Trends in the US implantables market are presented in a new study from the Freedonia Group Inc.. Some of its highlights, including the products with the greatest opportunities are outlined below.
Orthopaedics. Demand for orthopaedic implants will grow by 8.8 percent annually to reach nearly $26 billion in 2014. The market for reconstructive joint replacements will be boosted by improved products such as rotating platform knee replacements as well as the ageing US population and physically active lifestyle trends. Advances in implant products and related surgical technologies, coupled with an increasing prevalence of chronic back conditions, will create strong growth opportunities for spinal implants. Fixation devices and artificial discs for spinal fusion are expected to have the best opportunities.
Cardiac implants. Demand for cardiac implants is projected to increase by 7.5 percent per annum to $17.6 billion in 2014. Cardiac resynchronisation therapy (CRT) devices will show the fastest growth among pacing devices because they greatly improve therapeutic outcomes in congestive heart failure patients. Advantages over anti-arrhythmia drugs will keep implantable cardioverter defibrillators the preferred treatment for tachycardia. The lack of effective drugs for bradycardia will boost demand for implantable cardiac pacemakers. The introduction of new drug-eluting stents with improved designs and a reduced risk of complications will boost the market for cardiac stents and stent-related implants.
Other implantable medical devices, which will fare well in the US market include implantable stimulators for neurological conditions, brachytherapy for prostate cancer indications, cochlear devices for restoring hearing loss and gastric bands for obesity surgery. These products offer significant performance and outcome advantages over alternative treatments. Strong growth is projected for implantable drug pumps, intraocular lenses, glaucoma and retinal implants, silicone breast implants, dermal fillers and tissue implants.
The 427-page Implantable Medical Devices study is available from www.freedoniagroup.com.Annie Ellerton