FOR IMMEDIATE RELEASE
Pressnews.biz (Press Release) Mar 11, 2014
-- As the size of the elderly population in the US is growing, the incidences of various age related diseases such as arthritis and osteoporosis is also increasing which is expected to lead to significant surge in the hip and knee surgeries in coming years thereby propelling the orthopedic implants market as a whole.
In the US around 28.6 million people are estimated to sustain some kind of musculoskeletal injury annually according to the American Academy of Orthopedic Surgeons. Among the various musculoskeletal diseases, the medical conditions related to knee and hip joints are some of the fastest growing problems. The primary reason for the rising incidence of various orthopedic diseases in the US is the growing population of people above 60 years of age. These individuals are the largest customers of reconstructive products such as hip, knee and spinal implants in the US. Moreover, younger individuals in their 40s and 50s are also undergoing orthopedic surgeries, thereby propelling the market for implants used in these surgeries. As joint diseases such as arthritis, osteoporosis and other medical conditions such as obesity are increasingly becoming more prevalent; people are undergoing orthopedic procedures to get relief from chronic pain of joints and to regain their daily active routine. The improved success rates, convenience and awareness of the patients are also driving the demand for joint replacements in the US. According to a study presented at the American Academy of Orthopedic Surgeons' 2006 annual meeting it was estimated that hip replacements would increase 174% while knee replacements would increase 673% in the next 20 years.
“The number of people aged above 65 years is expected to increase to around 46.6 million in 2018 in the US which is expected to increase the prevalence of degenerative diseases in the country thereby fuelling the demand for hip and knee replacement procedures.” – According to the research report ‘The US Orthopedic Implants and Devices Market Outlook to 2018 – Driven by Rising Hip and Knee Replacement Surgeries’ by Ken Research.
While, the consistent increase in the demand for orthopedic surgeries in the US will benefit the implant manufacturing companies, it is also expected to present huge economic challenge for the country in the coming years in the form of surge in the costs for Medicare and other payers in the country.
The report provides detailed overview on the orthopedic implants and devices market in the US and helps reader to identify the ongoing trends in the key segments of the industry and anticipated growth in future depending upon changing industry dynamics in coming years. The report will aid industry consultants, orthopedic products manufacturing companies, hospitals, orthopedic surgeons and other stakeholders to align their market centric strategies according to ongoing and expected trends in future.
Contact Person: Ankur Gupta
E-mail: [email protected]