The US And European Markets For Orthopedic Soft Tissue Solutions Will See Moderate Revenue Expansion Through 2021
Meniscus and Cartilage Repair Markets Will Be Major Drivers of Growth, According to Millennium Research Group
TORONTO, Oct. 9, 2013 /PRNewswire/ — According to Millennium Research Group (MRG), the global authority on medical technology market intelligence, both the European and United States (US) markets for orthopedic soft tissue solutions will see moderate expansion through 2021, driven in part by favorable demographics. In particular, the expanding elderly and obese populations will lead to the increased prevalence of osteoarthritis, a condition that increases the risk of sustaining damage to joints. In addition, individuals in these countries are becoming more physically active, increasing the frequency of sports-related injuries that will require orthopedic soft tissue solutions.
“There will also be an increasing preference for premium-priced treatments for soft tissue repair,” said MRG Senior Analyst Brady Baker. “For example, higher-priced hybrid fixation devices are becoming popular for meniscal repairs, which are increasingly being performed over meniscectomies. Similarly, in the cartilage repair segment, premium-priced osteochondral allografts, such as Zimmer’s Chondrofix in the US, are strongly penetrating overall cartilage repairs. As a result, the meniscus and cartilage repair segments will see the strongest market growth through 2021.”
However, continued economic concerns in Europe have led to high levels of cost-consciousness for facilities and lower out-of-pocket spending for patients on elective procedures, including soft tissue repairs. As a result, clinical data will play a critical role in convincing physicians and patients that the added benefits of premium-priced soft tissue repair technologies are worth the additional cost. Although cost-containment measures and price competition are present in the US market as well, these factors will have less of an impact on soft tissue solution revenues because the US economy has largely stabilized.
Arthrex and DePuy Synthes were the leaders of the US and European markets, respectively. These companies offer comprehensive portfolios and have seen particular success by focusing on the large shoulder fixation markets.
Millennium Research Group’s US Markets for Orthopedic Soft Tissue Solutions 2013 and European Markets for Orthopedic Soft Tissue Solutions 2013 reports include unit, procedure, average selling price and revenue information, along with market drivers and limiters and a competitive landscape for shoulder fixation, knee ligament reconstruction, knee cartilage repair, meniscus repair and rotator cuff reinforcement grafts in the United States, France, Germany, Italy, Spain and the United Kingdom. Supplemental country coverage is also available for Austria, Belgium, the Czech Republic, Denmark, Finland, Greece, Hungary, the Netherlands, Norway, Poland, Portugal, Romania, Sweden, Switzerland and Ukraine, as well as in aggregate for the rest of the European countries.
About Millennium Research Group
Millennium Research Group (www.MRG.net), a Decision Resources Group company (www.DecisionResourcesGroup.com), is the global authority on medical technology market intelligence and the leading provider of strategic information to the healthcare sector. The company provides specialized industry expertise through multiclient market research, ongoing Marketrack(TM) projects, customer loyalty tracking, facility-level procedure forecasting, and customized solutions.
About Decision Resources Group
Decision Resources Group is a cohesive portfolio of companies that offers best-in-class, high-value information, and insights on important sectors of the healthcare industry. Clients rely on this analysis and data to make informed decisions. Please visit Decision Resources Group at www.DecisionResourcesGroup.com.
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SOURCE Millennium Research Group