Zimmer Biomet, a leading orthopedic device company, exceeded third-quarter earnings expectations and raised its full-year revenue guidance. The company also announced the broad commercial launch of its new Z1 Femoral Hip System, a triple-taper femoral system designed for total hip arthroplasty.
Collette Smith, a resident of Edmonton, is facing immense frustration as her scheduled hip replacement surgery at the Royal Alexandra Hospital remains delayed. Despite being told by her surgeon in May that the procedure would take place within six to eight weeks, Smith is still awaiting a date in mid-October. This delay is part of a broader issue affecting elective orthopedic surgeries at the hospital since July. While AHS is working to reschedule surgeries at other facilities, Smith’s situation highlights the strain on the healthcare system.
Zimmer Biomet has announced plans to phase out its CPT Hip System by December due to a higher risk of postoperative fractures compared to similar devices. The FDA issued a warning based on research showing a 1.4% risk of thigh bone fractures with the CPT Hip System, higher than the 0.6%-1% rate for comparable implants. The company previously issued a recall in July to update instructions for use.
The global hip reconstruction devices market is projected to experience significant growth in the coming years, reaching US$ 6.7 billion by 2034. This expansion is fueled by the rising prevalence of hip-related conditions like osteoarthritis, an aging global population, and technological advancements in hip replacement procedures. The report delves into the market’s segmentation, key players, and regional insights.
