Innovations in Orthopedic Devices to Transform Industry (Frost & Sullivan)
The orthopedic devices industry will continue to be a promising area in the global medical technology space, and is expected to rank third in sales after cardiology and in-vitro diagnostics by 2020. According to Frost & Sullivan, the industry generated revenue of $39.40 billion in 2016; revenue is expected grow at a compound annual growth rate (CAGR) of 3.3% to reach $44.82 billion in 2020. The emergence of advanced technologies and the rise in orthopedic disorders will drive industry growth. Six of the latest innovations in the industry are discussed below.
1) Robotic Surgeries Involve Fewer and Smaller Incisions, Reducing Postoperative Care
Orthopedic surgeries that incorporate robotics are less invasive and offer reproducible precision, resulting in shorter hospital stays and faster recovery times. A clinic in Switzerland, La Source, reported a decrease in average hospitalization from 10 to 6 days by using surgical robots. However, this technology is still expensive to acquire, and strong, evidence-based studies are needed to demonstrate that robotic technology leads to better outcomes.
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