Orthopedic Medical devices

The medical science devices sector could be a dynamic field of the medical device trade. Devices accessible are often classified, as an example, as joint reconstruction, orthobiologics, trauma fixation devices, spinal devices, accessories, braces and arthroscopic devices. The industry is constantly innovating, adding new products to meet varying needs. 3D-printed implants and instruments, new biomaterials, computer-assisted surgical procedures and smart implants are only few examples of innovative products that improve clinical outcomes. At the same time, new automation technologies and robotics are increasingly deployed in the manufacturing process, predictably delivering high quality devices for the growing market. Consequently, the global orthopedics industry is expected to reach an estimated USD 62.6 billion by 2022 and is forecasted to grow at a CAGR of 5.5% from 2017 to 2021. An aging population, rising rates of obesity, 3 orthopedic diseases, degeneration and sports related injuries are more reasons leading to the increase.

As new innovations emerge, the developmental process can be complex and will be subjected to increased regulation and responsibility. In a highly competitive environment largely driven by innovation, orthopedic medical device manufacturers will face numerous challenges. Some of these challenges include high cost of innovation, obligation to conduct pre-market clinical investigations, stringent requirements of MDR and compliance to the Medical Device Single Audit Program(MDSAP).

 

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