PMR Projects a Healthy Growth Outlook for Small Joint Replacement Market
Persistence Market Research recently published a new study on the global small joint replacement landscape, according to which the favorable reimbursement scenario continues to play a pivotal role in propelling the adoption of small joint replacement therapies.
According to the PMR report, the global revenue of small joint replacement market is likely to approach the valuation of US$ 455 million in 2019, at the projected year on year growth of over 6%. Leading companies operating in the global competitive landscape of small joint replacement market are currently focusing on product innovation, strategic collaborations, and geographical market expansion, says the report.
“Small joint replacement therapies come with a set of risks, including loosening of implants, wearing or fracturing over the time, stiffness of joints in the vicinity of operated area, possible internal infection, implant failure leading to severe pain, artificial joint dislocation, and blood vessel or nerve damage. However, reduced hospital stay and faster recovery post the minimally invasive surgical procedure involved in small joint replacement therapies will continue to compel patients to opt for small joint replacement surgeries, boosting the global market growth at a promising pace,” explains a senior research analyst at the company.
Unlike conventional orthopedic surgeries that involve a high infection risk and lengthy recovery time, small join replacement is minimally invasive and thus allows relatively faster recovery and a negligible risk of acquiring infections. Moreover, as small joint replacement is conducted through a small incision, the procedure is relatively cost effective.
Functional Advantages Boost Adoption of Small Joint Replacement
As indicated by the report, this growth is predominantly supported by the growing sophistication of healthcare sector, augmenting investments in healthcare, pharma, and medicine, increasing affordability of surgical procedures, and the considerably improving reimbursement scenario.
Technologically advanced small joint implants are tested and reliable, and are designed to last for a long period of time. Materials used in the manufacturing of small joint implants are consistently witnessing innovation to deliver an improved performance.
The report states that the highly sought after advantages of small joint replacement therapies over conventional orthopedic surgical procedures will continue to be the strongest driving force for growing adoption worldwide.
3D Printed Implants to Accelerate Small Joint Replacement Adoption
Surpassing the innovation of small joint artificial implants made from an extensive range of biomaterials, manufacturers are rapidly shifting to creating personalized small joint replacement implants through the incorporation of 3D printing technology.
While 3D printing has been a breakthrough innovation for the orthopedic implants sector, increasing adoption of 3D printed implants is signifying their potential applicability in orthopedics. Patient-specific 3D printed small joint replacement implants is projected to mark the future of small joint replacement therapies landscape, projects research.