Report Reserve announces addition of Orthopedic Devices Market in the Emerging Countries Report

The Orthopedic Devices Market in the Emerging Countries to Exceed $2.5 billion by 2016 Orthopedic Devices Market, Emerging countries (China, India, Brazil), Revenues ($ bn), 2009 – 2016
 
May 11, 2011 - PRLog -- Report Reserve announces addition of Orthopedic Devices Market in the Emerging Countries (China, India, Brazil) - Presenting New Avenues for Growth and Profitability Report. To access this report please visit  http://www.reportreserve.com/reportdet.php?company=GBI%20Research&reportid=28816

The Orthopedic Devices Market in the Emerging Countries to Exceed $2.5 billion by 2016

Orthopedic Devices Market, Emerging countries (China, India, Brazil), Revenues ($ bn), 2009 – 2016

Source:  GBI Research,  Secondary Research and Interviews with Industry Participants and Key Opinion Leaders

The market for orthopedic devices in the emerging countries (China, India and Brazil) is expected to grow at a Compounded Annual Growth Rate (CAGR) of 8% to reach revenues of $2.9bn in 2016. The market is expected to be driven by the large pools of elderly population in these countries along with the substantial increase in disposable income in these countries which has raised the affordability of healthcare.

Increasing Pool of Elderly Population to Drive the Growth in the Orthopedic Devices Market in the Emerging Countries

The emerging countries are home to large pools of the elderly population. Out of the total global elderly population 36% belong to the emerging countries as at June 2010. This percentage is expected to increase to 43% by 2040, making the emerging countries the largest elderly population regions.

The share of the elderly population in the total population of the respective emerging countries is also rising. The highest growth is seen in China. Here, 7% of the population was classified as elderly in 2000 which is expected to increase to 24% by 2040.

The uptake of orthopedic devices is expected to rise with the increasing elderly population as they represent the large focus group of patients affected with musculoskeletal disorders addressed by orthopedic devices.

China is the Biggest Market for Orthopedic Devices in the Emerging Countries

Orthopedic Devices Market, Country Contribution (%), 2009

Source:  GBI Research,  Secondary Research and Interviews with Industry Participants and Key Opinion Leaders

China is the largest geographical contributor to revenues in the orthopedic devices market among the emerging countries. Its orthopedic devices market was valued at $0.74 billion in 2009 which accounted for 44% of the total revenues in the emerging countries’ orthopedic devices market. China is expected to sustain the same revenue share up to 2016, growing at a CAGR of 8% between 2009 – 2016. In addition to the growing elderly population, recently introduced healthcare reforms are also forecast to drive growth in the market. Investments in infrastructure facility, expansion of insurance coverage are significant features of this reform. Investments in improvement of healthcare delivery infrastructure are expected to widen the reach of healthcare facilities, resulting in larger patient pool being treated. On the other hand, expanding insurance coverage is believed to increase the patient affordability and thus willingness, to adopt a treatment mode.   Both these are believed to be positively affecting the orthopedic devices market in China, fueling the growth in this market.

DePuy is the Leading Company in the Orthopedic Devices Market in the Emerging Countries

Orthopedic Devices Market, Emerging Countries, Company Share (%), 2009

Source:  GBI Research,  Secondary Research and Interviews with Industry Participants and Key Opinion Leaders

DePuy with a market share of 13% is the leader in the orthopedic devices market in the emerging countries. The market in these countries is highly fragmented with the presence of many small local players. DePuy maintains its leadership position  with strong dominance in segments such as joint reconstruction, orthobiologics and spinal surgery. The products offered by DePuy combine the benefit of advanced implant design with technological superiority (in terms of materials used in implant). With a major focus on high growth markets such as knee and hip replacement, DePuy is expected to remain the market leader in the future.

Joint Reconstruction to Continue to be the Largest Revenue Contributor to the Orthopedic Devices Market in the Emerging Countries.

In 2009, joint reconstruction was the largest revenue contributor to the orthopedic devices market in the emerging countries,contributing 40%. The joint reconstruction market was valued at $661m in 2009 and is expected to growth at a CAGR of 9% to reach revenues of $1.2 billion by 2016. The growth in this segment is expected to be driven by the growing elderly population requiring joint replacements, with knee and hip replacement being the key procedures.

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