Market Challenges And Opportunities

Global Orthopedic Extension Devices Market – Driver

Increasing cases of injuries and trauma that require surgical procedures to boost the growth of the orthopedic extension devices market

The rising cases of trauma and injuries are expected to drive demand for surgical procedures and boost the growth of the orthopedic extension devices market. According to an article published in April 2020, in PubMed- a free search engine for biological databases, every year, over 310 million major orthopedic procedures are performed worldwide; approximately 40 to 50 million in the U.S. and 20 million in Europe. It is expected that 1-4% of these patients may die, up to 15% will experience severe postoperative morbidity, and 5-15% will be readmitted within 30 days. With an annual worldwide mortality rate of roughly 8 million patients, major surgery is comparable with the leading causes of death, which include cardiovascular disease and stroke, cancer, and accident.

Increasing product launches in orthopedic extension devices market

The increasing launch of products to invent newer orthopedic extension devices can drive the growth of the global orthopedic extension devices market over the forecast period. For instance, on May 16, 2023, Morristown Medical Centre of Atlantic Health System, a non-profit health care network in New Jersey, U.S., announced that were going to offer Persona IQ- the world’s first and only smart knee implant for Total Knee Replacement Surgery.

Global Orthopedic Extension Devices Market: Restraints

Product Recalls

Product recalls caused by defective goods or manufacturing faults reduce the rate of acceptance of these devices by surgeons and patients, lowering manufacturers' revenues. Challenges with size fittings, composition or other negative impacts of the devices are can hamper the growth of the global orthopedic extension devices market. For instance, in July 2020, Zimmer Biomet, a publicly traded medical device company, recalled an unspecified number of polyethylene orthopedic implants in Europe due to the possible presence of elevated endotoxin levels. Strict compliance with good manufacturing practices and regulatiory guidelines can help reduce the frequency of manufactural defects in products.

High cost of medical implants

The high costs of orthopedic implants and devices is estimated to slow down the the growth of the global orthopedic extension devices market. For instance, according to an article published by The Asian Journal Of Pharmaceutical Sciences, the official journal of Asian Federation for Pharmaceutical Sciences, on May 15, 2023, beyond the warranty period, even a small repair in cochlear implants ranges between US$ 600 to US$ 1000. According to the American Association Of Hip And Knee Surgeons, the price for most primary hip and replacement parts generally range from US$ $3,000 - $10,000. Medical insurances, government initiatives and surgeries at tertiary medical centres can serve as an effective counterbalance for this restraint.

Global Orthopedic Extension Devices Market: Key Developments

On February 17, 2023, Curiteva, Inc., a spinal implant technology company based in the U.S, got U.S. FDA clearance for its Inspire 3D Porous PEEK Cervical Interbody System Technology. The implant technology exhibits good mechanical strength and helps to achieve a modulus of elasticity closely matching human cancellous bone.

On April 7, 2023, Ukraine’s civilian Emergency Medical Clinical Hospital collaborated with T&R Biofab, a U.S-based 3-D bioprinting specialist, to replicate special tissue microenvironments that would provided the ideal mileu for a skull implant that would be strong enough and that would enable the bone to grow back onto and into it.

On January 30, 2023, Additive Surgical, an Australia-based medical device manufacturer of 3D printed titanium, spine implant technology, launched a range of expandable interbody devices. The whole implant has a microporosity of 6-10 microns (surface texture) that creates a favorable environment for bony on-growth.

On January 27, 2023, Croom Medical, an outsourcing partner for the design and manufacture of orthopedic implants, introduced a 3D printed Sacroiliac Joint Fixation. The device provides biomechanical stability, support, and range of motions for patients suffering from SI joint dysfunction.

In December 2021, Health Canada- the official drug regulatory authority of Canada, authorized the use of 3D printed mandibular implant to enable surgeons and medical professionals to use the Specific mandibular plate, along with surgical cutting and drilling guides, to treat patients. The implant reduces operation time and patient recovery time.