Frost: Aging Population Drives Growth of Euro Orthopedic Implant Market
November 30, 2006 // Published as a news service by IHS
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Changing demographics are driving Europe's orthopedic implant market, according to Frost & Sullivan.
As Europe's population ages rapidly, a number of age-related conditions, including orthopedic problems, will underpin an increase in the number of implant surgeries.
Analysts said this will augment growth rates in the European orthopedic implants market.
Recent analysis from Frost & Sullivan found that the European orthopedic implants market earned revenues of $2.50B in 2005.
"In conjunction with the region's population aging, the number of arthritis problems are increasing, leading to enhanced demand for orthopedic implants," said Frost & Sullivan research analyst Harini Subramani.
"Moreover, sports-related injuries among the younger population group are acting as a major driver in market expansion."
Analysts said reimbursement and cost pressures pose the biggest challenges to market growth. Health care budgetary constraints are also affecting the manufacturers and creating a tense market situation.
"Across Europe, there is a downward pressure to cut costs," said Subramani. "But given the fixed costs of manufacturing implants, it is difficult to do so. Over time though, cost pressures are expected to dissipate and the market will reach a more stable position."
To expand their market share and enhance the efficiency of their production line, analysts said manufacturers should enter into collaborations with other market participants. The outcome in terms of improved product offerings should promote goodwill among patients and hospitals.
Source: Frost & Sullivan.