Artificial Implants: A Global Strategic Business Report
San Jose, California (PRWEB) July 11, 2012
Follow us on LinkedIn – Aging population the world over has been a major contributor to the unprecedented growth in the artificial implants market. An increase in the general lifespan along with improved living conditions in emerging markets has expanded the demand for enhanced and longer lasting implants. Technological developments are growing on par with increasing demand for such products. These new innovative products are expected to address certain shortcomings of the existing products and deliver improved performance. In the orthopedic implants space, companies across the world are focusing on the development of advanced materials and technologies to address the emerging requirements of aging population and active youth.
Advanced fixation systems incorporating novel materials and innovative device designs, and biomaterials, constitute some of the focus areas for researchers worldwide. Smart implants are another potential area of growth for the orthopedic industry. Another area of research is advanced material coatings that are capable of fighting infections. On one side, rising prevalence of conditions such as osteoarthritis is expected to boost procedural growth in volumes, while increasing efforts across the regions to curtail spending on healthcare is expected to challenge growth in the joint implant market. With the recent evolution of cost-conscious governments, manufacturers are confronted with intensifying restrictions in terms of product prices.
In the cardiac implants market, presently, the large patient base with aging devices throws up attractive opportunities for replacements and products that have longer life span. ICD devices require replacements due to limited battery life and the tendency of the device to become obsolete over a period of time. New generation ICDs are manufactured with non-magnetic materials, such as, titanium, and now come with the option of being allowed to be temporarily re-programmed for a fixed heart rate. Further, the electrical activity of the device can also be turned off, during the scan period. In the cardiac rhythm management space, manufacturers are focusing on the development of “smart” next generation cardiac implants such as digital pacemakers. The advent of compact, miniature models of cardiac pacemakers have opened up additional opportunities for manufacturers. Despite their compact size, the pacemaker devices offer features and battery life that is on par with regular devices. Though highly priced, these miniature devices significantly reduce the risk associated with secondary complications and ensure higher patient comfort. Such technological developments offer growth opportunities in a market characterized by saturating market conditions.
In the cochlear implants segment, growth will be achieved through an overall rise in penetration rates. Over the years, world cochlear implants market has transitioned from a research-oriented realm to one of commercial viability. Market expansion would be fueled mostly by growing number of implant centers driven by popularity of neo-natal hearing screening programs and hospitals’ drive to offer complete range of services. Further, technological advancements in digital technology and new products such as truly open fittings and new wireless connectivity features are expected to drive sales.
The United States represents the largest market worldwide, as stated by the new market research report on Artificial Implants. However, with dollar sales projected to wax at a CAGR of 10% over the analysis period, Asia-Pacific represents the fastest growing regional market for artificial implants in the world. Over the last decade, developing nations have gained substantial affluence and economic stabilization. The BRIC nations have been at the forefront of robust economic growth and gained further clout during the economic recession, when India and China achieved more than 6.0% GDP growth despite the global turmoil. Rise in per capita income has made healthcare affordable for a considerable proportion of the population in these nations. However, a vast majority still cannot afford the expenditures incurred in surgeries. Increased governmental spending on healthcare, rising awareness about diseases, the availability of advanced medicare facilities locally and the presence of a large elderly population are all likely to foster significant growth in the artificial implants market in the developing countries.
Currently, market for certain types of implants has begun to see signs of pressure, particularly in Europe. Growth in demand for certain implant products, such as spinal implants has taken a hit as cost-consciousness among consumers increased in the region against the backdrop of difficult economic conditions. The effect of these measures has been more pronounced in some markets and lesser in the others. Further deepening of the crisis could entrench austerity measures even in the healthcare sector as well. The bone graft substitute and dental implant markets also face significant challenges due to the economic difficulties choking the region. A major effect of this change in the market environment is substantial penetration of low cost implant products. This led to the onslaught of various lower priced manufacturers on several European markets, with products either produced by regional players or imported from markets such as Israel, Korea, and Brazil, even as Governments’ budgets continue to be under significant pressure.
Major players profiled in the report include Abiomed, Advanced Bionics Corporation, Aesculap Implant Systems, Biomet, Boston Scientific Corporation, Cochlear Limited, DSM Biomedical, Dentsply International, DePuy Spine, Med-EL Medical Electronics, Medtronic, Nobel Biocare AB, RTI Biologics, Spinal Kinetics, Straumann AG, Stryker Corporation, Synthes Holding AG, Terumo Corporation, and Zimmer Dental, Inc.
The research report titled "Artificial Implants: A Global Strategic Business Report" announced by Global Industry Analysts, Inc., provides a comprehensive review of trends, issues, strategic industry activities, and profiles of major companies worldwide. The report provides market estimates and projections (US$ Million) for global and regional markets including the US, Canada, Japan, Europe, Asia-Pacific, Latin America and Rest of World. Key product segments analyzed include Orthopedic Implants (Spinal Implants, Hip Implants, Knee Implants, and Extremities Implants), Dental Implants, Cardiac Implants, and Cochlear Implants.
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