With a rapidly changing economic environment, the European market for large joint orthopedic devices is in a state of constant change, according to a report from Research and Markets.
Here's what you should know.
1. There is no room for price increases in the market without the introduction of new technology. Research and Markets said large joint orthopedic is in the middle of an innovation draught.
2. In the hip replacement market, the field is pivoting towards hybrid and cementless devices and ceramic on HCPE and ceramic-on-ceramic bearing hip replacements.
3. A cementless component, known as the press-fit carries a higher price tag than the cemented one. These components often contain porous metals which improve implant lifespan by increasing fiction.
In a similar fashion, ceramic is more expensive than metal and its continued use will drive market prices.
4. The shifts in technology will buoy implant pricing, which is under government pressure to decrease.
5. Europe is also in the middle of seeing a growing market share for younger patients undergoing total joint replacement surgery. The two trends contributing to that are in the growth of physical activity and in a growing obesity rate.
Both of these trends are driving the revision rate, because many total joint patients will outlive their primary implant.
More news related to orthopedic and spinal devices:
TranS1 named ‘Most Innovative Workplace’: 4 takeaways
Globus Medical stock down 13.7% over last 4 weeks — 5 quick points
Global orthopedic devices market to hit $47.5B by 2020: 3 takeaways