With the medical field’s primary focus on COVID-19, it can be hard to keep up with shifts and trends within the medical industry. Yet, things are happening on that medical front that is worth watching. One industry currently experiencing some notable changes is the orthopaedic device market.
If you or a loved one has an orthopedic device it can be helpful to know about the changes going on. So, we’ve created this article to share the trends and shifts you should watch out for in the orthopedic device industry.
New Biological Capabilities
For many years there have been limited capabilities around healing specialized cartilage injuries. While oftentimes these are sports injuries and they still tend to cause diminished mobility and arthritis.
Yet, with the introduction of biological capabilities for an orthopedic device, this has changed. Patients who have experienced this type of injury have seen improvement.
By combining biologics and an orthopaedic device, doctors have been able to restore joint function. This has been achieved by leveraging the natural healing process of the body.
While this is still in the early stages the clinical applications have progressed remarkably. Which certainly makes this a trend to continue to follow.
Another trend and shift to watch for in the orthopedic device market are changed by the government. There have been new tariffs placed on countries like China, by President Trump. These imposed tariffs can affect over 15 spin and orthopedic device companies.
The FDA is making changes in the orthopedic device market as well. As a way to improve government oversight, steps have been added to the approval process for new devices.
The FDA has considered new safety rules to put in place for orthopedic devices as well. They are also making doctors get more training to implant high-risk devices.
Industry Shifts Toward ASCs
An additional trend in the orthopedic device industry shifts towards (ASCs). Ambulatory surgical centres are shaping a new landscape for the orthopedic device market.
The reason is many orthopedic device companies are turning their focus away from an inpatient care setting. They are now shifting their focus to outpatient surgery centers like ASCs.
3-D Printed Orthopedic Devices
Few industries haven’t seen the impact of 3-D printers. The orthopedic device market is no exception. Companies are looking to solve problems like hip surgery with 3-D printed implants.
With 3-D printing making its mark in other medical operations like spine implant, this trend in innovation is something to keep an eye on.
Merger and Acquisition Deals
One other trend in the orthopedic device market is mergers and acquisitions. Companies must gain new technology and make improvements. A way for that to happen is companies need to merge or be sold.
The orthopaedic device market is no different. As more companies emerge in the industry this is a trend that will continue to grow. See more here about recent mergers and acquisition deals.
Orthopedic Device Updates When You Need Them
Orthopedic device companies need to keep up with the trends and shifts in the market. As a consumer, knowing what to watch for can help you find better solutions for you or your loved ones.
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