Increased use of premium-priced products, including resurfacing hips and alternative bearing surface components, boosting growth, according to
Millennium Research Group
WALTHAM, Mass., March 3 /PRNewswire/ -- Millennium Research Group (MRG) estimates that the US large-joint reconstructive implant market grew almost 10% in 2007. Data from MRG's US Orthopedic Reconstructive Marketrack(TM) indicates that an uptake in higher-priced products, such as resurfacing hip implants and alternative bearing surface components, contributed to overall market growth. Premium product adoption was boosted by healthy procedural growth, further fueling revenues.
Use of resurfacing hip implants, which cost more than conventional hip implants, doubled in 2007. Additionally, alternative bearing surface technologies such as metal-on-metal hip components are increasing the average selling price (ASP) of hip components. Metal-on-metal acetabular components had an ASP nearly 25% higher than conventional poly components in 2007.
"Due to chronic athletic injuries, more people are receiving hip and knee implants at a younger age, increasing the likelihood of patients outliving their first implant," says Philip Scrutton, Analyst at Millennium Research Group. "Many patients are demanding solutions that will allow them to maintain an active lifestyle. Resurfacing implants are considered less invasive and preserve more bone, easing a revision procedure should one become necessary. Metal-on-metal components have the lowest wear rates among bearing surfaces, leading to longer implant life."
Millennium Research Group will be attending the American Academy of Orthopedic Surgeons annual meeting in San Francisco from March 5-7. Come to booth #1059 to discover how we can help you meet your needs.
About Orthopedic Reconstructive Marketrack(TM)
US Orthopedic Reconstruction Marketrack(TM) gathers quarterly data from orthopedic operating rooms across the US. Marketrack(TM) subscribers receive thousands of data points, including usage (units, average selling price, and revenue), procedure, competitor, and device brand information.
About Millennium Research Group
Millennium Research Group (http://www.MRG.net), a Decision Resources, Inc. company (http://www.DecisionResources.com), is the global authority on medical technology market intelligence and a leading provider of strategic information to the health care sector. Focused solely on the medical device, pharmaceutical, and biotechnology industries, the company provides its clients with the benefits of its specialized industry expertise through published reports and customized consulting services.
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|SOURCE Millennium Research Group|
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