MOUNTAIN VIEW, Calif., Dec. 9, 2014 /PRNewswire/ -- Although the macroeconomic environment is significantly affecting procedural volumes in the mature orthopedic implant market, adoption in emerging regions will spur revenue in the coming years.
Growing aging populations and rapid urbanization is strengthening the consumer base for lower-priced joint reconstruction as well as trauma implants among the middle class in these emerging regions. New analysis from Frost & Sullivan's Analysis of the Global Orthopedic Implant Market finds the market earned revenue of $34.00 billion in 2013 and estimates this to reach $45.36 billion in 2021.
For complimentary access to more information on this research, which spans joint reconstruction, trauma, spine and orthobiologics, please visit: http://bit.ly/1sdClrT
"The trend towards customizable medicine is growing as physicians and patients push for improved outcomes and a more comfortable product fit," said Frost & Sullivan Healthcare Research Analyst Tara Shelton. "Advancements in orthobiologics, particularly in developed countries, will drive the trend towards personalized implants."
Despite this progress, the market in developed countries still faces challenges:
"Orthopedic implant manufacturers must identify novel products that offer interoperability and connectivity, adding value to hospital, physician, and patient," urged Shelton. "It is crucial to expand minimally invasive surgery portfolios through inorganic growth in order to meet widening customer and physician demands."
In fact, mergers and acquisitions have been one of the main pillars of growth over the last three years. Going into 2015, consolidation and high-profile acquisitions will remain prominent in the global orthopedic implant market.
Analysis of the Global Orthopedic Implant Market is part of the Advanced Medical Technologies (http://www.medtech.frost.com) Growth Partnership Service program. Frost & Sullivan's related studies include: Global Wound Care Market Outlook, Global Endoscopy Devices Market, and US Cardiac Ablation Market. All studies included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.
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Analysis of the Global Orthopedic Implant Market
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