TORONTO–(BUSINESS
WIRE)–According to Millennium Research Group (MRG), the global authority
on medical technology market intelligence, the US market for orthopedic
biomaterials will grow at an average of just under seven percent per year, to
total approximately $4 billion by 2016.
While the number of procedures using orthopedic biomaterials
will grow significantly through 2016, lower reimbursement rates from insurers
will limit average selling prices. In addition, Medtronic Spinal &
Biologics INFUSE, still the highest revenue-generating product in 2011, faces
challenges associated with negative reports on off-label use, which made up a
significant portion of the products use. This will have a continued negative
effect on the market as a whole. Companies are seeking ways to stay
competitive.
“Larger companies involved in the orthopedic biomaterials
space and the US healthcare market at large, have struggled to find ways to
extend their growth organically because of the economic challenges,” said MRG
Analyst Mashkur Reza. “As a result, some of these companies, such as Sanofi,
have looked at merger and acquisition strategies to enter growing segments,
while others, such as Johnson & Johnson, continue to use merger and
acquisition strategies to complement its product portfolio in segments it
competes in. Both of these are legitimate strategies to foster additional
growth.”
In addition to a continued rise in procedure volumes, the
market will see increased demand for premium-priced products seen as having
more favorable properties. These include second-generation synthetics, such as
Vitoss BA, and orthopedic stem cell products, such as Osteocel, within the bone
graft substitutes market, along with 1-injection treatments in the HA
viscosupplementation market, such as Synvisc-One. The HA viscosupplementation
market will show the strongest growth through 2016, as rising awareness coupled
with the 2012 launch of two 1-injection products (Seikagakus Gel-One and Anika
Therapeutics Monovisc) will strengthen demand for these premium-priced
products.
Millennium Research Groups US Markets for Orthopedic
Biomaterials 2012 report includes procedure, unit, average selling price and
revenue information, along with market drivers and limiters and competitive
landscape for bone graft substitutes, hyaluronic acid viscosupplementation,
machined-bone interbody devices, cell concentration systems and knee cartilage repairs.
About Millennium Research Group
Millennium Research Group (www.MRG.net), a Decision Resources Group company (www.DecisionResourcesGroup.com), is the global authority on
medical technology market intelligence and the leading provider of strategic
information to the healthcare sector. The company provides specialized industry
expertise through multiclient market research, ongoing Marketrack™ projects,
customer loyalty tracking, facility-level procedure forecasting, and customized
solutions.
About Decision Resources Group
Decision Resources Group is a cohesive portfolio of companies that offers
best-in-class, high-value information, and insights on important sectors of the
healthcare industry. Clients rely on this analysis and data to make informed
decisions. Please visit Decision Resources Group at www.DecisionResourcesGroup.com.
Posted by Sean Fenske, Editor-in-Chief, MDT
