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Hip and Knee Orthopedic Surgical Implants Market is Projected to Grow to USD 33 billion by 2022 : Radiant Insights , Inc
Orthopedic surgical implants help replace deteriorated joints . This deterioration could be due to various causes like disease , aging , injury or osteoarthritis . This is especially common in geriatric populace . Orthopedic surgical implants relieve pain , restore movement and offer stability to the patients . Hip and knee replacements are the most common orthopedic implants . Reconstructive surgery of the joints is performed to modify the affected area in order to implant one or more manufactured components . It could involve the usage of bone cement . Main reconstructive surgeries involve joints .
Global market for hip and knee orthopedic surgical implants was valued at USD 17 billion in 2015 . It is projected to grow to USD 33 billion by 2022 . Demand will be driven by growing geriatric population across the world . Over 324,000 people underwent total hip replacement surgery in 2015 , in the U . S . itself . This has been possible due to technological advancements over a period of time . Computer-assisted total hip replacement , a recent development , has revolutionized the total hip replacement surgery procedure .
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However , reduced reimbursements by insurance companies are adversely affecting market growth . This is forcing cost-cuts across the supply chain . Manufacturers of orthopedic implants provide medical instruments that are used by orthopedic surgeons while performing surgeries . The choice of implant by a surgeon depends on his / her expertise with a particular implant , the diagnosed condition , and the fitment of the chosen implant with the patient . Often , surgeons pick devices that have the highest success rate .
Interdisciplinary dialogue amongst the various stakeholders is a key driver of growth for the global hip and knee orthopedic surgical implants market . Collaborations and system partnerships lead to intensive exchange of information . This results in continuous improvements in patient care . Vendors aim to actively contribute to betterment of procurement , application and logistic processes in the medical space .
The medical community aims to perform more efficient joint implant surgeries in healthcare establishments . Factors aiding the decision of the most suitable implant model include type of ailment , level of activity of the patient , and the quality of bone .
A wide variety of artificial hip replacement implants are currently available . There exists little differentiation in the various products on offer . Most models are technologically superior . Zimmer is the leading manufacturer of implants in the global market . Zimmer Kinectiv Technology enables a more accurate fit of the implant to the hip joint .
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