Hrishikesh Kadam, Senior Research Content Developer at Global Market Insights Inc.06.02.21
Plenty of big changes, new developments, and breakthroughs lie ahead for the joint reconstruction devices industry in 2021 and beyond. A considerable rise in the number of specialty care centers providing specialty procedures may be observed in the near future.
Today, these procedures are becoming increasingly common as with the demand for knees and hips replacement among older individuals. Also, there has been a notable increase in the awareness regarding these surgeries, both among patients and doctors.
Projections based on a research analysis by Global Market Insights Inc. show that the global joint reconstruction device market could be worth over $25.3 billion by 2027. Explanations of some of the major upcoming trends in the industry and the impact of advanced technologies on the industry are expounded.
Are Robot-Assisted Surgery and 3D Printing the Future of Joint Reconstruction Procedures?
3D printing is a key technology which has constantly found new use cases in healthcare. In joint replacement, the technology is being used in planning the operation and for designing patient-specific implants. It allows surgeons to place an implant that fits the hip or knee more exactly, meaning less bone has to be cut off for the implant to fit. This is particularly crucial for younger patients as they may require revision surgery in the future, so preserving as much bone as possible is critical.
Another novel and innovative development in the field in recent years includes the concept of scanning soldiers’ bodies in the event of an accident or injury. The U.S. military has been working with experts at the University of Nevada on the idea of a virtual twin for each soldier entering the battlefield, so that a new joint could be instantly 3D printed in case of injury.
Robot-assisted surgery is fast emerging as an innovative method for joint reconstruction which is not only accurate, but safe and reliable as well. The technology provides surgeons with preoperative imaging, allowing them to create a 3D virtual model of the patient’s joint. This enables surgeons to determine the optimal size, placement, and alignment of the implant.
Consistent Advancements in Healthcare Strengthen Knee Reconstruction Device Adoption
Knee replacement is among the most successful and widely performed surgeries worldwide, which if done right, could provide lots of benefits including pain relief and functional recovery. The procedure has become more and more cost-effective in recent years.
With an aging population, an increasing number of individuals are undergoing knee replacement surgery globally. In the U.S. alone, more than 600,000 knee replacements are performed every year. The number is estimated to hit 1.28 million by 2030, according to the American Academy of Orthopedic Surgeons.
According to Global Market Insights Inc., the joint reconstruction devices market share generated nearly $7.8 billion revenue from knee replacements during 2020. The rise in occurrence of bone related disorders such as osteoarthritis, particularly among the elderly, should drive the demand for knee reconstruction surgeries in the future.
Medical device company Conformis had recently affirmed its Identity Imprint knee replacement system received FDA approval for being marketed to the consumer. The system was developed using innovative technology and data from a large number of personalized implant designs. Ideal for supporting demand from ambulatory surgical centers, the product will help provide a patient and procedure-specific device in just three weeks, quicker than many other alternatives.
The demand for knee reconstruction is continuously rising and professionals executing joint reconstruction procedures globally are witnessing tremendous opportunities. In May 2021, for example, Colorado based Adventist Hospital added Zimmer Biomet’s Rosa Knee robot for joint replacements. The robot could help achieve greater accuracy during procedures, allowing surgeons to make precise adjustments and get the best placements. In the past couple of months, the Rosa Knee technology has been adopted by numerous hospitals in Illinois and New York.
It is important to note that as people become aware about the new technologies available to make procedures more accurate, efficient, and less invasive, the preference for joint reconstruction procedures and devices will expand.
During May 2021, the Elite Surgical Center based in Wayne, Ill. started offering partial knee replacement procedures using Stryker Corporation’s Mako Robotic Arm. The technology enables surgeons to personalize procedures and allows for same day outpatient surgery with improved accuracy, faster recovery, and less pain and complications.
The coming years could see more and more robots entering the operating room as healthcare providers strive for greater accuracy, higher safety, and improved patient care.
What Does the Increasing Number of Hip Replacements Mean for the Joint Reconstruction Device Market?
Did you know that more than 450,000 hip replacements are performed in the U.S. each year? Osteoarthritis is among the most common causes for hip replacement, a treatment for pain and disability in the hip. As the need for hip reconstruction increases, new technologies and procedures are constantly emerging, allowing for accurate, safe, reliable, and more efficient implantation.
Citing a recent instance, in May this year, United Lincolnshire Hospitals’ (ULH) Grantham and District Hospital became the first ever to perform a keyhole hip replacement surgery, which uses specifically designed equipment and pioneering techniques. It includes much smaller incisions without tearing any muscles and eliminates the need for precautions that are required after conventional hip replacement procedures.
Currently, hip replacements account for a substantial share of the joint reconstruction devices market and the demand will only surge in the next few years.
Across the world, respective governments are undertaking new initiatives to improve the quality of joint replacement procedures. The Biden administration in the U.S. announced plans to extend a bundled payment model through 2024 in a bid to lower costs and improve quality for knee and hip replacements. The Comprehensive Care for Joint Replacement model is designed to pay providers depending upon the total episodes of knee and hip reconstruction to improve quality and curb costs.
Minimally-invasive procedures allow patients to get back to their daily activities quicker and reduces all restrictions associated with traditional joint replacement. It also results in a much shorter hospital stay and reduced pain for patients. This could allow providers to perform same-day procedures and see more patients. Modern joint reconstruction devices, with the help of key technologies enabling less invasive surgeries, will meet the demand for a normal life for both, geriatric population as well as younger patients.
Today, these procedures are becoming increasingly common as with the demand for knees and hips replacement among older individuals. Also, there has been a notable increase in the awareness regarding these surgeries, both among patients and doctors.
Projections based on a research analysis by Global Market Insights Inc. show that the global joint reconstruction device market could be worth over $25.3 billion by 2027. Explanations of some of the major upcoming trends in the industry and the impact of advanced technologies on the industry are expounded.
Are Robot-Assisted Surgery and 3D Printing the Future of Joint Reconstruction Procedures?
3D printing is a key technology which has constantly found new use cases in healthcare. In joint replacement, the technology is being used in planning the operation and for designing patient-specific implants. It allows surgeons to place an implant that fits the hip or knee more exactly, meaning less bone has to be cut off for the implant to fit. This is particularly crucial for younger patients as they may require revision surgery in the future, so preserving as much bone as possible is critical.
Another novel and innovative development in the field in recent years includes the concept of scanning soldiers’ bodies in the event of an accident or injury. The U.S. military has been working with experts at the University of Nevada on the idea of a virtual twin for each soldier entering the battlefield, so that a new joint could be instantly 3D printed in case of injury.
Robot-assisted surgery is fast emerging as an innovative method for joint reconstruction which is not only accurate, but safe and reliable as well. The technology provides surgeons with preoperative imaging, allowing them to create a 3D virtual model of the patient’s joint. This enables surgeons to determine the optimal size, placement, and alignment of the implant.
Consistent Advancements in Healthcare Strengthen Knee Reconstruction Device Adoption
Knee replacement is among the most successful and widely performed surgeries worldwide, which if done right, could provide lots of benefits including pain relief and functional recovery. The procedure has become more and more cost-effective in recent years.
With an aging population, an increasing number of individuals are undergoing knee replacement surgery globally. In the U.S. alone, more than 600,000 knee replacements are performed every year. The number is estimated to hit 1.28 million by 2030, according to the American Academy of Orthopedic Surgeons.
According to Global Market Insights Inc., the joint reconstruction devices market share generated nearly $7.8 billion revenue from knee replacements during 2020. The rise in occurrence of bone related disorders such as osteoarthritis, particularly among the elderly, should drive the demand for knee reconstruction surgeries in the future.
Medical device company Conformis had recently affirmed its Identity Imprint knee replacement system received FDA approval for being marketed to the consumer. The system was developed using innovative technology and data from a large number of personalized implant designs. Ideal for supporting demand from ambulatory surgical centers, the product will help provide a patient and procedure-specific device in just three weeks, quicker than many other alternatives.
The demand for knee reconstruction is continuously rising and professionals executing joint reconstruction procedures globally are witnessing tremendous opportunities. In May 2021, for example, Colorado based Adventist Hospital added Zimmer Biomet’s Rosa Knee robot for joint replacements. The robot could help achieve greater accuracy during procedures, allowing surgeons to make precise adjustments and get the best placements. In the past couple of months, the Rosa Knee technology has been adopted by numerous hospitals in Illinois and New York.
It is important to note that as people become aware about the new technologies available to make procedures more accurate, efficient, and less invasive, the preference for joint reconstruction procedures and devices will expand.
During May 2021, the Elite Surgical Center based in Wayne, Ill. started offering partial knee replacement procedures using Stryker Corporation’s Mako Robotic Arm. The technology enables surgeons to personalize procedures and allows for same day outpatient surgery with improved accuracy, faster recovery, and less pain and complications.
The coming years could see more and more robots entering the operating room as healthcare providers strive for greater accuracy, higher safety, and improved patient care.
What Does the Increasing Number of Hip Replacements Mean for the Joint Reconstruction Device Market?
Did you know that more than 450,000 hip replacements are performed in the U.S. each year? Osteoarthritis is among the most common causes for hip replacement, a treatment for pain and disability in the hip. As the need for hip reconstruction increases, new technologies and procedures are constantly emerging, allowing for accurate, safe, reliable, and more efficient implantation.
Citing a recent instance, in May this year, United Lincolnshire Hospitals’ (ULH) Grantham and District Hospital became the first ever to perform a keyhole hip replacement surgery, which uses specifically designed equipment and pioneering techniques. It includes much smaller incisions without tearing any muscles and eliminates the need for precautions that are required after conventional hip replacement procedures.
Currently, hip replacements account for a substantial share of the joint reconstruction devices market and the demand will only surge in the next few years.
Across the world, respective governments are undertaking new initiatives to improve the quality of joint replacement procedures. The Biden administration in the U.S. announced plans to extend a bundled payment model through 2024 in a bid to lower costs and improve quality for knee and hip replacements. The Comprehensive Care for Joint Replacement model is designed to pay providers depending upon the total episodes of knee and hip reconstruction to improve quality and curb costs.
Minimally-invasive procedures allow patients to get back to their daily activities quicker and reduces all restrictions associated with traditional joint replacement. It also results in a much shorter hospital stay and reduced pain for patients. This could allow providers to perform same-day procedures and see more patients. Modern joint reconstruction devices, with the help of key technologies enabling less invasive surgeries, will meet the demand for a normal life for both, geriatric population as well as younger patients.