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U.S. & Asian Markets for Orthopedic Joint Replacement
Frost & Sullivan, Jan 2005
Asian Orthopedic Joint Replacement Markets Present a Myriad of Opportunities
The largest orthopedic market, the Asian sector, offers participants immense potential with its vast patient population. This growth is expected to be propelled by the rising levels of orthopedic procedures and expertise in countries such as China and India. The escalating aging population in these regions is an added driver especially as elderly Asian women are susceptible to knee osteoarthritis compared to their Caucasian counterparts. Overall, the Asian region promises higher growth rates compared to the slower American market.
This research offers an insight into the U.S. and Asian markets for orthopedic joint replacements. The study looks at significant market challenges, restraints, drivers and trends, and competitive issues. It also provides a country-wise analysis of the orthopedic joint replacement market to present a global perspective.
Industry Consolidation Aids Cost Cutting Trend
The U.S. market has been witnessing a swell in the number of alliances, mergers, and acquisitions in the recent past. With low growth rates of the joint replacement procedures in the United States, major participants in this market are forced to drive domestic growth by capturing the market shares of their competitors, says the analyst of this research. For instance, DePuy has joined the Johnson & Johnson fold, while Howmedica and Osteonics were acquired by Stryker, and Zimmer has taken over Centerpulse.
This trend of large-scale consolidation will benefit participants in an intensely competitive market, and lower costs when pressurized by Medicare and other healthcare organizations.
Constantly Evolving Joint Replacement Technologies Help Prevent Price Erosion
With the demand for technically superior procedures rising, investment in innovation has been a constant feature in the U.S. joint replacement market. As a result, hip and knee joint replacement procedures are currently the most successful surgical procedures in recent medical history. These developments also aid participants in adding value to existing products by enhancing design and features to avoid price erosion.
Latest innovations in this field include cross-linked polyethylene acetabular cups for hip replacement to prevent implant wear, observes the analyst. The development of minimally invasive techniques for total joint replacement to hasten post-surgical rehabilitation is another accomplishment of the orthopedic community.
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