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jobs-ai-could-replace-soonContinuous-flow centrifugation technology has been evolved as a high-precision method over the years. This has resulted in a significant improvement in patient comfort and efficiency in blood and plasma products processing. Compared to other technologies such as membrane separation techniques, this method requires very little blood flow.
Compared to previous membrane-based apheresis devices that need invasive central venous catheterization, it is an improved technique that allows for simple access to blood through the patient's peripheral veins. Furthermore, technological advancements increase patient convenience, safety, and quality care during TPE procedures and improve fluid balance management for hemodynamic stability throughout treatment. Such technological advancements for product enhancement are projected to fuel the overall market growth during the projected period.
Developing economies such as India, China, Brazil, South Korea, and Mexico provide enormous growth prospects to both existing and new market participants. It is primarily due to an increase in the incidence and prevalence of osteoporosis and a substantial patient population. Increasing healthcare infrastructure, growing geriatric population, disease diagnosis, treatment awareness, and regulatory laws in the Asia-Pacific region are more adaptable and business-friendly than in industrialized countries.
Due to increasing competition in developed regions, prominent companies in the medical plates and screws market have shifted their emphasis to emerging regions. For example, Medtronic Plc, a global leader in medical technology, has established R&D centers in emerging markets such as South Korea to boost its product development skills and presence in Asia-Pacific. Furthermore, market participants concentrate on product development, innovation, and technological advancements. This is projected to positively influence medical screws and plates market growth and create significant demand for medical screws and plates.
The pandemic brought devastation to the medical and healthcare industries. In 2020, trauma centers were closed from April to June, accounting for one-third of the volume of activity in the previous year. However, irreversible orthopedic crises were treated with extreme caution when upgraded PPE, incubation, dedicated surgical teams, and high-speed power instruments were used. Finally, the pandemic has affected standard orthopedic practices, resulting in detrimental consequences.
According to Information from the International Journal of Environmental Research and Public Health, during the first half of 2019 and 2020, retrospective research of orthopedic and trauma patients was undertaken at three clinics: a level L university associated regional trauma center in Timisoara, a private hospital in Cluj-Napoca, and a general hospital in Bucharest. The analysis revealed that hospital admissions in the three centers collectively decreased by more than half in March.
North America is predicted to be the market leader in demand and revenue creation for osteosynthesis equipment. The majority of the orthopedic device industry is located in the United States. Rising healthcare expenditures account for 17.5 % of the country's GDP, making it the most economically viable and significant market for osteosynthesis equipment.
On the other hand, Asia-Pacific is predicted to be the fastest-growing market over the projection period. Japan, China, and India are experiencing exponential development in the orthopedic business, with Japan accounting for more than 40% of Asian orthopedic products. The China orthopedic market is expanding at a pace of 15% to 20% per year, whereas the market in India is increasing at 12% to 15% per year. Furthermore, most medical device makers in the United States and Europe control a sizable portion of the orthopedic markets in Japan, China, India, and other Asian nations.