According to the study, ‘UNITED STATES HIP RECONSTRUCTION MARKET
OUTLOOK TO 2025’, there are many suppliers for hip reconstruction
equipment however; the market is dominated by only a few. The market share is
led by Zimmer Biomtech Holding Inc. Other
major players in the market are DePuy Synthes Inc, Stryker Corp, Exactech Inc,
Smith & Nephew Plc, MicroPort Orthopedics Inc. Recent reports have revealed
that the selling prices for large hip reconstruction joints are higher than
they should be. This could be a characteristic due to the influence of sales
individuals and high expenses. Traditionally, hip reconstruction market is an
industry in which the products were similar for instance the utility derived
from hip replacement companies would be the same throughout. To overcome this
issue, companies try to differentiate their products via proprietary material
consumption, technical designs or better additives.
Hip reconstruction involves the use of bone cement to replace the
affected portion of the hip. It may also involve modification of the affected
area with industrial material to improve the condition. Hips and knee and
joints are the most repaired joints with orthopedic equipments. Orthopedic
implant manufacturers produce implants that are required by surgeons for hip
reconstruction surgeries. Hip reconstruction requires robots to maintain
reproductive precision. As a next generation a mechanism, hip reconstruction implants
have evolved significantly to improve to enhance the tradition hip
reconstruction surgery.
The United States hip reconstruction market has been affected
mainly by the reduction in Insurance payments. These reductions in payments
have forced hospitals to play the roles of businesses. Cost cutting was one
methodology that was used in the supply chain and enterprises were examined
closely for cost and quality. The number of hip reconstruction in the United
States continue to grow at a steady pace over the past few years whereas the
revenue of the hip reconstruction manufacturing companies grows steadily
although at a slower pace. This slow growth in revenue is mainly attributed to falling
prices of reconstruction of implants due to market uncertainty. In USA, large
joint implants are approved by FDA’s 510 (K) regulation which requires manufacturers
to demonstrate and prove that the new device is similar to a product that is
already present in the market. This allows new devices to be introduced in the
market with minimum clinical data. This has resulted in lowering the cost of
approval of such devices which has proved to be a boon for this industry. Some
new devices that are currently being developed are OsteoMate Arthrodesis
Implant by Arthrosurfaces, Inc., Titan 3-D Wedge System by Paragon 28, AltiVate
Anatomic Shoulder System by DJO Surgical.
The hip reconstruction equipment
market is quite consolidated in USA with only a few major players holding on to
a significant market share. This makes the entry of potential players
difficult. However, if companies could come up with new advanced technology
which improves not just the efficiency of the implant but also aims to improve
the quality of life, it could prove to be a turning point for the overall
industry especially in United States that has highly a highly segmented market.
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