Demand for Orthopedic Implants Will Skyrocket
The number of hip and knee replacement surgeries performed in the United States has skyrocketed over the last decade. According to the American Academy of Orthopaedic Surgeons (AAOS), there will be a 101 percent increase in hip replacements and a 550 percent increase in knee replacements between now and 2030.
The number of hip and knee replacement surgeries performed in the United States has skyrocketed over the last decade. According to the American Academy of Orthopaedic Surgeons (AAOS, Rosemont, IL), 285,000 total hip replacements and 523,000 total knee replacements were performed in the U.S. in 2005.
By 2030, these two procedures are expected to jump to 572,000 and 3.4 million, respectively. The AAOS predicts there will be a 101 percent increase in hip replacements and a 550 percent increase in knee replacements.
A recent study conducted by the Freedonia Group Inc. (Cleveland) confirms that trend. Artificial knees will set the pace over the next decade, says Bill Martineau, Freedonia’s healthcare industry analyst. The market for replacement knees will jump from $3.4 billion in 2007 to $7.1 billion by 2017. The artificial hip industry will grow from $2.5 billion to $5.3 billion over the same time period.
“Individuals afflicated with osteoarthritis will account for the largest number of reconstructive joint replacements,” Martineau points out. “Osteoarthritis is a chronic degenerative condition that affects more than 27 million people in the U.S., 80 percent of whom are female. About 90 percent of people over 40 experience some symptoms of primary osteoarthritis. Since the symptoms of osteoarthritis tend to worsen with age, the U.S. market for reconstructive joint implants will increase with evolving demographic patterns.”
The number of hip and knee replacement surgeries performed in the United States has skyrocketed over the last decade. According to the American Academy of Orthopaedic Surgeons (AAOS, Rosemont, IL), 285,000 total hip replacements and 523,000 total knee replacements were performed in the U.S. in 2005.
By 2030, these two procedures are expected to jump to 572,000 and 3.4 million, respectively. The AAOS predicts there will be a 101 percent increase in hip replacements and a 550 percent increase in knee replacements.
A recent study conducted by the Freedonia Group Inc. (Cleveland) confirms that trend. Artificial knees will set the pace over the next decade, says Bill Martineau, Freedonia’s healthcare industry analyst. The market for replacement knees will jump from $3.4 billion in 2007 to $7.1 billion by 2017. The artificial hip industry will grow from $2.5 billion to $5.3 billion over the same time period.
“Individuals afflicated with osteoarthritis will account for the largest number of reconstructive joint replacements,” Martineau points out. “Osteoarthritis is a chronic degenerative condition that affects more than 27 million people in the U.S., 80 percent of whom are female. About 90 percent of people over 40 experience some symptoms of primary osteoarthritis. Since the symptoms of osteoarthritis tend to worsen with age, the U.S. market for reconstructive joint implants will increase with evolving demographic patterns.”
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