Abstract
Intense Competition Keeps Developers of Medical Device Technology for
Orthopaedic Applications on their Toes
When competing in a mature market with a wide range of treatment options for
different orthopaedic disorders, medical device companies have to provide more
technology developments to stay afloat. Market participants not only pit
technologies against each other, but also try to gain a lead over other
companies on factors such as costs and reimbursements. In the orthopaedic
medical device industry, developers are focusing on designing orthopaedic
devices that stand out in the crowd with their inventiveness, cost, stability,
and functionality advantages.
This Technical Insights study provides an overview of the advances made in
medical device technologies for orthopaedic applications. The technologies
covered include total joint replacement (hip and knee), minimally invasive
techniques, degenerative disc disease, vertebral compression fractures, as
well as biomaterials and their applications. This research service enables
companies to align their positioning strategies to benefit from these
technologies.
Specialized Instruments Required for Varied Demographics
Technology developers have been factoring in the greater life expectancy of
their end-user population and are modeling orthopaedic instruments to suit the
different needs of people in their 80s and 90s. Since the current elderly
population prefers a more active lifestyle, orthopaedic technologies have to
be simpler and more comfortable. Moreover, end-user impatience to resume
normal activities is driving companies to accelerate their product innovation
activities and provide technologies that hasten their recovery.
With 77 million baby boomers entering their 60s and 70s, orthopaedic
technology companies are expected to start developing inventive technologies,
especially since this demographic is comfortable in using technology.
Similarly, with bone-related issues on the rise among the younger population,
developers have to provide long-lasting instruments. The issue of age
demographics is likely to affect the technologies' prospects in joint market,
spinal research, sports medicine, and trauma care.
Technologies that Offer Greater Clinical Benefits and Ease-of-use Expected to
Succeed
Current users of orthopaedic technologies seek products that offer them
maximum comfort while requiring minimum physical supervision. "The advantages
of techniques such as minimally invasive surgeries include lesser pain and
trauma, quicker return to daily activities and work, smaller scar, as well as
lesser blood loss," says the analyst of this research. "Economic benefits in
addition to clinical ones drive the orthopaedic industry."
People are also beginning to be more aware of their medical conditions and are
constantly seeking to gain more knowledge about their illnesses. "This drives
the industry to continuously evolve products and devices that use a radically
different approach or make significant improvements to existing technologies,"
notes the analyst. "The Internet is a platform for companies to showcase these
technologies as well as their uniqueness and benefits, thereby enhancing the
awareness of these instruments."
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