Based on market analysis report, here are six markets that are expected to grow over the next few years.
1. Spinal nonfusion and artificial disc market. The spinal implant market is expected to flatten over the next few years, but the nonfusion and artificial disc market will most likely grow during that time. According to a July Millennium Research Group report, the biggest players in the nonfusion and artificial disc markets will be Globus Medical, LDR Spine, NuVasive and SpinalMotion. The spinal implant market experienced a 3 percent decrease in 2010, primarily due to cost pressures.
2. Bone graft substitute market. A report released last September from the MGR projected the bone graft substitute market to reach $2.3 billion by 2015. New products from companies such as BioMimetic Therapeutics, NuVasive, Orthofix and AlloSource are expected to experience success in the market — all of which have products with stem cell technology to promote cell growth and bone healing. According to a recent Global Pipeline Analysis report, Medtronic currently leads the bone graft substitute market with 44 percent market share, driven by its controversial bone morphogenic protein product, Infuse. The product has recently come under scrutiny in the spine community and the implications of this scrutiny are yet to be determined.
3. Extremities market. Even with the economic downturn, a January MRG found that the extremities market is expected to grow in excess of 10 percent over the next four years. Last year, the leaders in the market were Arthrex, DePuy, Smith & Nephew, Stryker, Synthes and Zimmer, but additional companies such as Small Bone Innovations and Tornier are expected to carve out market share as well.
4. Global shoulder market. The global shoulder replacement market is expected to grow at a nine percent compound annual growth rate over the next five years to reach $1.06 billion by 2016, according to a Sept. 2010 GlobalData report. This increase could occur due to surgeon familiarity with shoulder replacement and more patients with a desire to maintain an active lifestyle despite injuries or painful shoulder conditions.
5. Global instrumentation market. According to a Global Industry Analysis report, the orthopedic growth in the instrumentation market is expected to exceed $47 billion over the next four years. Orthopedic and spine device companies are focused on expanding technology lines for physicians performing minimally invasive procedures and biologic solutions for orthopedic conditions, according to the report.
6. Trauma fixation market. The trauma fixation market is expected to grow at a compound annual growth rate of 6 percent through 2016, reaching $6.6 billion, according to an Oct. 2010 GlobalData report. Stryker, Synthes, DePuy, Smith & Nephew and Zimmer are expected to lead the market, releasing products with new materials such as stainless steel, titanium and bio-absorbable materials to reduce the cost of surgery. Anatomically designed products may also become popular because they are associated with a procedure time reduction, according to the report.
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2. Bone graft substitute market. A report released last September from the MGR projected the bone graft substitute market to reach $2.3 billion by 2015. New products from companies such as BioMimetic Therapeutics, NuVasive, Orthofix and AlloSource are expected to experience success in the market — all of which have products with stem cell technology to promote cell growth and bone healing. According to a recent Global Pipeline Analysis report, Medtronic currently leads the bone graft substitute market with 44 percent market share, driven by its controversial bone morphogenic protein product, Infuse. The product has recently come under scrutiny in the spine community and the implications of this scrutiny are yet to be determined.
3. Extremities market. Even with the economic downturn, a January MRG found that the extremities market is expected to grow in excess of 10 percent over the next four years. Last year, the leaders in the market were Arthrex, DePuy, Smith & Nephew, Stryker, Synthes and Zimmer, but additional companies such as Small Bone Innovations and Tornier are expected to carve out market share as well.
4. Global shoulder market. The global shoulder replacement market is expected to grow at a nine percent compound annual growth rate over the next five years to reach $1.06 billion by 2016, according to a Sept. 2010 GlobalData report. This increase could occur due to surgeon familiarity with shoulder replacement and more patients with a desire to maintain an active lifestyle despite injuries or painful shoulder conditions.
5. Global instrumentation market. According to a Global Industry Analysis report, the orthopedic growth in the instrumentation market is expected to exceed $47 billion over the next four years. Orthopedic and spine device companies are focused on expanding technology lines for physicians performing minimally invasive procedures and biologic solutions for orthopedic conditions, according to the report.
6. Trauma fixation market. The trauma fixation market is expected to grow at a compound annual growth rate of 6 percent through 2016, reaching $6.6 billion, according to an Oct. 2010 GlobalData report. Stryker, Synthes, DePuy, Smith & Nephew and Zimmer are expected to lead the market, releasing products with new materials such as stainless steel, titanium and bio-absorbable materials to reduce the cost of surgery. Anatomically designed products may also become popular because they are associated with a procedure time reduction, according to the report.
Related Articles on Device Industry Trends:
7 Critical Orthopedic and Spine Device Industry Trends
Orthopedic and Spine Device Industry Post-Reform: 6 Challenges
Orthopedic Device Trends: Q&A With Marc Viscogliosi of Viscogliosi Brothers