The global
osteosynthesis devices market has been anticipated in a report by
Transparency Market Research (TMR) to demonstrate a highly
consolidated nature owing to a large string of mergers and
acquisitions. As a result of a significant number of mergers and
acquisitions, there has been a birth of extensive product portfolios.
This could be evident with the formation of a leading player for
osteosynthesis devices because of the acquisition of DePuy Synthes by
Johnson & Johnson. DePuy Synthes, Stryker Corporation, and Zimmer
Biomet had secured a gigantic share of the market in the recent
past.
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In 2016, the global
osteosynthesis devices market had been slated by TMR to cross a
US$6.6 bn valuation in terms of revenue. However, while rising at a
6.5% CAGR during the completion of the forecast tenure 2015-2023, it
has now been envisaged to touch an US$11.0 bn by the end of 2023.
Considering their long history of application in orthopedic implants
and osteosynthesis devices, non-degradable materials could take the
driver’s seat of the market for the coming years. Geographically,
the market has been projected to secure the lead in the market to
collect a US$4.7 bn by the final forecast year.
The world
osteosynthesis devices market has been foreseen by seasoned analysts
to gain from rising manufacturing pressure due to the alarming and
swift rise of osteoporosis and osteoarthritis. The elderly are among
the hot population groups mainly affected by these diseases, and the
number of aged patients is increasing as per latest findings. As this
number increases, the demand for healthcare treatment options that
engage osteosynthesis devices has been prophesied to surge
proportionately.
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Overview @
http://globenewswire.com/news-release/2017/12/21/1268754/0/en/Osteosynthesis-Devices-Market-Value-to-Reach-US-11-billion-by-the-End-of-2023-Transparency-Market-Research.html
Annually, there
could be nearly an over 8.6 mn fractures caused around the world due
to osteoporosis, as per statistics provided by top healthcare
organizations. Regular rise of this statistic because of the strong
prevalence of obesity has created a tensed environment especially in
developed countries. Besides obesity, this statistic has been
expected to inflate on the back of the rising count of sports
injuries and road accidents.
The creation of a
negative image of osteosynthesis devices manufacturers before
consumers as a result of poor product quality has been envisioned to
cut down the demand in the coming years. Thousands of osteosynthesis
devices and implants had been recalled by DePuy Synthes in the past.
Faulty implants that caused inconvenience to patients led to a
settlement of close to US$4.0 mn. Moreover, metal hip implants
account for an average 40.0% failure rate, which is dangerously high
and needs to be addressed by manufacturers in quick time.
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However, the
international osteosynthesis devices market has been expected to find
opportunities created with the introduction of products bearing
superior safety certificates. Such improvised devices could increase
demand in healthcare organizations and win the preference of patients
in the near future.
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