Improving Health Care Services to Drive Latin American Orthopedic Device Market

According to a new report entitled Latin American Markets for Orthopedic Devices 2006, the Latin American orthopedic device market which comprises Argentina, Brazil, Colombia, and Mexico generated over $290 million in 2005 and will increase at a compound annual growth rate of over 10% over the next five years.

Waltham, MA (PRWEB) September 25, 2006 -- Millennium Research Group (MRG), the global authority on medical technology market intelligence, reports that improving health care services and changing demographics are driving the Latin American orthopedic device market. These factors will propel growth in the reconstructive and spinal implant segments. Poor road conditions and inadequate safety regulations -- leading to automobile accidents -- are the primary drivers behind growth in the trauma fixation device segment. According to a new report entitled Latin American Markets for Orthopedic Devices 2006, the Latin American orthopedic device market which comprises Argentina, Brazil, Colombia, and Mexico generated over $290 million in 2005 and will increase at a compound annual growth rate of over 10% over the next five years.

Although Argentina, Brazil, Colombia, and Mexico are developing nations, strengthening economic and socio-political landscapes in these countries have led to enhanced health care services and a resultant growth in demand for orthopedic devices. Latin American countries with large populations, such as Brazil and Mexico, are particularly attractive markets for orthopedic device manufacturers. At present, the aging cohort represents a small portion of the entire Latin American population, but over the next few decades, this segment will increase dramatically, leading to a strong demand for many orthopedic devices, particularly reconstructive and spinal implants.

MRG’s Latin American Markets for Orthopedic Devices 2006 report covers several key industry competitors, including Stryker (SYK), DePuy (JNJ), B. Braun/Aesculap, Synthes (SYST), Baumer, Medtronic Sofamor Danek (MDT), Zimmer (ZMH), Smith & Nephew (SNN), MDT, Biomet (BMET), IMECO, Fico, Villalba, Ortosintese, GMReis, Industria Sampedro, Orthoplan, Impol, Ortomac, Solco, Abbott Spine (ABT), Orthofix (OFIX), Quirort, Hemost, and Fico.

About Orthopedic Devices

Orthopedic devices comprise spinal implants, reconstructive implants, and trauma devices. Spinal implants are designed to address degenerative conditions, deformities, and trauma or tumors in the lumbar thoracic and cervical spine. Reconstructive implants are designed to alleviate pain caused by conditions of the hip, knee and shoulder. Trauma devices are used in the fixation of fractured bones, and include plates and screws; intramedullary (IM) nails; cannulated screws; IM hip screws; conventional hip screws; pins, wires, cables, and external fixators.

About Millennium Research Group

Millennium Research Group (www.MRG.net), a Decision Resources, Inc. company (www.DecisionResources.com), is a leading provider of strategic information to the health care sector. Focused solely on the medical device, pharmaceutical, and biotechnology industries, the company provides its clients with the benefits of its specialized industry expertise through published reports and customized consulting services.

All company, brand, or product names contained in this document may be trademarks or registered trademarks of their respective holders.

For more information, contact:

Amy Krohn

Millennium Research Group

416-364-7776 x101

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