by Radial head resection implants are prosthetic replacements which are used to treat the part of the elbow joint that connects the radius bone to the humerus bone. They are used to help restore elbow function after fractures or damage to the radial head which is commonly caused by elbow injuries. These injuries can range from low energy falls in the elderly to sport or high-impact trauma injuries. Radial head implants come in various forms such as metallic, ceramic or polymeric options and are shaped to fit the patient’s unique fracture pattern and joint mechanics. They help reduce pain, restore elbow mobility and improve overall functionality of the joint. The global Radial Head Resection Implants Market is estimated to be valued at US$ 127.8 million in 2023 and is expected to exhibit a CAGR of 22% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
There is rise in adoption of bioabsorbable radial head implants which dissolve in the body over time as new bone grows in their place eliminating the need for follow up surgeries. These implants made from polymers such as Poly E-Caprolactone promise less complications compared to metal radial head implants and better preserve bone stock. Their resorbtion profile matches bone healing kinetics reducing stress shielding effects. Additionally, 3D printing is allowing more patient specific implant designs offering improved functional outcomes. Precision 3D printing of radial head implants utilizing imaging data can create perfect anatomical fits optimized for individual fracture patterns and joint mechanics.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate as new manufacturers will have to incur significant costs for R&D and commercializing new products. However, growing demand and availability of newer materials can attract new players in the market.
Bargaining power of buyers: The bargaining power of buyers is moderate to high due to availability of various products from different manufacturers. However, specialized nature of implants increases switching cost for buyers.
Bargaining power of suppliers: The bargaining power of suppliers is moderate due to availability of raw materials and components from various suppliers globally. Suppliers may face pressure on prices from growing competition.
Threat of new substitutes: Threat from substitutes is moderate as new generation implants are being innovated to treat complex fractures with minimally invasive techniques. However, substitutes may require changes in surgical practices.
Competitive rivalry: The competitive rivalry is high due to presence of global as well as regional players offering differentiated products. Players compete on basis of new product innovation, quality, and service.
Key Takeaways
The global radial head resection implants market size is expected to witness high growth.
North America is dominating the market currently due to high incidence of fractures and availability of advanced healthcare facilities in the region. The Asia Pacific market is expected to grow at the fastest rate during the forecast period owing to increasing healthcare expenditure, rising geriatric population, and growing number of orthopaedic surgeries in the region.
Key players operating in the radial head resection implants market are Acumed, Wright Medical Group N.V., DePuy Synthes, FX Solutions, and Biomet. These players are focusing on new product launches and gaining approvals to consolidate their market positions. For instance, in 2019, Acumed launched minimally invasive plate systems to treat complex fractures.
