Dynamic Growth Strategies Redefining the Orthopedics Industry
Transformational growth driven by digital solutions is shaping the future of orthopedics
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The global orthopedic implant market is in the midst of a transformation. With enhanced research, product development is improving to suit patient requirements and support more successful surgical outcomes. Unlike devices that remain outside the body in ambient conditions where they can be observed, manipulated, and controlled, most orthopedic and spine devices are implanted during a surgical procedure and then left to perform their intended function within the body. Hence, the implants need to meet strict requirements for the product’s expected lifetime to be much longer than the average medical device.
The growth potential for orthopedic implants is more in emerging markets than in mature ones. Orthopedic and spine procedures need to be specifically tailored to each patient, and the implants must accommodate an incredible range of anatomy and surgical scenarios. Well-informed patients are demanding surgeons for personalized therapies, implants, procedures, and experience. The shift toward payments based on quality plus cost over procedure-based reimbursement is expected to change the way medical technologies are evaluated and purchased.
This study provides revenue forecasts, market share analyses, competitive environment assessments, and market segment analyses for the global market. It also covers the changing landscape and the importance of understanding the business models to succeed in the digitally transforming market. The focus is shifting to technologies that involve lesser hospital time for patients and lead to quicker recoveries.
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