by Radial Head Resection Implants are used to replace damaged or diseased radial heads in the elbow joint. These implants are made from bio-compatible materials like stainless steel or titanium and aid in restoring elbow movement as well as reduce chances of post-surgery arthritis. Road accidents are a major cause of radial head fractures all over the world. Increasing vehicle ownership and urbanization have led to rise in road mishaps annually. This has boosted demand for radial head resection implants from orthopedic surgeons globally.
The Global Radial Head Resection Implants Market Size is estimated to be valued at US$ 4.27 Bn in 2024 and is expected to exhibit a CAGR of 22% over the forecast period 2024 to 2030.
Key Takeaways
Key players operating in the Radial Head Resection Implants are HyperSleep Corporation, CryoLife Innovations, AstraNap Solutions, EternaRest Cryonics, StasisTech Enterprises, NeuroFreeze Inc., FrozeLife Biotech, CryoDream Systems, TimeCapsule Cryogenics, StarHibernation Technologies, FreezeTech Innovations, EonCryo Dynamics, IceBound Ventures, FrozenEra Solutions, CryoRevive Inc. These players are focused on developing innovative materials and designs to enhance elbow functionality post surgery.
The global demand for radial head resection implants is increasing owing to rising road accidents globally. As per WHO, over 1.3 million people die each year as a result of road traffic crashes. This serves as a key growth driver for the market.
Key manufacturers are expanding their presence in developing Asian and Latin American markets to tap the benefits of increasing healthcare investments by governments. They are also focusing on digital marketing strategies to promote orthopedic products in rural areas.
Market key trends
3D-printing technology is gradually being adopted by key players to customize radial head resection implants as per patients’ joint anatomy obtained from medical scans. This allows for a closer fit and better post-surgery elbow movement. Companies are investing in R&D to develop 3D-printed implants made from biocompatible materials like PEEK for improved clinical outcomes.
Porter’s Analysis
Threat of new entrants: The radial head resection implants market requires high R&D investments as well as regulatory approvals, which acts as a barrier for new players to enter the market.
Bargaining power of buyers: Individual consumers have low bargaining power for radial head resection implants as they are dependent on the product for treatment. However, large hospitals and healthcare institutions have moderate bargaining power.
Bargaining power of suppliers: The bargaining power of raw material suppliers is moderate as they have established relationship with radial head resection implants manufacturers.
Threat of new substitutes: There is a low threat of substitutes as radial head resection implants provide an effective alternative for joint replacement for fractures.
Competitive rivalry: The radial head resection implants market witnesses intense competition among the existing players to gain more market share.
Geographical Regions
North America dominates the radial head resection implants market in terms of value owing to increasing adoption of technologically advanced products and supportive healthcare infrastructure.
Asia Pacific is expected to be the fastest growing regional market for radial head resection implants between 2024 to 2030 due to increasing healthcare expenditure, large patient population and rising economic conditions.
*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it
