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Strong demand for orthopedic implants will push the market’s growth to almost $22 billion by 2012. The 8.9% annual increase can be attributed to baby boomers, more active lifestyles, and advances in technologies, according to a study released by The Freedonia Group Inc. (Cleveland).
The strongest growth in the spinal implant segment is expected in fixation devices and artificial discs used in spinal fusion and motion preservation procedures. Knee and hip implants will take up the most of the reconstructive joint replacement sector, which should reach $9 billion in just four years.
Trauma fixation implants are anticipated to hit $3.2 billion in 2012. The 7.4% annual growth rate will stem from rising fracture injuries due to lifestyle and demographic patterns. Innovation in biotechnology and nanotechnology could push the demand for orthobiologics to reach $3.6 billion.
For more details about the implant demand, visit the Med-Tech Precision blog.
