Strong Growth In The US Orthopedic Extremity Device Market Will Drive Increased Competition

TORONTO, Aug. 13, 2013 /PRNewswire/ -- According to Millennium Research Group (MRG), the global authority on medical technology market intelligence, strong growth in all segments of the orthopedic extremity device market will foster increased competition and merger and acquisition activity through 2021.

(Logo: http://photos.prnewswire.com/prnh/20130103/MM36799LOGO )

The extremity device market landscape will become increasingly competitive as more companies look to capitalize on growth in this space. Given the recent saturation of the large-joint orthopedic device markets, the extremity market presents an attractive new avenue for growth. As a result, many manufacturers are increasingly investing in physician training and marketing to promote greater surgeon awareness of their products and orthopedic extremity procedures as a whole. In fact, Wright Medical Technology recently divested its lagging large-joint reconstructive implant business to Chinese manufacturer MicroPort Medical in order to focus exclusively on its extremities portfolio.

"Most major players compete in multiple segments, allowing them to offer product bundles to meet customers' demands for discounts while maintaining profit levels," said MRG Senior Analyst Mashkur Reza. "Many facilities have, however, found that they end up with a substantial unused extremity device inventory. As a result, there is an opportunity for companies to work closely with facilities to better understand their inventory needs and to design custom purchasing agreements."

Merger and acquisition activity will continue to be a prominent feature in this space. Larger companies are better positioned to cross-sell products attained through the acquisition of smaller companies. In turn, products developed by smaller companies tend to cater to niche markets, offering an attractive means for large companies to supplement their product portfolios. Examples of such activity include Wright Medical Technology's November 2012 acquisition of BioMimetic Therapeutics, giving the company potential access into the lucrative growth factor bone graft substitute market, as well as CONMED's strategic partnership with the Musculoskeletal Transplant Foundation to sell various soft tissue graft products globally.

Millennium Research Group's US Markets for Orthopedic Extremity Devices 2013 report includes procedure, unit, average selling price and revenue information, along with market drivers and limiters and a competitive landscape for reconstructive implants, trauma and osteosynthesis devices, sports medicine/soft tissue repair products and biologics used in the shoulder, foot and ankle, and hand, wrist and elbow in the United States.

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.

All company, brand or product names contained in this document may be trademarks or registered trademarks of their respective holders.

For more information, contact:

SOURCE Millennium Research Group

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED