Demand for reconstruction devices to keep climbing.
Look for the orthopedic reconstruction market to reach $14.5 billion in the next two years as America s baby boomers reach retirement age and the number of people with degenerative joint diseases continues to rise.
That projection forms the basis of a 362-page report released in April by San Jose, CA-based Global Industry Analysts Inc. According to the report, more than 70% of the devices sold worldwide through 2010 will be circulated in American and European markets. However, an increase in cases of osteoarthritis among Asian women will drive up the demand in Asia and push the compound annual growth rate (CAGR) there to 12% through 2010.
The US market for devices used to reconstruct knee joints is expected to reach $4 billion by 2010, with the number of total knee replacements performed on first-time patients swelling to 3.5 million by 2030, according to projections. That increase, according to the report, is attributed to rising demand from aging baby boomers.
In Europe, the market for hip replacement products is expected to register a CAGR of 9%. France, Germany and the United Kingdom account for more than 55% of the European market.
For more information about the Global Industry Analysts report, Orthopedic Prosthetics: A Global Strategic Business Report, visit www.StrategyR.com.
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|Title Annotation:||MARKET SNAPSHOT|
|Publication:||Orthopedic Design & Technology|
|Article Type:||Brief article|
|Date:||May 1, 2008|
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