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Eastern European Orthopaedic Implants Markets
Frost & Sullivan, March 2008, Pages: 105
This Frost & Sullivan research service titled Eastern European Orthopaedic Implants Markets provides a comprehensive overview of major challenges, drivers and restraints as well as the geographic trends that are influencing the orthopaedic implants market in the region. An in-depth examination of various market segments and geographic regions is accompanied by strategic recommendations to market participants. In this research, Frost & Sullivan’s expert analysts thoroughly examine the following markets: hip implants, knee implants, spine implants and upper extremity implants.
Market Overview
Ageing Population, Obesity Epidemic and Minimally Invasive Surgeries Drive Orthopaedic Implants Market in Eastern Europe
The orthopaedic implants markets in Eastern Europe are highly competitive, with modest yet steady growth rates. The markets confront challenges such as price erosion, budgetary constraints and reimbursement issues. 'However, the need for orthopaedic implants is rising due to surging obesity rates, an expanding ageing population and the rising number of minimally invasive orthopaedic procedures being performed,' states the analyst of this research. 'Significant growth in the ageing population, resulting in the increased incidence of orthopaedic ailments such as arthritis and osteoporosis, is motivating the uptake of orthopaedic implants.' For instance, 13.3 per cent and 14.7 per cent of the population in Poland and the Czech Republic, respectively, is 65 years and above. This means that there are greater incidences of age-related muscoskeletal diseases, triggering the need for orthopaedic procedures and associated implants.
The obesity epidemic in eastern Europe is also a strong market driver. Obesity rates are among the highest in the region. Research has shown that obesity contributes to osteoarthritis of the knee. This trend is spurring the use of orthopaedic implants. At the same time, minimally invasive surgeries are boosting the orthopaedic implants markets in the region, as these procedures are becoming increasingly popular and making previously traumatic implant surgeries much more patient-friendly.
Price Pressures and Cost Constraints Pose Major Challenge
Currently, price pressures and cost constraints constitute one of the most important challenges faced by market participants. Market growth will be hampered by the progressive decline in prices caused by cost-cutting measures needed to accommodate deficits in healthcare budgets. 'Cost-cutting measures are being incorporated by market participants to ensure that they can stay competitive and accommodate tight healthcare allocations by governments,' explains the analyst. 'An increase in sales, therefore, does not necessarily translate into a rise in revenues.'
To succeed and stay competitive, market participants need to build strategic alliances, make acquisitions as well as focus on product line diversification. 'Industry participants active within different segments of the market should broaden their product portfolio,' advises the analyst. 'By expanding their product portfolio, companies will be able to participate in multi-product tenders, which will help reduce costs and enable the provision of multi-modal healthcare solutions.'
Market Sectors
Expert Frost & Sullivan analysts thoroughly examine the following market areas in this research:
- Hip implants
- Knee implants
- Spine implants
- Upper extremity implants (elbow, finger, shoulder)
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