Orthopedic Prosthetics: A Global Strategic Business Report
San Jose, CA (Vocus/PRWEB) January 19, 2011
The economic meltdown slowed down the pace of growth in the global hip and knee implants market during 2008 and 2009. Growth was affected due to dampened procedural demand, as patients opted to delay surgery until after the recession. Long-term growth in the hip and knee replacement market is expected from the growing awareness levels about the procedure, favorable reimbursement scenario, and increasing familiarity of surgeons with the procedures. Developing nations, such as India, China and Latin American countries, offer immense growth potential for orthopedic companies owing to their steady economic growth, and the presence of large elderly population. The development of advanced prosthetic implants involving better fixation, cementless design and wear-resistant material is also enhancing growth prospects in the industry. Budgetary constraints and the increasing demand from developing countries are expected to foster the development of low cost, limited function orthopedic implants.
The United States and Europe collectively account for a major share of the global market, as stated by the new market research report on Orthopedic Prosthetics. The recession affected growth prospects in the European reconstructive (hip and knee implants) market, as patients opted to defer minor as well as major surgeries, thereby impacting revenue generation in the prosthetic devices and the overall orthopedic market. However, the industry is likely to overcome the adversities and register growth driven by developing advanced devices, such as bio-absorbable structures. The increasing desire of consumers to maintain active lifestyle is also contributing to a rise in demand for less invasive and bone preserving technologies. The under-served markets of Russia and Eastern Europe offer potential growth opportunities for companies operating in the European market.
Rapid technological advancements in the hip prosthesis market are contributing to the development of improved implant materials and devices, featuring better design and offering longer life. Minimally invasive surgical techniques are gaining popularity for performing hip replacement surgeries, thereby enabling patients to maintain active lifestyle. The growing popularity of hip arthroplasty procedures among younger patients is also enhancing prospects in the global hip implants market. Latin America is poised to witness the fastest growth in the hip prosthesis market, increasing at a compounded annual growth rate of over 8.5% over the analysis period. In the United States, sales of knee prosthesis are driven by a shift towards differentiated devices, and the growing popularity of knee replacements in younger patients.
Zimmer, DePuy, Stryker, Biomet and Smith & Nephew are the leading manufacturers in the global hip and knee implants markets. In addition to the global leaders, the hip and knee implants market also involves the participation of local manufacturers, particularly in Asian countries such as Japan, China, and Australia commanding a significant presence due to their extensive distribution networks. Major players profiled in the report include AAP Implantate AG, Aesculap Implant Systems, Inc, Biomet Inc., Corin Group PLC, DePuy Orthopedics Inc., Finsbury Orthopaedics Limited, DJO Surgical, Exactech Inc., Smith & Nephew Plc, Stryker Corporation, Tornier, Wright Medical Group Inc., and Zimmer Holdings Inc.
The research report titled “Orthopedic Prosthetics: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a strategic review of the industry, key market trends, recent product innovations, recent industry activity, and profiles of key market participants. The report provides annual sales estimates and projections the years 2007 through 2015, and 2000 to 2006 by the following geographic markets - US, Canada, Japan, Europe, Asia-Pacific, Latin America, and Rest of World. Key segments and sub-segments analyzed include Hip Prosthesis, Knee Prosthesis, and Secondary Joint Prosthesis (Shoulder and Others).
For more details about this comprehensive market research report, please visit – http://www.strategyr.com/Orthopedic_Prosthetics_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) 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 800 people worldwide and publishes more than 1200 full-scale research reports each year. Additionally, the company also offers thousands of smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.
Global Industry Analysts, Inc.
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