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Ageing Population and Lifestyle Changes Drive Demand for Orthopaedic Biomaterials in Europe27 June 2006
Changing demographics, particularly a rapidly aging population, together with improved longevity, are having a direct impact on the number of musculoskeletal diseases. At the same time, changing lifestyle habits are increasing the incidence of typically age-related diseases among the younger population. These trends are driving demand for orthopaedic biomaterials across Europe.
Frost & Sullivan (http://www.medicaldevices.frost.com) finds that the European Orthopaedic Biomaterials Market earned US$240.0 million in 2005 and estimates to reach US$ 609.0 million in 2012.
As Europe's population greys, it will be accompanied by a surge in age-related orthopaedic conditions and various musculoskeletal diseases. At the same time, traditionally age-related diseases such as osteoporosis and osteoarthritis will increase among the younger population due to lifestyle changes such as smoking and poor nutrition with sports or traffic injuries also claiming their toll on this group.
"The use of biomaterials has shown considerable clinical advantages and has been found to be particularly useful in a range of orthopaedic applications including synthetic bone grafts, degradable fixation, and bone fillers," says Frost & Sullivan Research Analyst Eleni Grammenou. "Orthopaedic biomaterials have also been found particularly useful in craniomaxillofacial applications."
However, the anticipated increase for orthopaedic braces and supports will be challenged by cost-containment strategies being implemented by governments. These reforms are not only affecting reimbursement levels, but are also transforming the market dynamics and competitive landscape for orthopaedic biomaterials.
"Across Europe, hospitals are being continuously faced with cost-containment issues that are, in turn, affecting purchasing trends in the orthopaedic braces and supports market," notes Ms. Grammenou. "In many cases, hospitals are considering to re-use orthopaedic braces and supports devices in an attempt to curb expenditure- a trend that will curb revenues for the industry."
To sustain market growth and leadership within this industry, manufacturers will need to invest heavily in research and development. The highly competitive nature of this industry will also lead to a number of acquisitions, and hence consolidation of this market.
Already, many smaller companies are facing the challenge of maintaining robust operations due to the high monetary investments required for research and development purposes. And with the development of leading technologies likely to be vital in maximising market share, smaller participants will find it ever harder to ensure their competitive survival.
"Close monitoring of end-user needs will benefit manufacturers in terms of clinical application and strengthen their competitive position in the market," advises Ms. Grammenou. "Addressing and exceeding customer expectations will increase sales revenue and market shares."
European Orthopedic Biomaterials Market is part of the Medical Devices Subscription, which also includes research in the following markets: European Biomaterials; Absorbables & Erodibles Market, European Enteral Feeds Market, European Physical Assessment Devices Market and, European Coronary Stents Market. All research included in subscriptions provide detailed market opportunities and industry trends. All research is evaluated following extensive interviews with market participants. Interviews are available to the press.
If you are interested in a virtual brochure, which provides manufacturers, end users, and other industry participants with an overview of the latest analysis of the European Orthopedic Biomaterials Market (B950- 54) then send an e-mail to Radhika Menon Theodore- Corporate Communications at rmtheodore@frost.com with the following information: your full name, company name, title, telephone number, e-mail address, city, state, and country. We will send you the information via email upon receipt of the above information.
Frost & Sullivan, a global growth consulting company, has been partnering with clients to support the development of innovative strategies for more than 40 years. The company's industry expertise integrates growth consulting, growth partnership services, and corporate management training to identify and develop opportunities. Frost & Sullivan serves an extensive clientele that includes Global 1000 companies, emerging companies, and the investment community by providing comprehensive industry coverage that reflects a unique global perspective and combines ongoing analysis of markets, technologies, econometrics, and demographics. For more information, visit http://www.frost.com
Contact:
Radhika Menon Theodore
Corporate Communications - Europe
P: +91-44-42044541
F: +91-44-24314264
E: rmtheodore@frost.com
Melina Trevino
Corporate Communications - Americas
P: +1-210-247-2440
F: +1-210-348-1003
E: melina.trevino@frost.com
Surbhi Dedhia
Corporate Communications - India
P: +91-22-5001-3431
E: sdedhia@frost.com
Jasminder Kaur
Corporate Communications - Asia Pacific
P: +65-68900937
E: jkaur@frost.com
Sharmin Jassal
Corporate Communications - Australia
P: +61-2-8247-8900
F: +61-2-9252-8066
E: sjassal@frost.com
http://www.frost.com
Keywords in this release: orthopaedic biomaterials, Europe, musculoskeletal diseases, biomaterials, orthopaedic applications, orthopaedic braces, orthopaedic supports, synthetic bone grafts, degradable fixation, bone fillers osteoporosis, osteoarthritis, craniomaxillofacial applications, healthcare reimbursements
Source: prnewswire
All trademarks and copyrighted information contained herein are the property of their respective owners.
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