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European Orthopaedic Biomaterials Markets
Frost & Sullivan, June 2006
This Frost & Sullivan research service titled European Orthopedic Biomaterials Markets provides an overview of key market challenges and drivers. It also includes market forecasts and provides strategic recommendations for vendors. This research offers a description of the existing competitive structure and analyses important trends that affect market performance. In this research, Frost & Sullivan's expert analysts thoroughly examine the following markets/applications/technologies: bone substitutes, degradable fixation and orthobiologics.
Benefits of this Service
- Market metrics
- Decision support databases
- Strategic Recommendations
- Existing competitive structure
Market Sectors
Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research:
By Application:
- Bone Substitutes
- Degradable Fixation
- Orthobiologics
Technologies
The following technologies are covered in this research:
- Biomaterials: Biomaterials are inorganic or organic natural or synthetic materials placed in the body, and are used to interface with biological systems to treat, amplify or replace any tissue, organ, or function of the body
- Orthopedic biomaterials: Orthopaedic biomaterials can be implanted into or near a bone fracture to facilitate healing or to compensate a lack or loss of bone tissue. The materials used in orthopaedic surgery include ceramics, polymers, metals such as stainless steel, cobalt-chromium and titanium and the shape memory alloy NiTi, as well as re-absorbable materials such as bioglass, various modifications of hydroxyapatite and bone grafts.
Market Overview
Clinical and Cost Benefits to Create Greater Demand for Orthopedic Biomaterials
The significant rise in musculoskeletal diseases as a result of the increasing ageing population, combined with the growing incidence of osteoporosis and osteoarthritis are contributing to the enhanced use of orthopedic biomaterials in Europe. Accordingly, orthopedic biomaterials are finding use in craniomaxillofacial as well as orthopedic applications including synthetic bone grafts, degradable fixation and bone fillers. Clinical and cost advantages, the increase in biocompatibility as well as the benefit of improved recovery time are expected to support continued market growth. Hence, revenues in the orthopedic biomaterials market are anticipated to grow from $240.0 million in 2005 to $609.0 million by 2012.
Rising expectations of improved-quality medical care and the rise in the number of medical breakthroughs are resulting in spiralling healthcare costs. As a result, governments are pursuing cost-reduction strategies to ensure sufficient allocation of funds towards healthcare services. However, the strategies implemented by governments are affecting the level of reimbursements for orthopedic biomaterials, says the analyst of this research service.
Increased R&D Investments Essential to Boost Product Innovations
In keeping with continued healthcare reforms and the present reimbursement budgets, market participants need to minimise costs. As the market is becoming increasingly competitive, price, service and product performance will become crucial factors for success. It is envisaged that in the near future, the competitive nature of the market will stimulate the development of innovative products and services as well as investments in capital and human resources. Hence, it will become essential for smaller companies to invest in the development of leading technologies to improve their market share, says the analyst. In the context of clinical applications, manufacturers will also need to closely monitor end users’ needs to address their expectations and improve their market presence.
At present, manufacturers are expressing concern over the scope, validity and enforceability of patents for product innovations and other proprietary rights held by third parties. Hence, ensuring the enforcement of patents and intellectual property laws will become vital. Clearly, market success will depend on a company’s ability to obtain the intellectual property and regulatory approval prior to other competitors, which will assist in optimising sales to gain a crucial competitive edge in the market.
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