
By 2025, the Orthopedic Industry is slated to reach $66,636 million dollars. With the rising need for replacement surgeries, the industry in itself has also experienced a boom in the manufacturing of products. This sudden surge in the need for products has given room to a lot of innovation and technology by means of research and development which makes R&D quite a substantial component in the production of high caliber as well as good quality implants.
Most often R&D is considered only as a means of having a competitive advantage in a market place but there is more to that than just doing better than your competitors. Investing in R&D provides an opportunity for the companies to manufacture products that are able to move one step further from traditional implants and create ones that provide greater flexibility to the patients. Innovation in the orthopedic implant market has been stalling for a great time and a reason for this is primarily the large time frame that is needed to get products approved from an administrator. As a result, most manufacturers only build on the existing range and do not pay much attention to the introduction of new products.
Considering India, the research and development market in the country is quite underdeveloped. Companies lack the acumen and resources to power their own research centers and often end up taking the fall against their foreign counterparts that dominate the market with new cutting edge technology. This calls for an action from the government to make provisions for the companies to be able to actively engage in the development of the new products.
Here at Matrix Meditec, R&D carries a lot of emphasis for the company since our mission stresses on bringing advancement in the field of orthopedics. With a specialized team dedicated to Research and development, it lies at the core of Matrix Meditec’s manufacturing philosophy. Matrix Meditec is the only company in India and among the few in the world to develop and release a Gentamicin coated/ drug-eluting implant. The use of Gentamicin in implants helps to prevent an infection that arises in open wounds. This product also gives sustained drug released for 28 days to the affected area. A patented product of the company, the implant is one of a kind to be introduced within the orthopedic diaspora in the country.
Matrix Meditec has also managed to redevelop the foot and ankle category in such a way that the new implants are engineered to make sure that the natural mobility of the foot is restored after surgery. The products are designed to preserve flexibility for the patients and make it easier for medical professionals to put the implants to use. Today, it happens to be one of the most acknowledged products in our range alongside Trauma and Spine. This is made possible only after significant human resources and research are used to develop product range like these.
Strict regulations, lengthy procedures for approval of clinical trials and the high costs involved are often barriers that tend to hold back the companies from allocating resources towards advancement. But at the same time, it is essential to note that the benefits of R&D outweigh its cost in the form of better revenues and enhance patient lives.
Matrix Meditec was started in 2004 with the single-minded focus to provide world-class implants and instruments to our users. Since then, it has come a long way. With a business that spans over 30 countries, Matrix has now established a name for itself in the industry across the globe. We are driven by radical engineering and superior technology to help people with orthopedic imparities lead the most comfortable lives. Our product range spans from trauma, spine, joint to hip replacement and instruments. We believe that our inclusive range of products, an assertion on high quality, ingenious production, a wide network spread across 30 + countries and ever-growing relations with stakeholders in the healthcare industry is the main reason behind Matrix’s success in the fraternity of orthopedic implants and instruments.
Know more: https://matrixmeditec.com
