Global Market For Advanced Orthopedics To Be Worth $32 Billion In 2015
July 07, 2011
Wellesley, Mass. – In a recent release, ADVANCED ORTHOPEDIC TECHNOLOGIES, IMPLANTS, AND REGENERATIVE PRODUCTS (HLC052B) from BCC Research (www.bccresearch.com), the global market for advanced orthopedic technology and products was worth $28.4 billion in 2010. That value is projected to be $32.4 billion in 2015, after increasing at a five-year compound annual growth rate (CAGR) of 2.7%.
The global market for advanced orthopedics can be broken down by product into three segments – joint replacement, implant, and regenerative products; bone repair and regenerative products; and cartilage, soft tissue repair, and regenerative products.
The segment made up of joint replacement, implant, and regenerative products was valued at nearly $23.8 billion in 2010, and in 2015 should be worth $26.8 billion, yielding a CAGR of 2.4%.
The segment made up of bone repair and regenerative products, worth $3.3 billion in 2010, should rise to $4 billion in 2015, a CAGR of 4%.
The segment made up of cartilage, soft tissue repair, and regenerative products was valued at $1.3 billion in 2010 and in 2015 should be worth nearly $1.6 billion, a CAGR of 3.7%.
In the 1950s and 1960s, a shift was observed from the development of products that focused on treating injuries to developing products that replaced worn joints, bones, or soft tissues. Aiding in this shift was the emergence of new materials such as titanium and cobalt-chromium alloys, polyethylene, and stainless steel. Many orthopedic developers began to focus on “advanced orthopedics” to improve future profit margins.
While there are many conventional and less expensive orthopedic products, new items and biotechnological advancements are beginning to revolutionize future growth of the orthopedic device market. Besides new technologies, other factors driving market growth include an increasingly older population and higher incidence of injuries. There are more than 200 competitors in the advanced orthopedics market; however, there were seven companies that generated $23.5 billion in 2010, all but about 5% of the total market.
This report will be of interest to readers needing knowledge to adequately assess the advanced orthopedics market, more specifically those looking for insights into the market potentials, including trends that are and will continue to drive this segment in the future.
ADVANCED ORTHOPEDIC TECHNOLOGY, IMPLANTS AND REGNERATIVE PRODUCTS, 2008-2015
Source: BCC Research
Advanced Orthopedic Technologies, Implants and Regenerative Products( HLC052B )
Publish Date: January 2011
Data and analysis extracted from this press release must be accompanied by a statement identifying BCC Research LLC, 49 Walnut Park, Building 2, Wellesley, MA 02481, Telephone: 866-285-7215; Email: email@example.com as the source and publisher. Thank you.