Dr. Ira Kirschenbaum Shares Joint Replacement Implant Industry Data
Dr. Ira Kirschenbaum is the Chairman of Orthopaedics at Bronxcare Health System in Bronx New York, and a notable leader who specializes in knee, hip, and shoulder replacements. He recently shared information from an industry report about joint replacement implants. Dr. Kirschenbaum is known for helping develop a minimally invasive knee replacement surgery in which he replaces partial tissue in the knee, instead of the entire knee. You can learn more about his process here.
The recent report released details changes occurring in the Orthopaedics industry, specifically the growing popularity of generic joint implants in new markets, and an increasing awareness of 3D technology and robotic technologies to increase surgery efficacy.
Chronic conditions such as osteoarthritis, rheumatoid arthritis and post-traumatic arthritis continue to affect the condition of joints. Additionally, obesity and previous injuries can lead to deterioration of the joints. Since the prevalence of these problems has increased in recent years, the number of orthopaedic surgeries has increased dramatically.
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%. This expected growth is due to the growing population of aging people who are living longer average lifespans today. Another contributing factor is the rising rate of obesity, and the awareness of the benefits of joint replacement surgery is spreading.
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% of the market. That segment is expected to grow by 4.9% 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%, the North American orthopaedic joint replacement market is the largest one in the world.
Western Europe comes in second at nearly 20%. 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.
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 orthopaedic 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 orthopaedic 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 orthopaedic 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, orthopaedic 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 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 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 cemented, 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 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. They help them see 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. You can read a summary of the report on Marketwatch.
You can learn more about Dr. Kirstenbaum’s contributions to the industry here: