Procedure growth and average selling prices to be affected into 2010, according to Millennium Research Group
WALTHAM, Mass., March 24 /PRNewswire/ -- According to Millennium Research Group's (MRG's) US Markets for Small-Joint Implants 2009 report, which includes arthroplasty implants (shoulder, elbow, digit, ankle, and wrist) and arthrodesis devices (ankle, digit, and wrist), the double-digit market growth seen in recent years will continue despite the global economic downturn. Although the current recession will reduce growth in procedure volumes and average selling prices (ASPs) through 2010, the US small-joint implant market will grow to almost $900 million by 2013.
Given the level of job loss in the US over the past several months and the subsequent loss in health care coverage, procedure growth across many implant segments will be negatively affected. Nevertheless, although a continued lack of confidence for a quick economic recovery is leading to slight deferment in small-joint procedures, growth will remain positive and will continue to increase gradually in most segments.
ASP growth for small-joint implants will also be limited as a result of the global economic slowdown. As healthcare budgets are cut by private insurers, government insurers, and hospitals, device manufacturers will be forced to adjust prices in order to maintain share.
"Once the economy recovers, numbers will pick back up. We're seeing an almost 14% compound annual growth in market revenues through 2013," says Kevin Flewwelling, Manager of the Orthopedics division at MRG. "With the COBRA act and President Obama's 65% COBRA subsidy, we expect the economic downturn to only have a minimal effect on the long-term outlook of the small-joint implant market."
MRG's US Markets for Small-Joint Implants 2009 report provides coverage of key industry competitors, including Ascension Orthopedics, Bi
|SOURCE Millennium Research Group|
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