Stryker, DePuy and Zimmer Inc Compete For Market Share in the Global
Author : Public Relation & News
About 25 in every 1000 people opt for an orthopedic surgery due to osteoarthritis. Such high incidence coupled with aging population and increasing awareness among people; is driving the growth of the global orthopedic devices market. Among the seven segments covered in the report, spinal devices are observed to be the fastest growing segment with a CAGR of 9.3% duringthe study period. Smart implants, customized implants, and tissue engineering have been identified as the future of orthopedics.
Continuous innovations in the implants technologies have helped the orthopedic industry to maintain a steady growth of 7% to 10% over the last decade and this trend is expected to continue in the years to come. Innovations in the design and efficiency of the equipment for spinal, hip, and knee replacement such as introduction of customized implants, smart implants with advanced sensors for real time data transfer, metal-on-metal, and metal-on-ceramic implants have helped to maintain the growth momentum. In future, novelties in the field of customized implants for individual needs, smart implants with microprocessors to deliver real time feedback, and other tracking devices are further expected to create niche segments for these technologies. In addition, tissue engineering and gene therapy techniques are going to add potential customers looking for preventive, rather than curative measures.
The orthopedic devices market in developing countries can be segmented based on features and prices. Tier 1 and tier 2, or the high-mid end segment is dominated by MNCs such as Stryker, DePuy, and Medtronic; whereas local manufacturers such as China-based Changzhou Waston Medical Appliance Co. or India-based GPC Medical Ltd compete in tier 3 or low end segment of the market. Bulk of the value and volume sales come from the mid-low end segment.
The U.S. contributes about 60% of the global orthopedic devices market, whereas emerging economies such as India and China offer immense growth opportunities due to medical tourism and huge untapped patient population. Stryker (U.S.), DePuy (U.S.), Zimmer Inc (U.S.), Smith & Nephew (U.K.), Medtronic (U.S.), Synthes (U.S.), and Biomet (U.S.) are the key players in this market.
This report forecasts the size of global orthopedic devices market from 2011 to 2016. The report analyzes key trends of the market, and segments the global orthopedics market by components and into various geographic regions and provides the market size of each of these regions. It also discusses the key market drivers, restraints, and opportunities of the market and its sub-markets. The report also provides profiles of over 40 key players with more than 100 market data tables.
Scope of the report
Global Orthopedic Devices Market research report categorizes the global market on the basis of devices, and geography; forecasting revenue, and analyzing trends in each of the following submarkets:
On the basis of devices:
Orthobiologics, joint reconstruction, spinal devices, trauma fixation devices, arthroscopic devices, orthopedic accessories, and orthopedic braces and support system
On the basis of geography:
North America, Europe, Asia, and Rest of the World
May 17, 2013 - Many women aren’t content to just raise their arms and scream in a fit of jealously over Michelle Obama's famously sleek, muscular-looking arms. Instead, they are visiting Latin and South American countries, where medical tourists can undergo arm lift p
May 15, 2013 - Actress Angelia Jolie proved she was willing to go to any length to reduce her elevated risk of breast cancer.
May 13, 2013 - Turkey’s economy is getting a facelift, a hair-raising procedure of sorts that is not only sprouting the growth of whiskers above the upper lip, but profits in the country’s booming medical tourism sector as well.
May 10, 2013 - As Turkey tries to boost tourism revenues and narrow its account deficit, the government is aiming to capitalize on the number of visitors who are willing to combine medical treatments with a short vacation.
December 10, 2012 - South Korea is keen to promote its medical tourism, as the country is one of the fastest growing nations in this sector. To promote Korea as one of the world's most competitive medical tourism destinations, KTO showcased its expertise in Abu Dhabi.
December 3, 2012 - An expert in medical tourism, Dr. Ufuoma Okotete, has said Nigeria loses N81 billion annually to medical tourism. She said an average air ticket to India cost about N250, 000,the Indian High Commission in Lagos issues about 40 medical visas per day.
November 9, 2012 - The government is looking to delve into stem cell research with the creation of a special task force designed to review the controversial treatment and offer recommendations on its use in the Bahamas.
September 21, 2012 - That said, the report also analyses the growth strategies being employed by the country to continue to attract arrivals, including airport and port expansions, as well as continued efforts to remain an eco-tourism destination.
September 13, 2012 - There is great scope for medical tourism between Pakistan and India, especially in the domains of children’s cardiac surgery and liver transplants, eminent hematologist and transplant physician Dr Tahir S Shamsi told The News on Monday.
September 11, 2012 - Increasing numbers of Russian visitors are coming to Finland for cancer treatment, perinatal services, surgery and dental care. The demand for Finnish health services, especially from Russian visitors, has been growing rapidly in recent years.