CHAGRIN FALLS, Ohio, May 30, 2013 /PRNewswire/ -- Orthopaedic product sales exceeded $43 billion in 2012, a modest increase of 3% or $1.2 billion over 2011, according to ORTHOWORLD®, trusted authority on orthopaedic market intelligence. Segments contributing greatest growth included trauma at $6.1 billion and sports medicine at $4.2 billion. Spine posted negative growth, while hips, knees, extremities and orthobiologics posted growth in the low-single digits.
Nine of the top ten orthopaedic device companies posted year over year growth, with NuVasive added to the lineup due to Johnson & Johnson/DePuy's acquisition of Synthes. "This decade has been marked by slowing growth, and orthopaedic companies continue to seek strategies and tactics to balance the effects of intense change spurred by political, economic and social powers," commented Julie Vetalice , lead contributor to the report.
ORTHOWORLD asserts that industry is gaining traction in the new environment, as evidenced by increased utilization of resources outside the U.S., investments in data collection, exploration of new sales and distribution models, nurturing of supplier partnerships up and down the supply chain and the continued emergence of generic and lower-cost offerings. "Year over year growth slowed to mid- and low-single digits beginning in 2008, but the market is growing and is expected to do so for the foreseeable future," added Mrs. Vetalice.
The 175-page ORTHOPAEDIC INDUSTRY ANNUAL REPORT® expands upon 2012 company performance and key industry dynamics in segments focusing on joint replacement, trauma, sports medicine, spine, computer-assisted surgery and orthobiologics. A directory of every known orthopaedic device company in the world appears in the Appendix.
To own a copy of the ORTHOPAEDIC INDUSTRY ANNUAL REPORT, visit www.orthoworld.com or contact:
Michael E. Casey
Founded in 1992, ORTHOWORLD is a highly specialized publishing firm offering strategic intelligence, integrated advertising and educational conferences exclusively to the global orthopaedic market. Its singular mission is helping orthopaedic companies and individuals improve their performance.
|SOURCE ORTHOWORLD Inc.|
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