India is facing a growing burden of orthopedic disorders, fueled by an aging population, rising obesity rates, and a high number of road accidents. This combination is significantly increasing the demand for orthopedic devices, particularly joint replacements. According to GlobalData, India’s orthopedic devices market is expected to grow at a compound annual growth rate (CAGR) of around 5% through 2033. ()
The rise in healthcare awareness and a thriving medical tourism industry are also contributing to market expansion.
Bridging the Gap: India’s Need for Advanced Orthopedic Care
Shreya Jain, Medical Devices Analyst at GlobalData, highlights that while the sector is rapidly growing, access to advanced orthopedic care and high-quality devices is still limited in many parts of India. This presents a valuable opportunity for international partnerships to help bridge the gap and improve access to top-tier orthopedic treatments.
In a significant move, Alkem MedTech has partnered with Exactech to manufacture and market the company’s joint replacement implants in India. This agreement gives Alkem MedTech the rights to promote Exactech’s brands, such as Truliant and Optetrak, within the Indian market.
The collaboration allows Alkem MedTech to leverage Exactech’s expertise in implant design and manufacturing, while introducing innovations like augmented reality and advanced materials into India’s orthopedic landscape.
Jain concludes that international collaborations will be essential for integrating advanced technologies and expanding access to modern orthopedic care across the country. These partnerships are expected to play a pivotal role in shaping the future of India’s orthopedic sector and attracting further investment.
Reference:
- India orthopedic devices market to grow at 5% CAGR through 2033 – (https://www.globaldata.com/media/medical-devices/india-orthopedic-devices-market-grow-5-cagr-2033-forecasts-globaldata/)
Source-Medindia
