Recently Updated: March 7th, 2019.
Dr. Ira Kirschenbaum, the Chairman of Orthopedics at Bronxcare Health System, in Bronx New York, recently highlighted for the public some of the most fascinating trends in the field of orthopedics, based in part on the data in a newly released 377-page report prepared for orthopedic industry professionals and investors. Some of Dr. Ira Kirschenbaum’s insights are discussed below. The report is entitled, “Major Orthopedic Joint Replacement Implants Global Market Opportunities And Strategies To 2022” and it was released in July 2018.
Dr. Ira Kirschenbaum Is a Highly Qualified Spokesperson For Orthopedic Advancements
Dr. Ira Kirschenbaum’s expertise, including decades of surgical experience and interacting with his patients before and after these procedures, enable him to share insights that are particularly pertinent to patients considering joint replacement surgery. His insights may also be helpful to potential investors in companies producing joint replacement implants and other orthopedic materials, as this is one of the most rapidly expanding fields of medicine. Dr. Kirschenbaum is also well known for his innovative approaches to knee, hip, and shoulder surgical replacement procedures.
Dr. Ira Kirschenbaum is most famous for developing a “minimally invasive knee replacement” surgical procedure in which he performs orthopedic knee replacement surgery through a much smaller surgical incision than is normally used in traditional methods of knee replacement surgery. In these minimally invasive knee replacements, Dr. Ira Kirschenbaum replaces only some of the knee joint, rather than the entire knee joint, reducing the amount of trauma to the surrounding tissues. This less invasive procedure has major advantages to the patient, including a faster and less painful recovery period and higher overall efficacy. You can learn more about Dr. Ira Kirschenbaum’s procedure here.
Dr. Kirschenbaum Shares Joint Replacement Implant Industry Data From the Industry Report and Other Professional Sources
Major changes are occurring in the orthopedics industry right now. While joint replacement is soaring in popularity among patients. The report describes how joint implants are reaching new markets across many countries, especially the rapid growth economies of Brazil, Russia, India, and China, the so-called “BRIC countries.” The report also details how generic implants are bursting onto the scene, how orthopedic surgeons are becoming more familiar with 3D technology, and how robotic technologies are increasing orthopedic surgical efficacy (outcomes).
The use of robotics is no longer talked about as being something solely in the future as if in a Star Trek episode. Robotic arms are already being used in joint replacement surgery by orthopedic surgeons like Dr. Ira Kirschenbaum, who is an advocate for changing technology. Robotic arms give the surgeon more precise control when cutting through tissues and manipulating tissues during surgery. Robotic arms can also be used to place implants more precisely and easily. It should be noted that anything that cuts down on surgery time, while improving the quality of the surgery, is a big win for the patient.
3D color consoles are now being used that vastly improve visibility for the surgeon during the surgery and this improves outcomes for the patient. Since every patient’s internal anatomy is unique, it is helpful for an orthopedic surgeon to be able to plan the surgery ahead of time using 3D technology. To do this, a CT scan of the joint is taken in advance and this scan is fed into special software that converts it to a 3D image of the internal joint that can then be displayed on the 3D color monitor during the surgery.
From an immediately practical standpoint, one of the biggest changes in the orthopedic industry is that generic joint implants are rapidly becoming more available. This is because the patents on legacy implants are expiring. Companies specializing in generic orthopedic implants have sprung up almost overnight. At least sixteen of these companies were already well underway in the United States in 2017 and likely many more will enter the market over the next few years.
Some generic joint implants are actually more advanced than the legacy branded implants on which they are modeled. This is because they have the advantage of including improvements in their design more rapidly in response to both published surgical data and direct feedback from surgeons. Of course, lower cost is another big advantage that generic implants bring to the table for patients and for insurance companies. This is similar to the lower cost of generic prescription drugs compared to the higher price of patented prescription drugs.
In the very near future, manufacturers of joint implants will be using 3D printing technology (additive manufacturing, layer by layer) to produce artificial joint implants. According to the American Academy of Orthopedic Surgeons (AAOS), 3D printing promises to “revolutionize” the field! 3D printing technology will be used to create personalized “custom” implants so that implants fit better in each patient. 3D printing can be used to create porous structures, internal channels, and many other specificities.
Dr. Ira Kirschenbaum Discusses the Expansion of the Orthopedic Implant Market
Chronic medical conditions such as osteoarthritis, rheumatoid arthritis, and post-traumatic arthritis continue to affect the condition of joints. Since the prevalence of these problems has increased in recent years, the number of orthopedic surgeries, many involving joint replacements, or partial replacements, has increased dramatically. According to the United States Centers For Disease Control and Prevention (CDC), an estimated seventy-eight million American adults, or twenty-six percent of the American adult population, is expected to have some form of arthritis by 2040.
In 2017, the worldwide joint replacement implant market had a value that exceeded $16.5 billion. The market is expected to grow to a total of more than $20 billion in 2022 at a rate of 3.87 percent. This expected growth is due to the fact that the average lifespan has increased dramatically over the last few decades. According to the Institute for Health Metrics and Evaluation (IHME) at the University of Washington, the global life expectancy for women increased 10.3 years. For men, the average lifespan increased 6.9 years during the same time period
Another major contributing factor to the increased demand for generic joint replacements is the rising rate of obesity. According to the latest compiled data (2015-2016), released by the United States Centers For Disease Control and Prevention (CDC), a whopping 39.8 percent of all adult Americans are obese (and this number is growing!). This means that about 93.3 million adults in the U.S. are at a much higher risk for significant joint deterioration to such a degree they would benefit from a joint replacement. Further, obese Americans are increasingly opting for joint replacement surgery as American doctors, like Dr. Ira Kirschenbaum, have spread the word on the improved quality of life joint replacements can offer a patient.
Rising obesity rates contributing to joint deterioration is not limited to the United States. According to the World Health Organization (WHO), the number of people experiencing obesity worldwide has tripled in the four and a half decades since 1975. This international organization also reports that approximately 650 million people worldwide were obese in 2016. Linked closely to this rapidly upward trend in obesity is a marked decline in healthy eating habits around the world, along with the spread of the less healthy western diet into many countries during this time period.
For many people, arthritis and obesity go hand and hand in contributing to joint deterioration. According to the Arthritis Foundation and published scientific research, for every single pound of excess weight a person carries on their body, this adds FOUR pounds of pressure on both of their knees. So, a person with a height of five feet nine inches is considered overweight starting at around 169 pounds and obese around 203 pounds. If a person of this height weighs 203 pounds, just barely in the obese category, he or she would be adding 203 – 169 = 34 x 4 = 136 pounds of extra pressure to both of their knees every time they stand or walk.
Bottom line, extra weight is hard on the load bearing joints! With this in mind, it’s easy to understand the progression from obesity to arthritis to joint deterioration to needing joint replacement surgery in order to regain function and eliminate pain, in addition to weight loss of course!
Segment Growth Data
The largest segment of the global orthopaedic joint replacement market is represented by knee replacements. In 2017, it accounted for more than 50 percent of the market. That segment is expected to grow by 4.9 percent until 2022. The projected growth includes both partial and total knee replacement surgeries. There have been several new innovations in knee replacement surgeries that make them more appealing. The increasing number of sports injuries in recent years has also been a contributing factor to the rise in occurrence. At more than 50 percent, the North American orthopedic joint replacement market is the largest one in the world.
Western Europe comes in second at nearly 20 percent. According to experts, some of the fastest-growing markets in the next few years will be Brazil, Japan, China, and India. Some of the major names in the industry include Zimmer and Biomet, DePuy Synthes, Smith & Nephew, Stryker, and Aesculap. Zimmer and Biomet took the leading market share at nearly 28% in 2017. The total market is worth about $16.6 billion.
The Market For Minor orthopedic implants Is Growing Too
Artificial implants have been used in ankle joints, foot joints, shoulder joints, and wrist joints for years. However, this segment of the market is poised to really take off in the next few years due to advances in implant design, implant materials, and surgical techniques. Smaller human joints, like the wrist joints, are more complex and the failure rate of implants for these smaller joints have been significantly higher than in the larger knee joint. However, better materials and better design of implants for smaller joints have decreased the failure rate substantially. Ceramic and plastic materials used in the older implants for smaller joints have been replaced by better materials like chromium, cobalt, molybdenum, polyethylene, and titanium which have a longer life cycle.
The Purpose Of Joint Replacement Surgery
When people have chronic pain that limits their mobility or their ability to carry out daily tasks, joint replacement surgery may be suggested by an orthopedic surgeon. It is also suggested when there is improper functioning of the knee or hip joints. If there is an improper function in one joint, it can put stress on other parts of the body and may lead to additional injuries. Joint replacement implants improve mobility and restore function for most people.
Dr. Ira Kirschenbaum: Leading Expert and Orthopedic Surgeon
Dr. Ira Kirschenbaum is the chairman of the Bronxcare Health System’s orthopedic surgery department in New York. He studied at Brown University and at Albert Einstein College of Medicine of Yeshiva University. He completed his residency at Montefiore Medical Center. He also completed an adult reconstructive orthopedic surgery fellowship at The Rothman Institute. After he completed his medical studies, Dr. Kirschenbaum also studied healthcare delivery management at Harvard Business School. He co-founded a few organizations including Medscape and held multiple prestigious positions including chief of surgery, director of resources and several others. With his extensive skills and impressive educational background, Dr. Ira Kirschenbaum has helped make strides in the industry.
Throughout his career, Dr. Ira Kirschenbaum has been known for being an innovator in information technology, design, process engineering, operational leadership, and other areas. As an authority figure, he has published numerous educational materials and has lectured as well. Some of his topics of focus are information technology, orthopedic surgery, electronic media, joint replacement systems, and practice management. Additionally, several joint replacement systems were designed by Dr. Ira Kirschenbaum. His joint replacement surgery experience is expansive. At one time, he had a solo practice for joint replacement surgery and completed about 500 operations per year for multiple years. Over the years, he has won multiple awards for ensuring the quality of care and for innovation.
Joint Replacement Implant Market Data Reports
This recent report covered the entire market and its segments along with data about different types of materials for implants, such as polymer clay metal and ceramic implants. Some products combine materials. Ceramic on the polymer, metal on polymer and ceramic on metal implants are the main types of combination products.
Market segments are also divided by fixation methods. This includes cement, cementless and hybrid are types of fixation. This refers to how the implant is attached. Some information is also divided by company name including the leading companies that were previously mentioned. Additionally, information is divided by country and separated by region. For example, the Middle East, Asia-Pacific, North America, South America, Eastern Europe, Western Europe, and Africa have included regions. There are also information blocks that are based on time periods ranging between one and five years.
The Report in Depth
The full report is available on ReportLinker. It is critical and timely with its scope of information. The information outlines the growing popularity of implants, healthcare reforms that affect accessibility in developing and developed countries, increasing efficiency due to improved technologies and other factors. For investors, the data segments are vital. It highlights which companies outperform competitors and in which categories they do so. Also, the reports with segment information show which products and methods are growing the fastest in various regions.
With such detailed information, investors can make decisions that are based on restraints, forecasts, and past data. Regional and local analyses help them develop better strategies when paired with information about economic and political trends. Also, the reports help them stay current with new technologies and design developments. Segmented analyses provide benchmarks that show performance in relation to key competitors. With forecasts and trends, investors can better predict future trends as well. There are relationships between the data sets that reveal important information for strategy building, and the reports are good for creating external and internal presentations that are based on global perspectives.
The report also details predictions and growing trends within the industry. Read a summary of the report on Marketwatch.
Is Joint Replacement Surgery Miraculous?
As described in the July 2018 orthopedic industry report, technological advances are happening very rapidly in the medical specialty of joint replacement surgery. Ten years ago, the failure rate of the implants used in these procedures was much higher and the recovery time much longer. Minimally invasive procedures were only just being developed. Today, joint replacement surgery has improved to the point it is verging on “routine.” No longer is joint replacement surgery always considered a remedy of “last resort.” Rather, doctors are becoming more comfortable presenting joint replacement surgery as a good option that could vastly improve a patient’s quality of life. This is even more significant with when a patient is in his or her mid to later years and they may be yearning for feeling like they did when they were younger.
Dr. Ira Kirschenbaum has been an important leader in the rapid advancement of the orthopedic field. While no type of surgery is technically a “miracle,” at least some of Dr. Kirschenbaum’s patients must at feel like joint replacement surgery is a miracle when they are able to do things they haven’t done in years! After recovery, many patients who have undergone joint replacement surgery are able to enjoy their life more fully. It is becoming more commonplace to hear uplifting stories about people who are able to get back into active hobbies they enjoyed when they were younger and or play with their grandchildren more robustly after knee and hip replacement surgery. Many retired people who undergo joint replacement surgery appreciate being able to travel more easily.
Given the rapid improvements in orthopedic medicine discussed in the July 2018 report, we can expect that these types of stories will become much more common in the next few years. So, stay tuned! We are living in amazing times! Learn more about Dr. Ira Kirstenbaum’s contributions to the orthopedic industry here: