reduced hospital stay, reduced trauma and pain, and faster rehabilitation will continue to bring more patients who will opt for Minimally Invasive Surgery (MIS) procedures.
Increasing Patient Demand Driving Growth
An increase in the aging population and a rising incidence of osteoarthritis has created a huge demand for hip and knee arthroplasties. Over 40 million people suffer from arthritis in the US according to the American Orthopedic Association. More and more aged people now demand better quality of life compared to the earlier generation. Patients with arthritis and similar conditions and aged above 65 now demand for procedures that provide an active life - a trend that is fast catching up with today's elderly population not only in the US, but in other developed economies like Europe and Japan as well.
Computer Assisted Surgery to Increase Success Rate of Replacements
Computer assisted surgical interventions are increasing success rates of hip and knee replacements, thus resulting in improved treatment outcomes and enhancement in the quality of life.
Hip and knee replacements, traditionally were subject to a 70% revision outcome. This was due to variations in surgical techniques that included incorrect positioning or orientation of implants and improper alignment of the limb, leading to sub-optimal outcomes.
Computer-assisted arthroplasty or navigational surgery uses computer navigation technologies offering enhanced accuracy during fixation of implants. This technique promises to provide improved functionality, better fits, accentuated quality of life and also reduces post-operative pain. The bone is mapped using sensors placed at specific points on the bone that later project a 3 dimensional image of the bone. The computer then aids in the development of a plan based on registration and implementation of the implant during the procedure.
Computer assisted arthroplasty procedures, though in their early stages of use, are expected to position themselves as key drivers for the growth of the global hip and knee market. Increased surgeon education about this procedure needs to be aggressively advertised.
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