A Market Research Report analysis found the hip and knee orthopedic surgical implants market is expected to substantially grow through 2022.
Here are five things to know:
1. By 2022, the report estimates the market will total $33 billion.
2. The demand for implants is booming, with 325,000 U.S. patients undergoing total hip replacement surgery in 2015.
3. Warsaw, Ind.-based Zimmer Biomet is leading the market due to its Zimmer M/L taper hip prosthesis. The prosthesis has Kinectiv modular neck technology that allows surgeons to readily adjust the hip bone to fit the implant.
4. Factors fueling market growth include the growing U.S. aging population and strong demand and sales driving profit margins.
5. The report authors stated, "The use of the orthopedic implant represents a key milestone in reconstructive surgery. Implants have provided an opportunity to transform orthopedics. New materials and new designs are bringing that transformation forward. By furthering the growth of implant innovation, patients can get better treatment."