LONDON, GREATER LONDON, UK, July 24, 2018 /EINPresswire.com/ — The Business Research Company's new report, Major Orthopedic Joint Replacement Implants Global Market Strategies and Opportunities to 2022, estimates that major orthopedic joint replacement implants market will grow at a compound annual growth rate (CAGR) of 3.8%.
This market growth is being achieved through the implementation of marketing strategies that focus on new product development, improving existing products, and increased investments in emerging countries.
The established companies in the market are continually investing in research and development. B. Braun Melsungen, for instance, has spent €262.4 million for research and development of new products. Zimmer Biomet invested 5% of its total sales in 2017 in R&D to develop innovative products. Generic companies are increasingly gaining traction through their product development strategies, by making copies of legacy implants with proven designs and biomaterials and further offering them at lower prices compared to branded implants, thereby posing a threat for major orthopedic device manufacturers such as Stryker, Johnson & Johnson, Zimmer, Smith & Nephew and Medtronic Spine. This has led to increased interest in launching new products at competitive prices. Johnson & Johnson has adopted a similar yet different strategy of offering premium products at premium prices. On the other hand, we have Stryker and Medtronic that offer different product portfolios at different pricing.
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A strategy being adopted by companies for product improvement involves the use of robotic technologies to increase efficiency and reduce the failure rate of knee surgery. Robots help in reducing the time required for surgical procedures and offer better results by eliminating the risks of complications. Companies such Stryker and Smith and Nephew believe that robots give them an edge in the major orthopedic replacement implants market. For instance, in 2017, Stryker Corporation launched the MAKO robot which is enabled to perform total knee replacement in the US. In 2016, Smith and Nephew launched its Navio surgical robot to perform knee replacement surgery in the US. The robot, which initially performed partial knee surgery, recently conducted its first full knee replacement surgery in New York and was given an approval by the US Food and Drug Administration (FDA).
The use of 3D printing technology in implants is another effort aimed at providing reliable and customized surgery for patients. 3D printing reduces the risk of a wrong fit by producing components used in the surgery through using the patient’s X-rays images or CT scans which.
Major orthopedic implant manufacturing companies are investing in emerging countries such as India, China and Brazil which constitute around 41% of the total world population. Smith & Nephew, for instance, is investing in established markets, accelerating development in emerging markets, simplifying and improving their operation model, and supplementing organic growth through acquisition.
TBRC’s primary interviews also reveal that marketing strategies aimed towards young and more active patients will be a driver of the major orthopedic joint replacement implants market. As part of their marketing strategies, companies may reach out to government hospitals, clinics, and private hospitals, and speak to surgeons to promote their products for good sales numbers. Zimmer Biomet, which was the largest competitor in the market in 2017, offers solutions that support orthopedic surgeons and clinicians in restoring mobility and treating arthritis and traumatic injuries.
Where To Learn More
Read the Major Orthopedic Implants Replacement Global Market Opportunities and Strategies to 2022 report from The Business Research Company for information on the following:
Markets Covered: Major orthopedic joint replacement implants market
Major Orthopedic Implants Replacement Market Companies Covered: Zimmer Biomet, Depuy Syntes, Stryker, Smith & Nephew, Aesculap, Exactech, DJO Global, Corin Orthopedics
Regions: North America, Asia Pacific, Western Europe, South America, Eastern Europe, Middle East, Africa.
Countries: USA, China, UK, Japan, France, Germany, Australia, India, Spain, Russia, Italy, Brazil
Time Series: Five years historic (2013-17) and forecast (2017-21).
Data Segmentations: Major orthopedic joint replacement implants market historic and forecast size and growth rates for the world, 7 regions and 12 countries, major orthopedic implants replacement market segmentation by type of joint (knee replacement implant, hip replacement implant), by facility (in-patient care, ambulatory care), by type of fixation(cementless, cemented, hybrid), by type of material (ceramics, metals, polymers), and by type of material combination (metal on polymer, ceramic on polymer, ceramic on ceramic, metal on metal, ceramic on metal) market shares, historic and forecast size and growth rates for the world, 7 regions and 12 countries, global competitor sales and market shares.
Other Data: Per capita average major orthopedic joint replacement implants market expenditure, global and by country, major orthopedic joint replacement implants market size as a percentage of GDP, global and by country; major orthopedic joint replacement implants market customer information, global number of major orthopedic joint replacement implants market enterprises for 2017, average major orthopedic joint replacement implants market revenue per enterprise for 2017, global number of employees in the major orthopedic joint replacement implants market for 2017, and average revenues per employee in the medical equipment industry for 2017- by country
Other Information: Drivers and restraints of the major orthopedic joint replacement implants market, PESTEL analysis, company profiles including products, strategy and financial performance for 5 major orthopedic joint replacement implants market companies, major orthopedic joint replacement implants market trends and strategies, major orthopedic joint replacement implants market key mergers and acquisitions.
Sourcing and Referencing: Data and analysis throughout the report are sourced using end notes. Sources include primary as well as extensive secondary research.
Number of figures in the report: 141
Number of tables in the report: 153
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