- Language: English
- Published: October 2005
- Region: United States
Orthopedic Implant Market - Living in a Material World
- Published: April 2007
- Region: Global
- 37 Pages
- Frost & Sullivan
The research service titled Orthopedic Implant Markets: Living in a Material World provides an overview of the biomaterials used in orthopedic applications, market share analysis, and revenues of the biomaterials market, along with a complete analysis of key market drivers, restraints, and trends that are impacting this industry. In this research, Frost & Sullivan's expert analysts thoroughly examine the applications and technologies in the biomaterials market for medical implants.
Expert analysts thoroughly examine the following market sectors in this research:
-Metallic Implants - Titanium, Cobalt-chrome, Stainless steel
-Polymeric Implants - UHMWE, PEEK
-Ceramic Implants - Alumina, Zirconia
-Joint Replacement - Hip Joints, Knee Joints, Spinal Joints and Others
Minimally Invasive Techniques Drive the Growth of the Implants Market, Heightening Demand for Materials
Given the continuous advances in technology, the major focus of implant manufacturers has been on developing implants that reduces the effect of invasiveness. Keeping with this trend, many companies have introduced unicompartmental knees and partial hip implants that need a smaller incision than before. As these procedures reduce patient trauma and enable them to get back to their active life sooner, more and more patients are willing to get implanted. As a result, it can be said that the new minimally invasive techniques are providing for the stronger growth of the U.S orthopedic implants market, and thereby, the materials market.
Nevertheless, the industry has experienced a rise in the cost of raw materials in the last five years, particularly that of titanium. Moreover, the titanium industry is being constrained by the extremely strong demand and tightness in the supply of raw materials needed to produce titanium mill products. By the end of 2008, demand for titanium mill products is expected to increase two-fold over those recorded in 2002. "The driving force behind this increased demand is predominately commercial aerospace, coupled with growth in other key markets such as medical, industrial, and recreation," notes the analyst of this research service. "This is likely to lead to lower supplies to the orthopedic industry due to the increased prices."
New Implantable Grades of Stainless Steel likely to Boost Revenue Growth for Material Suppliers
With the introduction of nickel-free grade stainless steel, surgeons are expected to increasingly opt for stainless steel implants, as they are more cost efficient for the patients. In addition to higher volumes, this is also likely to lead to considerable revenue growth for suppliers, as they are anticipated to charge a premium for this material since they are unlikely to be commodity products. Nickel-free grade stainless steel apart, cobalt and titanium alloys are also likely to find greater acceptance due to the growth of the uncommon joint replacement market. Cobalt alloy and titanium are the materials of choice for joint replacements such as shoulder, elbow, wrist, digit, and ankle.
"Going forward, biomaterials are likely to be the next big factor of competitiveness for implant manufacturers to differentiate themselves in the market," says the analyst. "Tie-ups between manufacturers and raw material suppliers are expected to be a major factor determining access to the growing demand for some of the biomaterials such as titanium." SHOW LESS READ MORE >
---2. Materials Used in Orthopedic Implants
---3. Biomaterial Applications
-2. Market Measurements
--1. Market Engineering Measurements and Applications
---1. Market Engineering Measurements
-3. Market Dynamics
--1. Market Dynamics
---1. Market Drivers and Challenges
---2. Market Strategies
--2. Competitive Analysis
---1. Market Share Analysis
--3. SWOT Analysis
---1. SWOT Chart