Zimmer Biomet, Stryker Corporation, and DePuy Synthes have been the
three leaders in the global osteosynthesis devices market for 2014,
with a giant collective share in the market stood at 83.7%, according
to a research report recently published by Transparency Market
Research. The leaders in this highly consolidated market have proven
themselves through a extensive product portfolios added to a string
of successful mergers and acquisitions. For example, merger between
Johnson & Johnson or DePuy with Synthes enabled the formation of
a leading provider for osteosynthesis devices in the world.
The threat for new entrants is likely to remain moderate to low over
the coming years, according to the TMR report. The presence of very
strong players, high entry costs, and increasingly stringent
regulations and guidelines are disbarring several hopefuls to the
market. Patient compliance is becoming a core decisive element in the
preference of osteosynthesis devices by patients and healthcare
organizations, along with devices with superior safety certificates.
The research report reveals that the global market for osteosynthesis
devices is expected to reach US$11 bn by the end of 2023, after
expanding at a CAGR of 6.5% from 2015 to 2023 in revenue. This
revenue was slated to go over US$6.6 bn in 2016. Asia Pacific is
expected to be an attractive region for the supply of osteosynthesis
devices over the coming years, due to a swiftly evolving healthcare
infrastructure and growing healthcare expenditure. North America, on
the other hand, is likely to continue dominating both revenue and
demand for osteosynthesis devices for the given forecast period.
Non-degradable materials have so far been the more popular material
type for the manufacture of osteosynthesis devices till 2023 and are
likely to remain in the lead over the given forecast period by TMR.
Internal fixation devices are expected to continue being the more
popular type of osteosynthesis devices over the coming years.
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“The number of people suffering from osteoarthritis and
osteoporosis is usually found to be more common with the elderly.
This number is currently very high and is creating a large enough
demand for healthcare treatment options. For the coming years, this
number is expected to increase even further and at a very swift
alarming pace, thereby increasing the pressure of manufacture on the
global osteosynthesis market,” states a TMR analyst.
According to information and statistics provided by the globally
leading organizations in healthcare, osteoporosis is currently
attributed to induce more than 8.6 mn fractures every year across the
world. More concerning is the regular rate of increment in this
statistic, owing to the alarming rate of increase in the obese
demographic, especially in developed economies, coupled with the
growing number of road accidents and sports injuries across the
world.
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The average rate of failure in metal hip implants is 40%, which is
extremely high and needs to be addressed by osteosynthesis device
manufacturers as soon as possible. In 2010, DePuy Synthes had to
recall nearly 93,000 osteosynthesis devices and implants after being
sued for poor product quality. Eventually a settlement of US$4 mn was
reached for all patients who were inconvenienced by the faulty
implants. Situations such as these are creating a more negative image
of the leading osteosynthesis device manufacturers across the world
and have created a significant loss of credibility among consumers.
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