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European orthopedic trauma devices market led by Synthes

European orthopedic trauma devices market led by Synthes


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2013-01-10 18:57:28 - European orthopedic trauma devices market led by Synthes

The European orthopedic trauma devices market hit an overall value in excess of EUR 670 million during 2011.The European orthopedic trauma devices market includes plates and screws, intramedullary nails, hip intramedullary nails, compression hip screws, cannulated screws and external fixation devices. However, due to cuts to reimbursement and a continued rise in public tendering, all of these segments were negatively affected by the European sovereign debt crisis in 2011.The strongest driver of the orthopedic trauma device market is Europe´s rapidly expanding aging population. As the elderly population grows, so do the incidence rates of osteoporosis, and in accordance, the rate of trauma-related bone injuries. The rapid rates at which the European population is aging can be attributed to a variety

 

 

of causes, one of which is a drop in the fertility rate. The combined European average is well below the natural replacement rate, which forces the standard pyramidal demographic spread to reverse and causes the oldest segments of the population outnumber the youngest. Another factor contributing to the rise of the continent´s elderly populous is a foreseeable increase in the life expectancy rate of all European countries. Estimates indicate that by 2050, there will be a rise of about six years to the average life expectancy rate of Europeans, bumping it to 86 years. Although this increased elderly population will greatly increase demand in the market, it also creates a financial burden on governments. To deal with the stresses, many European countries are seeing an increase in the amount of hospital public tendering and the implementation of tighter reimbursement structures.Although these factors force competitors to lower their prices, the overall effect of the aging population will be positive and allow for the market to continue growing at a compound annual growth rate of 4.7%.In 2011, Synthes (before its acquisition by Johnson & Johnson) held a leading share in the total European orthopedic trauma market and cemented its position as the leading competitor in all trauma market segments except for the hip IM nail and external fixation markets. The company holds the most significant share in the plate and screw market followed by the cannulated screw market. Its position can be attributed to the advanced locking plate and screw systems the company first introduced in 2002.In addition to its pioneering efforts, which allowed the manufacturer to establish and maintain its position in the plate and screw market in Europe, Synthes actively has been promoting a switch to titanium over stainless steel systems, which also helped fuel market growth. For more information on the European orthopedic trauma devices market, see the latest research: European Orthopedic Trauma Devices MarketFollow us on Twitter @CandMResearch

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