Prosthetics, Orthotics and Cosmetic Enhancement Products

Report Highlights

• The U.S. market for prosthetics, orthotics and cosmetic enhancement products is expected to increase from $6.8 billion in 2005 to $10.8 billion in 2010, at an AAGR (average annual growth rate) of 9.9%.
• Cosmetic enhancement products have a much higher projected AAGR (28.2%) than either prosthetics (5.5%) or orthotics (3.6%). As a result, cosmetic enhancement products will increase their market share to 30.3% in 2010.
• Both prostheses and orthoses are expected to lose market share, i.e., from 78.9% to 63.3% and from 8.8% to 6.4%, respectively.
• Currently, the largest-selling products are dental crowns and bridges and hip and knee implants. Products expected to show the greatest growth by 2010 include botulinum toxin dermal fillers and dental implants.

INTRODUCTION

The prosthetics, orthotics and cosmetic enhancement products industries are entering into a period of extraordinary opportunities. This is due to a convergence of technological, demographic, cultural and economic factors. Advances in materials technology, miniaturization, electronics and operative procedures are opening up many new possibilities.

At the same time, the populations of the U.S. and other advanced countries are growing older, resulting in a continual growth in the number of people suffering from physical disabilities and other conditions that medical science increasingly is equipped to ameliorate. Many of these same individuals have enjoyed unprecedented earnings during their working lives, and look forward to financially comfortable retirement years. As a result, they will have the money to spend on prosthetics, orthotics and cosmetic enhancement products, with or without the help of health insurance.

This BCC report is both a survey of products on the marketplace and a preview of things to come. The study examines market opportunities for prosthetic and orthotics devices and cosmetic enhancement products and the technologies that make possible the more advanced products that rapidly are coming into being.

SCOPE OF STUDY

The report contains:

• Discussion of major product types and applications, both commercial and developmental
• An overview of market size and segmentation, including historical data on sales by application and product type
• Market drivers and constraints
• Detailed market projections through 2010
• Analysis of industry structure, competition and market shares
• Discussion of factors that may influence the long-term market for prosthetic and orthotics devices and cosmetic enhancement products.

METHODOLOGY AND INFORMATION SOURCES

The findings and conclusions of this report are based on information gathered from manufacturers and distributors, hospitals, doctors, and other end users. Interview data were combined with information gathered through an extensive review of secondary sources such as trade publications, trade associations, company literature, and on-line databases to produce the baseline market estimates contained in this report.

The base year for analysis and projection is 2004. With 2004 as a baseline, market projections were developed for 2005 to 2010. These projections are based on consensus among the primary contacts in combination with our understanding of the key market drivers and their impact from a historical and analytical perspective. The analytical methodologies used to generate the market estimates are described in detail in the section on Detailed Market Projections.

All dollar projections presented in this report are in 2004 constant dollars.

ANALYST CREDENTIALS

The author of this report is Andrew McWilliams. Mr. McWilliams, a partner in the Boston-based international technology and marketing consulting firm of 43rd Parallel LLC, is the author of several other Communications Company studies of the health care and related industries, including: B-127R Microelectronic Medical Implants: Products, Technologies and Opportunities; B-207 Radiation-based Therapy and Therapeutic Imaging; B-159R Biosensors and Bioelectronics; C-140N, Trends in the Noninvasive and Minimally Invasive Medical Device Market and B-182 Medical Robotics and Computer Assisted Surgery Market. Two of Mr. McWilliams' other recent studies, GB-290 Nanotechnology: A Realistic Market Evaluation, and GB-329 Nanotechnology in Life Science Applications also cover applications of nanotechnology in the fabrication of high-performance, biocompatible materials for prostheses and other implanted medical devices.