Digital replacement market advances with demand from the medical sector

Medical - Mohit Shah - Jun 21,2017

Rating -

stars - based on 21 reviews

digital replacement market advances with demand from the medical sector

As per statistics, the worldwide market for digital replacement will grow at a CAGR of 5%, along with an increase in sales revenue of $92.2M by the end of 2023. 

Looking at the current scenario, the digit replacement market is surging exponentially since the medical sector is dependent on their premium products, primarily for the important patients. It has been further analyzed that, the primary driving factor for the concerned market is the aging population and the following rise in the prevalence of arthritis.

As per an intelligent research study published by Market Research Hub (MRH), it has been analyzed that the growth of the digit replacement market would take place at an anticipated CAGR of 5% during the period until 2023. At this pace, the sales are expected to reach a mark of $92.2M during the stated period.  Also, the sales of digit replacement implants were recorded approximately $65.5M in 39 countries, as per data collected for 2016.

Currently, it is noted that the improvements in materials research for joint reconstruction will push the adoption of digit replacement in the coming few years. However, excessive short-term complications, as well as superior results from arthrodesis (joint fusion), loom the widespread adoption of these devices. 

The geographical expanse of the digit replacement market is spread across North America, Europe, Middle East and Africa, South America and APAC. Among these, the most active countries are Japan, Brazil, South Korea, Argentina & Chile, Canada, Israel, Mexico, U.S., South Africa, Denmark, Finland, Norway etc. The dominance in these regions is possessed by key market players which have successfully established their stand. Some of these top manufacturers comprise of Integra Life Sciences, Wright Medical, Stryker, Zimmer Biomet, Depuy Orthopaedics.

 

For more information on this report visit-http://www.marketresearchhub.com/report/medipoint-digit-replacement-global-analysis-and-market-forecasts-report.html