India faces 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, The Indian orthopedic devices market is expected to grow at a compound annual growth rate (CAGR) of around 5% through 2033. () Rising healthcare awareness and a thriving medical tourism industry are also contributing to market expansion.
Closing the gap: India’s need for advanced orthopedic care
Shreya Jain, medical device analyst at GlobalData, highlights that while the sector is growing rapidly, 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 close the gap and improve access to world-class 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 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 such as augmented reality and advanced materials to the Indian orthopedic landscape.
Jain concludes that international collaborations will be essential to integrate advanced technologies and expand 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 more investments.
Reference:
- India orthopedic devices market to grow at a CAGR of 5% until 2033 – (https://www.globaldata.com/media/medical-devices/india-orthopedic-devices-market-grow-5-cagr-2033-forecasts-globaldata/)
Source-Medindia
