Device markets for spine, trauma, total joint reconstruction projected to increase through 2017

A report from Millennium Research Group has predicted strong growth in Brazilian, Chinese and Indian orthopedic markets through 2017. Specifically, markets for spinal implants and bone grafts will increase to more than $3 billion and the total joint reconstruction market will increase to $4.5 billion.

“While these markets have a lot of potential, many factors will continue to hinder procedure volumes,” Rene Azeez, an analyst for the group, stated in a press release. “Poverty is still widespread, and many uninsured people lack the funds to pay for procedures out-of-pocket. Premiums remain expensive and many insurance providers are reluctant to offer coverage because of the risk involved in paying for poorly regulated health care. As a result, penetration of spinal implant and bone graft substitute procedures, as well as trauma and reconstructive joint implants procedures, will remain low compared to the United States and Europe.”

One aspect of the report cited the acquisition of Chinese medical device company Kanghui Holdings by Medtronic and the merger between Synthes and Johnson & Johnson as examples of device companies gaining footholds in local markets by purchasing local companies.

Manufacturer-sponsored training programs are another way for surgeons to adopt new treatment options and to expand the market. However, larger companies will have an advantage in this area because of the resources required to institute such programs, the report stated.

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