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Orthopaedic Market Report 2009
Espicom Business Intelligence Ltd, May 2009, Pages: 420
A thorough assessment of this fast growing industry with 5-year market forcasts by sector, regional assessment and extensive competitor evaluation.
Key Areas Addressed:
- Market forecasts to 2013 for the major orthopaedic sector markets
- Market share data by company for major product sectors
- Evaluation and market share of orthopaedic markets by geographical region
- Social, market and product growth drivers
- Who’s working with whom? Over 70 mergers and alliances reported
- A comprehensive review of 46 leading companies
- A thorough assessment of this fast growing industry with 5-year market forecasts by sector, regional assessment and extensive competitor evaluation
This report answers key business questions...
- What annual growth is expected for the spinal sector to 2013 and what will the US$ value be?
- Who are the leading companies in the spinal sector and what % share of the market do they have?
- Who are the emerging companies that are seeing significant double digit revenue growth, and what are the products/
- technologies which are driving that performance?
- In which geographic region is the orthopaedic market expected to grow with a CAGR of 13%?
- Since 2006 there have been 36 significant acquisitions – who bought who, for how much and which sectors were affected?
- Who are German company, co.don’s principal competitors?
The recession takes hold but performances are still impressive:
The global orthopaedic market is estimated by Espicom to have been worth approximately US$37.1 billion in 2008, following growth of 9.7% over the previous year. Excluding the arthroscopy and ‘other’ segments (operating theatre equipment and supplies), the market totalled US$29 billion, having grown by 10.7% over the previous year.
The fastest growing segments are orthobiologics, spinal and trauma, whilst the established markets for reconstruction implants and arthroscopy equipment are exhibiting more modest growth rates.
Growth continues to be fuelled by a number of factors, including the ageing population, the uptake of orthopaedic surgery at an earlier age, physiological problems due to the increasing incidence of obesity, the development of better and longer-lasting implants and materials, as well as new procedures, in particular, minimally-invasive procedures. Long-term social and demographic trends will underpin the sector’s commercial success for many years.
Spinal markets continue rapid growth as innovative companies make their mark
The spinal implant market experienced approximately 15.3% growth, to US$6.8 billion in 2008. This segment is one of the fastest-growing markets in orthopaedics, fuelled by the ageing population, treatments for younger patients, the development of better implants, materials and procedures, higher patient demand and the move from fusion technologies to motion-preserving devices. In keeping with the rest of the orthopaedic market, the spine segment will slow in 2009, to nearer 8.2%.
Medtronic is the clear market leader with over 40% market share, having bolstered its position with the 2007 acquisition of Kyphon. DePuy held a 16% share of the market in 2007, followed by Synthes on 13% and Stryker on 9%. Zimmer signalled its intent in 2008, with the acquisition of Abbott Spine, giving the company a 6% share of the market. The major spinal manufacturers have all seen their positions in the market decline in recent years as numerous new companies enter the spinal market with proprietary technology aimed at improving current surgical approaches.
Orthobiologics: beginning to deliver the promise:
The global market for orthobiologics was estimated at US$4.8 billion in 2008. This market is projected to more than double by 2013 driven by technological advances and an ageing, increasingly active population giving rise to more people aged over 60 diagnosed with musculoskeletal conditions. Stem-cell therapies are forecast to be the fastest growing category, boosted by President Obama’s decision to lift the restrictions on US federal funding for research on new stem cell lines.It is estimated that over 200 companies are developing orthopaedic biomaterials. While the large multinationals have a significant presence, the orthobiologics segment is very fragmented and is mainly inhabited by much smaller companies, many of which are development stage companies with products that have not yet received regulatory approval. The orthobiologics market is currently led by Medtronic, with an expanding orthobiologics portfolio, the lead product of which is the company’s InFUSE Bone Graft, which dominates the bone morphogenic protein market with 90+% market share.
About the Author:
In a career spanning 27 years, Ian Taylor has been involved in the creation, writing and editing of subscription services, such as Medistat, as well as contributing to many reports such as Emerging Technologies in Spinal Motion Preservation and The Global Market for Advanced Woundcare Products.
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