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Orthopaedic Markets in Western Europe 2010
Espicom Business Intelligence Ltd, Sep 2010, Pages: 104
This new report provides a complete briefing!
From demographic trends and orthopaedic hospital activity to market forecasts and the activities of domestic companies.
With many medical device and equipment sectors suffering from recessionary pressures in government and private health spending, the orthopaedics market remains strong and is expected to grow by 5% over the coming period.
In recent years the orthopaedic market has been one of the fastest growing sectors of the medical device market due to an expanding elderly population and a steady rise in the incidence of a range of musculoskeletal disorders. Although the recent economic downturn has impacted growth rates, the market is expected to continue to achieve above average growth for the medical sector as a whole due to demographic pressures and the availability of increasingly sophisticated treatments to treat musculoskeletal conditions.
Between 2004 and 2009, the market grew at an average annual rate of 6.1% in euro terms and 8.4% in US dollar terms. This compares to US dollar growth of around 6.4% for the overall medical device market. Of the major markets, Switzerland was the fastest growing, while the UK was the slowest. However, as both these markets lie outside of the Euro zone exchange rate movements have affected growth rates, particularly for the UK where the market contracted in value in 2009 both in euro and US dollar terms. Measured in Swiss Francs, the Swiss market grew at a CAGR of 10.8% between 2004 and 2009. Measured in sterling, the UK market grew at a CAGR of 9.4% in the same period.
The rising number of elderly will grow the patient population:
The orthopaedic market is set to continue to grow at a faster rate than the overall medical market, although growth over the next five years is likely to be lower than prior to 2009. The main factors fuelling the market are the rising elderly population and a corresponding increase in musculoskeletal disorders requiring orthopaedic treatment. The 65 and over age group, which has a much higher incidence of musculoskeletal problems, is growing at four times the rate of the overall population with even higher growth for older age groups. There are currently some 74 million people aged 65 and over in Western Europe and this number is expected to rise to 124 million by 2050. In the short term, growth will be even higher at an average of 1.7% per annum between 2010 and 2015 taking the 65 and over population to around 81 million in 2015.
European companies dominate:
Within the EU-15 countries, around 60% of the market is supplied by products manufactured by EU member countries, whilst 40% is imported from outside the EU, principally the USA and Switzerland. Production of orthopaedic devices by EU member countries was in the region of €3.7 billion in 2009, with artificial joints accounting for 41% of output and orthopaedic & fracture appliances 59%. Germany is the leading EU producer of orthopaedic devices followed by France and the UK. Ireland has also seen a rise in manufacturing activity in the orthopaedic sector due to the activities of several multinationals, most notably DePuy, Stryker and Zimmer.
The report provides:
For Europe...
- A comprehensive review of the orthopaedic market in 7 key western European countries
- European market estimates to 2015 for selected categories
For each market...
- Orthopaedic activity levels for cases treated in hospital and number of procedures
- Historic 5-year orthopaedic market values with projected values to 2015
- Detailed import and domestic production statistics
- Review of leading orthopaedics companies in each market covered
Individual market assessments of orthopaedics in:
- France
- Germany
- Italy
- Netherlands
- Spain
- Switzerland
- UK
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