Extremity Replacement Gaining on Hips & Knees (Biloine Young @ OTW)
Move over hips and knees—the extremities are coming. A report by Visiongain, a London-based business information firm, predicts that the global extremity devices market will be worth $2 billion by 2016, according to the report “World Market for Orthopaedic Extremity Devices 2012-2022,” published in April 2012.
The orthopedics sector of medical devices market has been driven, in recent years, by the artificial joint replacement and orthobiologics segments. Now, according to Visiongain, the fastest growing segment within the artificial joint replacement market is the extremity implants market. “The replacement of extremity joints of the shoulder, ankle, elbow, wrist and digits is witnessing growth,” the new report says.
The report noted, “Technological advancements in the field of extremity implants have seen innovations such as reverse shoulders and mobile bearing ankles that help repair the joint condition and improve mobility for patients. Device manufacturers are also developing new implant materials that have better safety profile. This trend in technological advancements will continue during the forecast period and will also be a key factor that will sustain growth of the extremity devices market.”
Rupali Vadhera, a healthcare industry analyst, said in the April 25 press release: “A worldwide aging population is triggering a rise in the incidence of age related disorders such as arthritis and osteoporosis. The increase in these conditions is being further compounded by the escalating levels of worldwide obesity (owing to the extra pressure placed on hips, ankle and knee joints) amongst the population which has now reached epidemic proportions. In addition, an increase in demand for surgical procedures that offer improved comfort and active lifestyle will further drive growth of this market.”