Orthopedic Prosthetics Market to Reach $14.5 billion by 2010, According to New Report by Global Industry Analysts, Inc.

Demand for orthopedic prosthetics is projected to register strong growth in the near term, driven by various factors including aging population, and rising instances of degenerative joint diseases such as osteoporosis and arthritis. By the year 2010, the market is projected to reach $14.5 billion.

San Jose, California (PRWEB) April 24, 2008 -- Orthopedic prosthetic devices are used as reconstructive devices for replacing joints, which have deteriorated due to osteoporosis, arthritis, or other injuries. Active lifestyles, rapid rise in the proportion of elderly and obese people, and the subsequent rise in degenerative diseases, have significantly enhanced the demand for reconstructive procedures. In developed regions, demand for innovative and premium devices is on rise. On the other hand, budget constraints in the developing world have necessitated the development of low-cost, limited function orthopedic implants.

United States and Europe represent the major markets accounting for over 70% share of the global sales, as stated in a recent report published by Global Industry Analysts, Inc. In Asia, increasing instances of osteoarthritis in women, as compared to their counterparts in the Western nations is a driving factor for rising number of joint replacement products. Further, advancing technologies are expected to foster the demand in the near future, driving the Orthopedic prosthetics market (http://www.strategyr.com/Orthopedic_Prosthetics_Market_Report.asp) in Asia-Pacific to grow at a CAGR of 12% over the period 2001-2010.

In the United States, the number of patients seeking hip and knee replacement procedures is growing rapidly, which is mainly attributed to the rising demand from aging baby boomer generation. By 2030, the number of total knee replacements, performed on first time patients, is expected to reach about 3.5 million. Knee Prosthesis represents the largest product segment. In the United States, Knee Prosthesis market (http://www.strategyr.com/Orthopedic_Prosthetics_Market_Report.asp) is projected to reach $4.0 billion by 2010. Hip Prosthesis market (http://www.strategyr.com/Orthopedic_Prosthetics_Market_Report.asp) in Europe is projected to register a CAGR of 9% over the period 2001-2010. France, Germany, and United Kingdom account for over 55% of the European market.

Minimally invasive surgery (MIS) technology has attracted significant attention in recent year, prompting major joint orthopedics firms to launch MIS procedures and related instrumentation for knees and hips. MIS is believed to lower the costs and allows quick recovery for the patient. MIS represents a major technology shift, which involves providing effective medical care, speedy recovery, and shorter hospital stay.

Global orthopedic prosthetics market is characterized by intense competition. As a result of consolidation activity, the market is dominated by a handful of large players including Zimmer, DePuy (J&J), Stryker Corporation, Biomet, Smith & Nephew, and Wright Medical. Majority of the players operate in hip and knee prosthesis segments. Zimmer, DePuy (J&J), Stryker, Biomet, Smith & Nephew hold about 90% of the orthopedic prosthetics market.

The report titled "Orthopedic Prosthetics: A Global Strategic Business Report" published by Global Industry Analysts, Inc. analyzes the market for hip, knee, and secondary (shoulder, ankle, elbow, wrist and finger and toe) prosthetic devices. The report offers a review of recent technological advancements, product innovations/ introductions, and strategic corporate activity of major participants in the market. The study analyzes the recent past, current and future projections over the period 2001-2015, while the historic analytics provide an overview of the industry's performance in the past (1991-2000).

For more details of this research report please visit http://www.strategyr.com/Orthopedic_Prosthetics_Market_Report.asp

About Global Industry Analysts, Inc.

Global Industry Analysts, Inc., (GIA) (http://www.strategyr.com) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs over 700 people worldwide and publishes more than 880 full-scale research reports each year. Additionally, the company also offers a range of over 60,000 smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.

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