The global orthopedic instrumentation market is expected to exceed $47 billion by 2015, according to a report by Global Industry Analysts.
Orthopedic tissue engineering is one of the key emerging technologies in the medical industry, which is likely to continue growing in the future, according to the report. Other important trends include the expansion of biologic solutions, particularly in bone growth factors, bone graft substitutes as well as meniscus and cartilage repair products. Orthopedic device companies have also been focused on expanding technology for performing minimally invasive surgery.
The report also discusses the impact of healthcare reform on the orthopedic device market. Orthopedic devices are expected to face more intense regulatory pressure in the future, according to the report. Consolidations and acquisitions by the leading suppliers to strengthen market positions are expected. The recession has slowed the pace of growth in the global orthopedic device market because patients are postponing non-essential treatments, which has contributed to the decline in hospital capital equipment expenses.
The Asian-Pacific market is forecasted to grow the fastest at a CAGR of 9.6 percent through 2015.
Read the Global Industry Analysts report on the global orthopedic device market.
Read other coverage on orthopedic device markets:
- Millennium Research Group: Orthopedic Extremities Market to Generate $4.6B by 2015
- Millennium Research Group Outlook for Minimally Invasive Spinal Fusion Market
- Global Vertebral Compression Fracture Device Market to Reach $1.4B by 2015
Orthopedic tissue engineering is one of the key emerging technologies in the medical industry, which is likely to continue growing in the future, according to the report. Other important trends include the expansion of biologic solutions, particularly in bone growth factors, bone graft substitutes as well as meniscus and cartilage repair products. Orthopedic device companies have also been focused on expanding technology for performing minimally invasive surgery.
The report also discusses the impact of healthcare reform on the orthopedic device market. Orthopedic devices are expected to face more intense regulatory pressure in the future, according to the report. Consolidations and acquisitions by the leading suppliers to strengthen market positions are expected. The recession has slowed the pace of growth in the global orthopedic device market because patients are postponing non-essential treatments, which has contributed to the decline in hospital capital equipment expenses.
The Asian-Pacific market is forecasted to grow the fastest at a CAGR of 9.6 percent through 2015.
Read the Global Industry Analysts report on the global orthopedic device market.
Read other coverage on orthopedic device markets:
- Millennium Research Group: Orthopedic Extremities Market to Generate $4.6B by 2015
- Millennium Research Group Outlook for Minimally Invasive Spinal Fusion Market
- Global Vertebral Compression Fracture Device Market to Reach $1.4B by 2015