by The global medical implants market is witnessing robust growth, primarily attributed to the increasing preference for minimally invasive implant procedures. This surge is fueled by advancements in medical science and technology, resulting in less post-procedure trauma and quicker patient recovery times.
Minimally invasive procedures have gained popularity for a wide range of ailments, including fractures, degenerative spinal diseases, tumors, spondylosis, herniated discs with CES (Cauda Equina Syndrome), and cord compression. These procedures are known for their lower risk, reduced trauma, and lower complication and mortality rates compared to open surgeries. According to Clinical Orthopaedics and Related Research, the risk of Surgical-Site Infections (SSIs) is approximately 5.7 times higher in open surgeries than in minimally invasive procedures. Patients also benefit from less pain, reduced blood loss, and shorter post-surgical recovery times, further boosting the demand for minimally invasive procedures.
Orthopaedic implants, in particular, are experiencing increased adoption globally due to the rising prevalence of arthritis and osteoarthritis, driven by a growing geriatric population. Musculoskeletal conditions and orthopaedic injuries contribute significantly to severe pain and limited mobility, impacting the quality of life for individuals. According to the World Health Organization (WHO), around 1.7 billion people worldwide suffer from musculoskeletal conditions, making them one of the leading causes of years lived with disability (YLDs) globally, with over 145 million cases. This growing need for orthopaedic implants is a key factor contributing to the growth of the medical implants market.
North America is poised to lead the global medical implants market, driven by the increasing incidence of ailments such as arthritis and a rising number of orthopaedic procedures. The region benefits from advanced medical care facilities, robust infrastructure, and established medical insurance policies, which encourage the adoption of medical implants and related procedures. Furthermore, the increasing demand for cosmetic dental procedures is contributing to market growth, with a significant portion of the aging population in the United States suffering from complete tooth loss and dental caries. To capitalize on these opportunities, companies are investing in the region, expanding their commercial operations and product portfolios.
The competitive landscape of the medical implants market is characterized by key players focusing on the development and launch of innovative products to strengthen their market position. Recent examples include 4WEB Medicals introduction of the Hyperlordotic Lateral Spine Truss System (LSTS) and SurGenTecs FDA clearance for the ION Screw, a minimally invasive fixation implant for spine treatments.
Notable players in the medical implants market include Smith & Nephew PLC, Boston Scientific, Zimmer Biomet, Dentsply Sirona, CONMED Corporation, Stryker Corporation, Straumann AG, Medtronic, and Integra LifeSciences Corporation.
Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa) https://www.fairfieldmarketresearch.com/report/medical-implants-market
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This press release first seen on Brilad
COMTEX_442085757/2840/2023-10-18T16:49:25
Julian Lopez is professor emeritus of finance, served as the founding academic affairs dean and founding chair of the finance department.
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