Advanced Orthopedic Technologies, Implants and Regenerative Products
The total market for advanced orthopedic technology and products was estimated to exceed $28 billion in 2010. New technologies and an increasingly older population are two of the major driving forces within the market. By 2015, the advanced orthopedic technology and product market is likely to reach $32.4 billion, with a compound annual growth rate (CAGR) from 2010 to 2015 of 2.7%.
SCOPE OF THE REPORT
This study will be a helpful business tool providing a thorough evaluation of the advanced orthopedic market. Its geographic scope is global with special emphasis on the United States and the European Union. The report identifies markets in three general segments:
- Bone repair and regenerative products
- Cartilage and soft tissue repair and regenerative products
- Joint replacement, implants, and regenerative products.
Each market segment provides detailed information based on product categories, product use, forecasts, and competitive analyses.
Advanced orthopedics deals with those products involving new techniques and therapies. They provide a significant patient outcome over traditional methods, as well as improving healing and lowering overall care costs. These products incorporate biotechnological advancements and improved methods for dealing with orthopedic injuries and conditions.
Products in this study are considered to be at the forefront of orthopedic device technology. Products not considered advanced include external bracing, slings, casting materials etc. Those classified by industry experts as advanced orthopedic products include: human bone products and materials, bone growth stimulators, synthetic bone replacements, cartilage and soft tissue fixation systems, biologics/biomaterials, complex joint replacement devices, spine devices, and joint fluid replacements.
ABOUT THE AUTHOR
Melissa Elder is an experienced healthcare market analyst specializing in prescription and over-the-counter pharmaceuticals, medical devices, and emerging healthcare technologies. Ms. Elder has more than 15 years experience in the healthcare industry, specializing in market research for the past 12 years. This experience has given her substantial insights into pharmaceutical market analysis. Her work in the medical community, including emergency room medical training and healthcare information system coordination, has enhanced her ability to provide insight into many healthcare markets.
The total market for advanced orthopedic technology and products was estimated to exceed $17.5 billion in 2006, up 11.7% from $15.7 billion the previous year (2005). By 2012, the advanced orthopedic technology and product market is likely to reach $31.9 billion, with average growth estimated at 10.3%.
Worldwide, the bone repair and regenerative product market has increased at a rate of 19% to 22% annually over the past several years. In 2006, the market experienced a 22% increase over the $910 million in 2005 to reach $1.1 billion.
Worldwide, the total joint replacement, implant and regenerative product markets generated approximately $15.8 billion in 2006, an increase of 11.4% over $11.2 billion estimated for 2005.