Global Orthopaedic Market Focus on Hip and Knee Replacement.pdf
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1、 Global Orthopaedic Market Focus on Hip and Knee Replacement Edition: Jan 04, 2010 Table of Contents 1. Global Orthopaedic Market: An Overview . 4 1.1 Global Orthopaedic Market by Product Segmentation 5 1.2 Global Orthopaedic Reconstruction Market 6 2. Joint Reconstruction and Implant Market Growth
2、Analysis 7 2.1 Hip and Knee Reconstruction Market 7 2.2 Global Knees Market Demand. 9 2.3 Global Hips Market Share . 10 3. Orthopaedics Market- M these three markets represent about 70% of the total orthopaedic reconstruction and trauma market or US$16 billion in 2008. The Total Reconstructive marke
3、t is growing about 10% y/y. Joint reconstruction products (primarily hip and knee replacement systems) are the largest market segments in orthopedics, accounting for approximately 43% of total sales. Spine and trauma/craniomaxillofacial (CMF) implants are the second and third largest product segment
4、s in orthopaedics at 22% and 17% of total sales, respectively. Figure 1.2: Global Orthopaedic Market by Product Segments in 2008 43% 22% 17% 9% 9% Joint ReconstructionSpineTrauma enabling the hip and knee market to achieve 3.2% internal growth for the year. Price growth was negative throughout the y
5、ear 2009 and so as market growth. In 2010, the further improvements in units/mix is expected giving a stable worldwide pricing growth (in the negative 1-2% range), helping the market return to mid-single digit growth rates. There are many expectations from 2010 after a setback in 2008 and 2009. Unit
6、ed States is the largest market for joint replacement, while at present it is affected by the macro economic factors, resulted lower in industry revenues. In United States, Hip and knee replacement surgeries are the most on demand operations and with the rising number of replacement procedures, new
7、product inventions are taking place. In 2005, there were approximately 750,000 U.S. hip and knee replacements performed representing a 70% increase over a five-year period (2000-2005). Escalating demand is expected to continue from patients seeking improved quality of active life. The obesity epidem
8、ic and need for revision surgery have additional implications. According to industry experts, by 2030 the demand for primary and revision hip replacements is projected to more than double, while the demand for primary and revision knee replacements is projected to increase more than 600 percent. The
9、 U.S. market for implants reached US$5 billion in 2005 double what it was in 2002. 2.2 Global Knees Market Demand The knee market has a strong influence over the total orthopaedic market with continuously growing number of knee replacement cases. In terms of demography, more women are suffering from
10、 knee pain than man due to calcium deficiency and with increasing age it grows. With higher underlying demographics, and more favourable product mix from premium priced mobile bearings, revisions and unicompartmental products, the knee market has continued to grow above the hip market for the last s
11、everal years. The global knee market is the largest of the orthopaedic sector, with 2008 sales close to US$6.4 billion. Zimmer leads the knee market with a 27.4% share, followed by J minimal invasive procedure demand is high in this age group as they look for cost and time effective solutions. 4.2 I
12、ncreasing Rate of Joint Replacement Surgery in United States In United States, Orthopaedic implant companies are benefiting from increasing rate of joint replacement surgeries within the population. In the United States, the rate of joint replacement procedures per 10,000 people has increased 6.2% a
13、nnually from 10 in 1990 to 25.9 in 2006. From a product segment standpoint, surgery rates increased faster for knee replacement than hip replacement. In total, the rate of knee replacement procedures per 10,000 people increased 8.2% annually from 5.2 in 1990 to 18.2 in 2006 while the rate of hip rep
14、lacement procedures per 10,000 people increased 3% annually from 4.8 in 1990 to 7.7 in 2006. Figure 4.1: U.S. Hip and knee Replacement Procedures (1990-2008) 0 5 10 15 20 25 30 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 Rate of Procedure per 10,000
15、 people Hip and knee Replacement Hip Replacement Knee Replacement Source: National Hospital Discharge Survey The rising rate of procedure demand is offering many opportunities for the existing players to expand and develop further technologies. 2010 will be a recoving year while there are signs of g
16、rowth from 2011 mid onwards. New players can make an entry in 2010 with improved technologies and low treatment cost. 4.3 Orthopaedic Market in Germany Worldwide there are three regions accounting for the largest share of the orthopaedic market, of which United States and Japan comes under first two
17、 positions and Germany is the third largest player. Germany has implemented the diagnosis related group (DRG) payment system to promote maximum efficiency and reduce hospital stay. Almost 90% of the German population is covered by a compulsory Government regulated Healthcare System, compared to the
18、US where around 68% of people have private health insurance coverage. In Germany DRG reimbursement codes are determined centrally and are uniform across the state. In the US, health insurance companies can negotiate individual reimbursement rates with providers, which have typically meant a more fav
19、ourable reimbursement rates for Devices. Medical implant costs (i.e., volume and price) are already the highest single contributor (30%) to the rise in medical good costs in Germany over the past five years. In our view, this segment is likely to be vulnerable to an increased regulatory clamp down.
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