Extremities Reconstruction Market Promises a Face-Uplift amidst Growing Advancements in Microsurgery
Microsurgeries have witnessed tremendous advancement in recent years with several improvement in aesthetic, and functional outcomes. Moreover, assisted procedures like RPA are also making their way into the market aiding physicians, and hospitals to deliver effective care with lesser inputs. Advancements in microsurgery are also making way for new opportunities like reconstruction of lower, and upper limb preservation. The improvements can lead to prompt mobilization for upper limbs, and make way proper ambulation, and allow them to wear shoes to ready themselves for work. There are still certain challenges in the market including limited availability of tissues. However, solutions like free flaps can be deployed to overcome this problem. Moreover, the customization of flaps also offers opportunities for customizations, and enhance treatments. For example, chimeric flaps are known for their ability to provide simultaneous reconstruction methods for different tissues. The next wave of innovations requires a focus on functioning muscle transfer, and targeted muscle re-innervation. Moreover, the use of cross leg free-flaps in cases with limited blood supply and damaged limbs will provide new opportunities for growth, due to growing cases of accidents, and chronic diseases like cancer in the extremities reconstruction market.
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Growing Cases of Chronic Diseases to Drive New Opportunities for Growth
According to the World Health Organization (WHO), cancer has become the second leading cause of death worldwide. The statistics in 2018 also shows that one out of every 6 death in the world is caused by cancer. Moreover, 70% of deaths that happen due to cancer happen in low-and middle income countries. These regions have witnessed very little penetration in recent times, as the reimbursement mechanism, and healthcare sector expansion remained limited. However, countries like China, and India are encouraging strong investments in local economies with a key emphasis on private reimbursement method, with nationalised incentives making way for more potential for growth in the extremities reconstruction market. Cancer treatment like chemotherapy can often result in extremities as a side-effect, and the economic impact of cancer resulted in US$1.16 trillion in 2010. Since then, growing campaigns are raising awareness, and resulting in higher diagnosis, and cures for cancer patients. The increasing awareness about cancer, rising cases, and growing reimbursement scenario will make way for significant growth in the extremities construction market.
Rising Elderly Population to Emerge as a Key Driver of Growth in Developed World
The US, Europe, and countries like China are witnessing a demographic shift towards aging population. The growing aging population in the country has led to several shifts in healthcare policy like additional funding, and expansion of programs like MEDICAID. Moreover, China has opened its market for private insurers to cater to the growing elderly population. The rise of elderly population will also result in higher cases of chronic diseases like cancer, which are expected to emerge as a key driver for growth in the extremities reconstruction market. According to the European Commission’s report, Europe’s population will increase to 520 million from existing 511 million in 2016 by 2070. This will embed a significant decline in working-age population with numbers lowering from 333 million to 292 million. The changes in demographics will provide several new opportunities for growth for players in the extremities reconstruction market.
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