Medical Implants and Their future
Published On: February 2018
Nowadays, manufacturers are more focused on adapting various business development activities such as mergers and acquisition to introduce advance medical implant technology to the market. For instance, in Feb 2016, Dentsply International Inc. and Sirona Dental Systems merged with equal shares for introducing advance implant technology. Moreover, in May 2017, Boston Scientific Corporation acquired Symetis SA to focus on minimally-invasive Trans-Catheter Aortic Valve Implantation (TAVI) Devices. This acquisition helps the companies to arrange funds and resources for conducting effective and fruitful research to introduce advanced technology.
Medical implant is a device that is placed inside or over the surface of the body in order to replace or repair the body part or organ. These devices are placed permanently or removed depending upon the nature of the treatment. Continues involvement of major companies such as Medtronic, 3M, and Institut Straumann AG in research and development activities along with merger and acquisition are likely to help the medical Implants industry to introduce advance implants treatment to the market.
Since the outcome of these advanced medical implant devices is much better than the traditional implants, the patient is not hesitating to accept the advanced technology to improve their health status. According to the American Society of Plastic Surgeons, in 2015, buttock implants was the fastest growing cosmetic surgery. Furthermore, after every 30 minutes, a buttock procedure is performed across the globe.
Advanced technology and its effects on survival rate?
Over the last few years, the prevalence of various diseases such as cardiovascular, neurological diseases, otospongiosis and other chronic diseases has been increasing. Thus, rising population of these patients have generated a huge demand for the technology, which helps patients to improve their quality of life and better outcome after surgery.
Advanced medical implants technology has improved the surgical outcomes considerably, which drive the acceptance of this technology globally. As better treatment minimize the cost of reinvestment by the patients, they are more interested to adopt this technology. Additionally, increasing the success rate of surgery gaining the trust of the patient for implants procedure.
Though the advance implants devices are popular and acceptable across the globe, it comes with few drawbacks such as the cost of treatment is high as compared to traditional implants procedures. Therefore, patients from developing region are facing challenges to afford the cost of advanced medical devices.
Mergers and Acquisitions: What could be the Outcome?
Currently, medical implants devices are widely used owing to increasing prevalence of chronic disease, which is driving the market growth.
Companies like Boston Scientific Corporation, Medtronic, Johnson & Johnson Services, Inc, 3M, Institut Straumann AG, Stryker Corporation, Smith & Nephew, and Dentsply Sirona and others are focusing on partnership, acquisition, and collaboration for developing a new pipeline and introducing better and advanced medical implants devices to the market. For instance, In July 2017, Smith & Nephew signed the 3-year partnership with a research group in the Department of Mechanical Engineering to find new ways to support one of their most important joints. Furthermore, in January 2016, Smith & Nephew plc announced the acquisition of BST-Carmel, a first-line cartilage repair product from Piramal Healthcare (Canada) Limited in order to gain major market share through greater innovation and drive efficiencies to liberate resources.
Similarly, in April 2017, Zimmer Biomet Dental announced a collaboration with NovaBone Products for distribution of NovaBone Dental Putty & Morsel devices. In October 2016, The company acquired Respond Well Telerehabilitation Platform for Zimmer Biomet Signature Solutions in order to expand their portfolio and product offering. Since these medical implants help to improve the life of the affected patient, the demand for these devices has increased as compared to the traditional implants by many folds.
Quality of implants and its impact on the market
Regulatory compliance is the process, which helps markets and consumers to set standards and quality products and restrict the manufacturer to meet the specification set by the government of particular countries. Thus, manufacturers are continuously engaged in the research for introducing advanced implants devices as per countries standard, which may create the challenge for the players. However, the high cost of tests is also considered as one of the major factors, which challenge the medical implants market.
Trends in the medical implant devices
It is observed that the demand for these advanced medical implants is rising in developing nations of Asia Pacific region such as India, China, and other owing to a better outcome and reducing reinvest treatment cost. Furthermore, government support to the private agency in order to improve the healthcare infrastructure in their countries, and changing lifestyle are adding fuel to the market growth. Additionally, increasing prevalence of various chronic diseases such as cardiovascular diseases and neurological diseases may boost the growth of the Asia Pacific medical implants devices market over the coming years.
