Abstract
Increased Adoption of Orthopaedic Implants among Varying Age Groups Boosts
Sales
The changing age structure within the total hip and knee replacement market
is expected to alter sales patterns. With almost one out of eight elderly
European citizens suffering from age-related problems such as osteoarthritis and
rheumatoid arthritis, the uptake of orthopaedic prosthetic implants is likely to
increase. Recent years have also witnessed a surge in the acceptance of these
devices among the younger generation. Larger numbers of youngsters are opting
for a total replacement procedure as they recognise its capability to improve
the quality of their lives both in athletic and daily activities.
This research from Frost & Sullivan evaluates the current and future
prospects of the European total hip and knee replacement market in two main
segments: total primary and revision hip replacements, and total primary and
revision knee replacements. It analyses the market in terms of revenue, both by
geographic region and by product segment. It also reviews the principal drivers
and restraints, thereby assisting companies in formulating sales strategies.
Additionally, it examines the major technological advances that are predicted to
have an impact on the market.
Industry-Academia Relationship Encourages Uptake of Innovative
Technologies
Technological advances in biological applications, such as bone graft
substitutes and replacements, and new implant and instrumentation designs have
helped popularise reconstructive implants. In addition, minimally invasive
procedures reduce the need for hospitalisation, lower procedural costs and
shorten the rehabilitation process. Understanding the importance of technology
in expanding markets, the industry has allocated funds to disseminate
intellectual property from an academic setting to the marketplace.
"An agreement between the industry and the academia would be mutually
beneficial," says the analyst. "While companies are likely to benefit
from the marketable ideas derived through industry research, universities and
teaching hospitals would receive much-needed financial support." With
technology transfer proving to be increasingly successful, many companies are
striving to achieve a competitive edge and develop cost-efficient products,
either by buying the technology or by entering into license agreements.
Changing Demands Spur Growth in Specific Segments and Expand Overall
Market
Certain market sub segments have exhibited higher growth rates compared to
the market for primary joint replacements. For instance, the increased adoption
of revision total joint replacement is likely to positively impact the market.
Primary joint replacements can lose their bone fixation capabilities, experience
excessive wear, and become painful after years of use. Revision procedures
however, are likely to minimise such possibilities. Moreover, due to their
greater complexity and lower frequency of use, revision procedures are expected
to be able to command higher prices.
"The revision implant product category has experienced an annual growth
of approximately 12 to 15 per cent during the past several years," points
out the analyst. "This is almost double the growth rate for primary
implants over the same period." The growing demand for minimally invasive
joint replacement surgery is likely to lead to the emergence of implants that
are specifically designed for this use.
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