Market Trends of Vacuum Mixing Devices Industry
This section covers the major market trends shaping the Vacuum Mixing Devices Market according to our research experts:
Based on End User, the Ambulatory Surgical Center Segment is Estimated to Witness a Healthy Growth
Ambulatory surgery centers, also known as ASCs, are modern healthcare facilities focused on providing same-day surgical care, including diagnostic and preventive procedures. The ambulatory surgery centers are increasing in demand due to the growing number of joint disorders, the increasing burden of the geriatric population and the rising preference for ambulatory services in order to avoid unnecessary hospitalization charges are the major factors driving the market growth.
As per the statistics provided by American Hospital Association (AHA), in 2018, there were around 5,532 Medicare-certified ambulatory surgical centers in the United States. In addition, the overall outpatients' visits increasing by 1.2% year on year compared to hospital admissions.
Moreover, according to Medicare, the country United States spent around 4.9 billion USD in 2018 on ambulatory surgical centers. Furthermore, in the United States, the Agency for Healthcare Research and Quality (AHRQ) is committed to improving the safety and quality of ambulatory care. Thus, the rising prevalence of joint disorders and the benefits associated with the ambulatory surgery centers are driving the segment growth.
Less time required for orthopedic procedures, minimal discomfort due to the introduction of keyhole surgeries, and faster time of recovery are some of the major factors supporting the demand for orthopedic surgeries or procedures in ambulatory surgical centers/clinics, thereby affirmatively impacting the growth of the segment. Moreover, low cost due to a smaller number of hospital stays is expected to increase the demand for orthopedic procedures in ambulatory centers. These facilities are more competent than the hospital and offer an added source of revenue to the healthcare providers.
As per the study published in November 2020 on 'The shift to ASCs isn't what you thought: A tale of nuances in two specialties' stated that around 10% of total orthopedic procedures were performed in the ASC in 2018 but is projected to reach about 68% by mid-2025 across the globe. Thus, with the increasing number of orthopedic surgeries in ambulatory settings, the demand for vacuum mixing devices is increasing. Hence, the market is expected to rise at a significant rate during the forecast period.
North America is Expected to Hold a Significant Share in the Market
North America is expected to hold a significant market share in the market due to the increasing aging population, increasing joint-related disorders, increasing healthcare expenditure, and the presence of well-established healthcare infrastructure. The rising aging population in North America is more susceptible to fractures and injuries and requires joint replacement surgery more often. Bone cement is used for surgery and this technique is a better alternative to screws and wires. This results in propelling the vacuum mixing devices market in this region as these devices are widely used for orthopedic treatment.
According to the US Arthritis Foundation in 2020, arthritis is the leading cause of disability among adults in the US. By conservative estimates, about 54 million adults have been diagnosed with arthritis and almost 300,000 children have been suffering from arthritis or a rheumatic condition. This results in propelling the vacuum mixing devices market in this region as these devices are widely used for orthopedic treatment.
The rising burden of bone and joints disorders is creating tremendous opportunities for market players, and they are focusing on launching new and reliable products to the market, thus driving the market growth. Some of the major vacuum mixing devices providers in the North America are Zimmer Biomet, DJO Global Inc., and Stryker Corporation.
In 2018, Heraeus Medical launched two vacuum mixing systems, PALAMIX and PALABOWL, to its current PALACOS product portfolio in the United States. The innovative PALAMIX and PALABOWL, while created for use with PALACOS bone cement, can be effectively used with other types of bone cement.
In the short run, it is expected that there will be a slight impact on the growth of the market owing to the rising cases of COVID - 19 in the North America. However, all these factors are expected to drive the vacuum mixing devices Market.
