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Overview of Orthopedic Joint Replacement Market in India
Frost & Sullivan, April 2011, Pages: 102
This research service presents an analysis of the joint replacements market in India. It quantifies the market size, provides growth forecasts of the knee and hip joint replacements market from 2008 to 2017. This research service provides in-depth analysis of industry challenges, market drivers and market restraints, and how they impact the market dynamics during the forecast period. A market share analysis is also provided. Further insight is provided through a Porter's competitive 5 forces analysis. An end-user perspective of factors influencing selection of an implant, SWOT analysis of the industry, and a few recommendations based on the current market dynamics are also provided.
This Frost & Sullivan research service titled Overview of Orthopedic Joint Replacement Market in India analyses the market challenges, drivers and restraints and how they affect the market dynamics during the forecast period. The study also includes an end-user perspective of the factors influencing selection of an implant and a few recommendations based on the current market dynamics. In this research, Frost & Sullivan's expert analysts thoroughly examine the following markets: knee joint replacement (primary, revision and unicompartmental), shoulder and ankle joint replacement and hip joint replacement (primary, revision and partial/bipolar).
Market Overview
Indian Orthopedic Joint Replacement Market Gaining Ground with a Rise in Arthritis Population and Booming Economy
The Market is Expected to Grow at a Compound Annual Growth Rate of 26.7 per cent during 2010-2017
The joint replacement market in India is projected to grow impressively at about 25-30 per cent over the next five to seven years, owing to an increase in the aging population, sedentary lifestyle, booming economy, better healthcare infrastructure and the opening up of the insurance sector. With over 70,000 hip and knee replacements being performed every year, the growth rate of the orthopedic implants is estimated to be more than 25 per cent per annum for the next five to six years. “With a growing population of potential patients, rising awareness about the impact of joint problems, and the importance of surgical treatments, the market for orthopedic implants promises to be one of the most lucrative segments in the Indian medical device market,” observes the analyst of this research service. “The reduced price of implants could extend the products’ reach to various classes and sections of the population, thereby creating a wider customer base.”
However, not many people are willing to undergo surgery, mainly due to the risks involved - a prolonged recovery period and the fear of whether the surgery will be successful or not. Joint replacement surgery is believed to be associated with complications, including infections and the risk of implant failure. “Most patients prefer alternative treatment methods or other non-surgical procedures such as physiotherapy, exercises, or yoga,” observes the analyst. “Therefore, the penetration of joint replacement products in the market is limited.”
The awareness about joint replacement surgery is very low in India. Surveys conducted in urban areas reveal that only about 10 per cent of people are aware about detection and prevention of joint-related problems such as osteoporosis. It is therefore, imperative to raise awareness about arthritis in all its forms among the medical community, arthritic patients and the public. Conferences and meetings where both patients and healthy people are invited to spread awareness/knowledge regarding arthritis, its prevention and management could be an effective method to enhance awareness. It will ensure all people with arthritis and their caregivers are aware of the vast support network available to them.
Market Sectors
Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research:
- Knee joint replacement
- Shoulder and ankle joint replacement
- Hip joint replacement
- Technologies
The following technologies are covered in this research:
- Cemented
- Uncemented
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