Orthopedic Implants Market: 3D Printing, Smart Sensors, Robotics – Technological Developments aid Growing Demand

According to a recent Fact.MR study, the orthopedic implants market will record an impressive 6.5% CAGR between the forecast period 2018 and 2027. Governments and leading market players are taking efforts for spreading the awareness on treatment options for bone injuries such as orthopedic implants, which serve as a relieving solution to arthrodesis. These efforts are likely to augment hospital admissions, thereby underpinning the market growth in return. On the contrary, shortage of skilled surgeons, unfavorable reimbursement policies, and regulatory barriers related to product approvals continue to deter growth of the orthopedic implants plants.

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Orthopedic Implants Market: 3D Printing, Smart Sensors, Robotics – Technological Developments aid Growing Demand

While an ageing demographic and medical innovation continue to be key growth determinants for the orthopedic implants market, lack of exercise and obesity also contribute to high rate of degenerative bone diseases, and osteoarthritis. This has driven demand for orthopedic implants across the globe. Demand for trauma-related orthopedic implants has also been observed to be robust, with increases cases of sporting accidents and road collisions.

Recognizing the rising demand, manufacturers of orthopedic implants have developed new technologies to cater the requirement, meanwhile enhancing their product penetration and market reach. Customized orthopedic implants produced by using 3D printing technology are potent in reducing the surgery cost and duration, and offer a relatively long-term stability. 3D printing technology is being leveraged by top companies in the orthopedic implants market to improve integration between metal and bone, in case of implants with the size-controlled micro-pore structures, as well as for surgical tools and anatomical models.

Modern orthopedic implants also feature embedded sensors that offer surgeons with real-time data, assisting them to improve the post-operative evaluation and positioning of the implants. Smart-sensor enabled technology is likely to gain high popularity in the orthopedic implants market, as it hold high potential in addressing problems associated with periprosthetic infection. Robotic devices are also gaining increased momentum in the orthopedic implants market, as they facilitate surgeries to be carried out with greater reproducible precision and smaller incisions. However, high cost of these devices might deter their adoption in the orthopedic implants market.

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Orthopedic Implants Market: Regulatory Barriers and Compliance Requisites to Constrain Growth Prospects

Limited reimbursement coverage options have persisted as a major challenge faced by patients in the orthopedic implants market. Risks such as metal implants-associated adverse effects, implant dislocations, post-surgery infections, wear debris, and hypersensitivity have been endangering the patient outcomes, which in turn has led to increased incidences of product recalls. Regulatory bodies have therefore enforced stringent product approval procedures, with patient safety being the primary agenda, which in turn has resulted in delayed timelines of product approval.

Current stringent regulatory framework is likely to confine growth prospects of the orthopedic implants market to a significant extent in the forthcoming years. Requirement of high, initial investment and regulatory compliance requisites have been restricting entry of new participants in the orthopedic implants market. Nature of the orthopedic implants market remains fragments and competitive, with the wide distribution network and strong brand identity of few existing international players retaining their pervasive dominance.

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