Exactech has announced the completion of the first total ankle replacement operation using its Vantage Ankle 3D and 3D+ tibial implants. This milestone is expected to provide a boost to sales in the total ankle replacement market, a market that was worth $326.4m in 2023 and is projected to reach $620.5m in 2033, with a compound annual growth rate (CAGR) of 6.3%, according to GlobalData, a leading data and analytics company.
The benefit of these 3D-printed ankle implants, like all 3D-printed orthopaedic implants, is the ability to custom-made implants, producing a much simpler operation on the part of the surgeon. Additionally, this results in quicker recovery times, improved range of movement, and better osseointegration where the body integrates with the implant. While Exactech is not the first 3D-printed implant on the market, this can certainly aid in competing with the other medical device giants that operate in ankle replacements. The news of a successful Vantage 3D implant surgery is sure to show Exactech in a positive light and as the demand for ankle replacements is growing rapidly, moves such as this can certainly benefit Exactech in expanding its coverage of the market.
According to GlobalData, Stryker dominates the total ankle replacement market, accounting for approximately 71.8% of the market. Other major players Smith & Nephew and Zimmer Biomet make up 12.6% and 2.9% of the market, respectively, while Exactech holds 5.1%. Although we would not expect Stryker’s hold on the market to change shortly, positive events such as this can provide Exactech with the means to outperform companies like Smith & Nephew and Zimmer Biomet and may improve its market position.
The overall total ankle replacement market is quickly growing due to the increasing geriatric population as well as the increasing preponderance of arthritis. Some barriers to its growth would be higher prices and its relatively higher risk of failure. Total ankle replacement also competes with ankle fusion, which is an alternative treatment; however, ankle fusion provides limited mobility, as well as greater stiffness and pain associated with the procedure. For this reason, GlobalData expects that ankle replacement will take over ankle fusion as the standard therapy, which would further boost this rapidly growing market. The continued advancement of new technologies is sure to provide boosts in sales to companies that choose to regularly integrate these new technologies into their product development. Assuming Exactech can keep up to date with the latest advancements, more milestones such as this one can significantly aid the company’s standing in total ankle replacements.
