The latest market intelligence study by Infiniti Research on the orthopedics devices market offers comprehensive insights on the product portfolio analysis, key competitors, and track the recent developments in the medical devices sector.
Demand trends in the orthopedics devices market
The raising requirement for personalized and better patient care is encouraging medical device manufacturers to launch advanced products to meet the growing demand. The increasing incidences of orthopedic related and work-related musculoskeletal disorders, greater demand for healthcare services, increasing geriatric population, technological advancements, and new product development will change the market landscape in the healthcare industry. The fast-paced growth and introduction of new drugs and therapeutics are creating a positive impact on the demand for these devices in the market. The stringent FDA regulations, the high cost of sophisticated manufacturing equipment, and biocompatibility issues are the topmost challenges manufacturers have to overcome or comply with to remain competitive in the market.
With strong understanding of the healthcare industry, the market intelligence team at Infiniti provides strategic insights for healthcare companies in terms of market analysis and competitive landscape. Their recent study on orthopedics devices highlights medical tourism as the key emerging trend in the market. Cities like Chennai, Kuala Lumpur, Bangkok, and Sao Paolo are considered as the “health cities” and have the highest concentration of medical tourists. The demand for specialized procedures like bariatric surgeries, breast augmentations, orthopedic procedures, dermabrasion, and angioplasty surgeries is driving the growth of this industry. Medical tourism offers diversified services at an affordable cost to patients who cannot afford these services in their home countries.
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3D printing in orthopedic surgeries
The increasing emphasis on minimally invasive procedures and technological advancement is boosting the demand for robotics and 3D printing in the healthcare industry. 3D printing is used in orthopedic surgeries for manufacturing of prototype, custom and low volume solutions, and patient specific implants that reduce the stay duration of the patients in hospitals. The next-generation technologies help in supporting product innovation and process improvement activities such as fixation and bone cutting.
Sustainable practices and regulations
The increasing focus on improving internal efficiency, production techniques, and utilizing technological advances will help manufacturers to abide by the stringent regulations set by the government. The vendors are using sustainable materials to reduce the cost of implants, instrumentation, and delivery systems. The introduction of innovative materials and biodegradable implants will drive the medical devices market and promote the use of eco-friendly products.
Solutions and recommendations
The market intelligence team at Infiniti Research provides competitive analysis to identify and analyze product portfolios, key competitors, and track the recent developments in the market. Some of the solutions offered are listed below:
- Develop effective marketing strategies around the target segments and the potential respondents
- Provide overview of the market size and new potentials and design an effective growth strategy to take necessary actions
- Identify regulatory timelines, leading competitors and their products and technologies employed
- Analyze the competitive landscape and benchmarking, assess customer needs and satisfaction levels, and assess and enter new markets
- Offer market landscape overview for orthopedic devices including current sales trends, growth drivers, market dynamics, and key challenges and opportunities
Read our comprehensive case study that analyzes the orthopedics devices market through a market intelligence study
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