Keywords : Orthopaedic, Orthopedic, Spinal device, orthopedics, orthopaedic spine
Growth in the global orthopaedic market is projected to be 5% over the period 2010-15. By 2015, orthopaedic revenues are expected to total US$46.8 billion compared with US$36.5 billion in 2010 - but which sector is driving this growth? The orthopaedic market hasn’t been immune to the economic downturn that has plagued world economies in recent times. Some of the smaller companies, particularly those at the cutting edge of the mark...
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Growth in the global orthopaedic market is projected to be 5% over the period 2010-15. By 2015, orthopaedic revenues are expected to total US$46.8 billion compared with US$36.5 billion in 2010 - but which sector is driving this growth?
The orthopaedic market hasn’t been immune to the economic downturn that has plagued world economies in recent times.
Some of the smaller companies, particularly those at the cutting edge of the market, found themselves short of cash and with little in the way of white knights to help make up the shortfall. Even companies like Abbott have baulked at the pressures of the industry – choosing to quit the spine industry in 2008 for example. Meanwhile Biomet’s private equity owners must be kicking themselves over the timing of their billion dollar investment just before the market downturn.
Now things are slowly changing. Private equity has returned to the industry and some of those calls for cash are finally getting answered by investors. It’s also become noticeable that some of these investors are being able to successfully sell some of their business holdings with their pride relatively intact. And the reasons why we need these devices are growing evermore present.
The strength of the orthopaedics sector is that the fundamentals remain strong. It is one of the fastest growing sectors in the industry, thanks to the impact of an expanding elderly population and the associated steady rise and diagnosis in musculoskeletal disorders which will keep demand high.
Use this new report to easily answer key business questions such as:
Which orthopaedic sector is forecast to grow to US$8.3 billion by 2015?
At the time of publication, there were 19 significant acquisitions in 2011 – who were the buyers, and how will it affect their market position in the future?
Which region of the world is expected to achieve a CAGR approaching 10%?
Which country posted the fastest growth in 2010 for hip and knee replacement procedures?
What is the market share of the leading companies?
Why would those interested in the spine market particularly note the performance of Alphatec Spine, Anika Therapeutics and Medicrea?
What strengths does BioMimetic have in the competitive orthobiologics sector
A complete analysis packed with facts, forecasts and
detailed company evaluations
Mergers & Acquisitions: a return of capital sees activity levels increase
After a quiet 2009, 2010 saw a return to confidence with a number of substantial acquisitions going through. In March 2010, Baxter International announced the US$330 million takeover of ApaTech, a UK company specialising in orthobiologics. Also in March, Alphatec Spine went ahead with a US$127 million deal to acquire Scient’x, the French spinal devices developer. Towards the end of the year, Medtronic continued with its aggressive growth strategy and strengthened its orthobiologics operations by acquiring Osteotech in a US$123 million transaction. If further evidence was needed of changing times, it can be found in the April 2011 announcement of Johnson & Johnson’s (DePuy) US$21.3 billion takeover of Synthes; the first ‘mega-deal’ since Biomet was bought out in 2007 and which has consolidated DePuy’s status as the global leader in orthopaedics.
Spine and Orthobiologics return to favour
M&A activity in the spine and orthobiologics sectors was subdued in 2009/10, but has returned with vigour in the first half of 2011. Facet Solutions, Applied Spine Technologies and Impliant were all snapped up for undisclosed sums between January and May, and activity culminated with an US$89 buy out of SeaSpine by Integra LifeSciences in May. This deal was, of course, dwarfed by Stryker’s US$318 million investment in Orthovita in May 2011, which has to date been the year’s major orthobiologics acquisition.
Joining the US$1 billion club?
Seven companies reported orthopaedic revenues exceeding US$1 billion in 2010. Together, these seven (Stryker, DePuy, Zimmer, Smith & Nephew, Biomet, Synthes and Medtronic) accounted for over 80% of the overall orthopaedic market. All but two have broad orthopaedic portfolios, the exceptions being Synthes and Medtronic who feature as orthopaedic market leaders by virtue of their dominance in their own specific niches, namely trauma and spinal. New future members are most likely to be DJO and Hanger Orthopaedic the specialists in rehabilitation and bracing services who are both fast approaching the US$1 billion revenue mark.
Global Orthopedic Industry
Orthopaedics: Market Prospects & Global Competition
List of companies in this report
aap Implantate
Alphatec Spine
Amedica
Anika Therapeutics
Artimplant
Ascension Orthopedics
Biomet
BioMimetic Therapeutics
BoneSupport
Cardo Medical
co.don
ConforMIS
Corin
DePuy
Disc Motion Technologies
DJO Global
Exactech
Globus Medical
Hanger Orthopedic
Inion
Integra LifeSciences
K2M
KFx Medical
Kuros Biosurgery
LDR Holdings
Life Spine
Mako Surgical
Mazor Robotics
Medicrea
Medtronic
NuVasive
Orthofix International
Orthovita
Pioneer Surgical Technology
RTI Biologics
SI-BONE
Small Bone Innovations
Smith & Nephew
Spinal Elements
SpinalMotion
SpineSmith
Stanmore Implants
Stryker
Symmetry Medical
Synthes
Tornier
TranS1
Wright Medical Group
X-spine Systems
Zimmer
Table of Contents
INTRODUCTION.......1
“PRODUCTS ARE KEY”......1
THE GLOBAL ORTHOPAEDIC MARKET, 2010-2015...........3
Global Orthopaedic Market - Key Players in 2010...................4
Mergers & Acquisitions - Industry Consolidation9
GLOBAL MARKET REVIEW........12
Surgical Activity..............13
aap Implantate ..17
KEY PERSONNEL..............17
COMPANY OVERVIEW....17
KEY MILESTONES............17
AGREEMENTS...................18
TECHNOLOGIES/PRODUCTS.............18
KEY FINANCIAL DATA......22
Alphatec Spine ...23
KEY PERSONNEL..............23
COMPANY OVERVIEW....23
KEY COMPETITORS.........23
KEY MILESTONES............23
AGREEMENTS...................24
TECHNOLOGIES/PRODUCTS.............26
SCIENT’X TECHNOLOGIES/PRODUCTS................30
KEY FINANCIAL DATA......33
Amedica ................35
KEY PERSONNEL..............35
COMPANY OVERVIEW....35
KEY MILESTONES............35
AGREEMENTS...................36
TECHNOLOGIES/PRODUCTS.............37
KEY FINANCIAL DATA......39
Anika Therapeutics .............41
KEY PERSONNEL..............41
COMPANY OVERVIEW....41
KEY COMPETITORS.........41
KEY MILESTONES............41
AGREEMENTS...................42
R&D MILESTONES...........42
TECHNOLOGIES/PRODUCTS.............42
KEY FINANCIAL DATA......43
Artimplant .........45
KEY PERSONNEL..............45
COMPANY OVERVIEW....45
KEY MILESTONES............45
AGREEMENTS...................45
R&D MILESTONES...........46
TECHNOLOGIES/PRODUCTS.............47
KEY FINANCIAL DATA......47
Ascension Orthopedics ......49
KEY PERSONNEL..............49
COMPANY OVERVIEW... 49
KEY MILESTONES........... 49
AGREEMENTS.................. 50
TECHNOLOGIES/PRODUCTS............ 50
KEY FINANCIAL DATA..... 53
Biomet ................. 55
KEY PERSONNEL............. 55
COMPANY OVERVIEW... 55
KEY COMPETITORS........ 55
KEY MILESTONES........... 56
AGREEMENTS.................. 56
R&D MILESTONES.......... 57
TECHNOLOGIES/PRODUCTS............ 57
SUBSIDIARIES................. 62
KEY FINANCIAL DATA..... 69
Bio Mimetic Therapeutics .. 71
KEY PERSONNEL............. 71
COMPANY OVERVIEW... 71
KEY COMPETITORS........ 71
KEY MILESTONES........... 71
AGREEMENTS.................. 72
R&D MILESTONES.......... 73
TECHNOLOGIES/PRODUCTS............ 74
KEY FINANCIAL DATA..... 74
BoneSupport ......75
KEY PERSONNEL............. 75
COMPANY OVERVIEW... 75
KEY COMPETITORS........ 75
KEY MILESTONES........... 75
AGREEMENTS.................. 76
TECHNOLOGIES/PRODUCTS............ 76
KEY FINANCIAL DATA..... 77
Cardo Medical .. 79
KEY PERSONNEL............. 79
COMPANY OVERVIEW... 79
KEY COMPETITORS........ 79
KEY MILESTONES........... 79
TECHNOLOGIES/PRODUCTS............80
KEY FINANCIAL DATA..... 81
co .don................. 83
KEY PERSONNEL............. 83
COMPANY OVERVIEW... 83
KEY COMPETITORS........ 83
AGREEMENTS.................. 83
R&D MILESTONES.......... 83
TECHNOLOGIES/PRODUCTS............84
KEY FINANCIAL DATA.....84
ConforMIS.......... 85
KEY PERSONNEL............. 85
COMPANY OVERVIEW... 85
KEY MILESTONES........... 85
AGREEMENTS..................86
TECHNOLOGIES/PRODUCTS............86
KEY FINANCIAL DATA..... 87
Corin 89
KEY PERSONNEL............. 89
COMPANY OVERVIEW... 89
KEY MILESTONES........... 89
AGREEMENTS.................. 89
TECHNOLOGIES/PRODUCTS............90
KEY FINANCIAL DATA.....94
DePuy................... 95
KEY PERSONNEL............. 95
COMPANY OVERVIEW... 95
KEY COMPETITORS........ 95
KEY MILESTONES...........96
AGREEMENTS.................. 98
R&D MILESTONES.......... 98
TECHNOLOGIES/PRODUCTS............99
KEY FINANCIAL DATA....115
Disc Motion Technologies ..................117
KEY PERSONNEL............117
COMPANY OVERVIEW..117
KEY COMPETITORS.......117
KEY MILESTONES..........117
R&D MILESTONES.........117
TECHNOLOGIES/PRODUCTS...........118
KEY FINANCIAL DATA....118
DJO Global ........119
KEY PERSONNEL............119
COMPANY OVERVIEW..119
KEY COMPETITORS.......119
KEY MILESTONES..........119
AGREEMENTS................ 120
R&D MILESTONES........ 121
TECHNOLOGIES/PRODUCTS.......... 121
KEY FINANCIAL DATA... 131
Exactech ............133
KEY PERSONNEL........... 133
COMPANY OVERVIEW. 133
KEY COMPETITORS...... 133
KEY MILESTONES......... 133
AGREEMENTS................ 134
TECHNOLOGIES/PRODUCTS.......... 135
KEY FINANCIAL DATA... 139
Globus Medical ...................141
KEY PERSONNEL........... 141
COMPANY OVERVIEW. 141
KEY COMPETITORS...... 141
KEY MILESTONES......... 141
R&D MILESTONES........ 142
TECHNOLOGIES/PRODUCTS.......... 142
KEY FINANCIAL DATA... 147
Hanger Orthopedic ...........149
KEY PERSONNEL........... 149
COMPANY OVERVIEW. 149
KEY COMPETITORS...... 149
KEY MILESTONES......... 149
AGREEMENTS................ 150
TECHNOLOGIES/PRODUCTS.......... 150
KEY FINANCIAL DATA... 153
Inion 155
KEY PERSONNEL........... 155
COMPANY OVERVIEW. 155
KEY MILESTONES......... 155
AGREEMENTS................ 156
R&D MILESTONES........ 156
TECHNOLOGIES/PRODUCTS.......... 157
KEY FINANCIAL DATA... 159
Integra LifeSciences ..........161
KEY PERSONNEL........... 161
COMPANY OVERVIEW. 161
KEY COMPETITORS...... 161
KEY MILESTONES......... 161
AGREEMENTS................164
TECHNOLOGIES/PRODUCTS.......... 165
KEY FINANCIAL DATA... 172
K2M...173
KEY PERSONNEL........... 173
COMPANY OVERVIEW. 173
KEY MILESTONES......... 173
AGREEMENTS.................174
TECHNOLOGIES/PRODUCTS.......... 175
KEY FINANCIAL DATA... 176
KFx Medical .......177
KEY PERSONNEL........... 177
COMPANY OVERVIEW. 177
KEY COMPETITORS...... 177
KEY MILESTONES......... 177
TECHNOLOGIES/PRODUCTS.......... 178
KEY FINANCIAL DATA... 178
Kuros Biosurger y..............179
KEY PERSONNEL........... 179
COMPANY OVERVIEW. 179
KEY MILESTONES......... 179
AGREEMENTS................ 179
R&D MILESTONES........ 179
TECHNOLOGIES/PRODUCTS..........180
KEY FINANCIAL DATA... 182
LDR Holdings ... 183
KEY PERSONNEL........... 183
COMPANY OVERVIEW. 183
KEY COMPETITORS...... 183
KEY MILESTONES......... 183
R&D MILESTONES........184
TECHNOLOGIES/PRODUCTS.......... 185
KEY FINANCIAL DATA...188
Life Spine ........... 189
KEY PERSONNEL........... 189
COMPANY OVERVIEW. 189
KEY MILESTONES......... 189
AGREEMENTS................190
TECHNOLOGIES/PRODUCTS..........190
KEY FINANCIAL DATA... 192
Mako Surgical .193
KEY PERSONNEL........... 193
COMPANY OVERVIEW. 193
KEY COMPETITORS...... 193
KEY MILESTONES......... 193
AGREEMENTS................194
R&D MILESTONES........194
TECHNOLOGIES/PRODUCTS..........194
KEY FINANCIAL DATA... 195
Mazor Robotics ..................197
KEY PERSONNEL........... 197
COMPANY OVERVIEW. 197
KEY MILESTONES......... 197
AGREEMENTS................ 198
R&D MILESTONES........ 198
TECHNOLOGIES/PRODUCTS..........199
KEY FINANCIAL DATA...199
Medicrea International . 201
KEY PERSONNEL...........201
COMPANY OVERVIEW.201
KEY MILESTONES.........201
AGREEMENTS................201
R&D MILESTONES........202
TECHNOLOGIES/PRODUCTS..........202
KEY FINANCIAL DATA...203
Medtronic ........ 205
KEY PERSONNEL...........205
COMPANY OVERVIEW.205
KEY COMPETITORS......205
KEY MILESTONES.........205
AGREEMENTS................208
R&D MILESTONES........208
TECHNOLOGIES/PRODUCTS..........209
KEY FINANCIAL DATA... 218
NuVasive ............219
KEY PERSONNEL........... 219
COMPANY OVERVIEW. 219
KEY COMPETITORS...... 219
KEY MILESTONES......... 219
AGREEMENTS................220
TECHNOLOGIES/PRODUCTS..........221
KEY FINANCIAL DATA...223
Ortho fix International . 225
KEY PERSONNEL...........225
COMPANY OVERVIEW.225
KEY COMPETITORS......225
KEY MILESTONES.........226
AGREEMENTS................227
TECHNOLOGIES/PRODUCTS..........228
KEY FINANCIAL DATA...233
Orthovita ......... 235
KEY PERSONNEL...........235
COMPANY OVERVIEW.235
KEY COMPETITORS......235
KEY MILESTONES.........235
R&D MILESTONES........236
TECHNOLOGIES/PRODUCTS..........237
KEY FINANCIAL DATA...238
Pioneer Surgical Technolog y.......... 239
KEY PERSONNEL...........239
COMPANY OVERVIEW.239
KEY MILESTONES.........239
AGREEMENTS................240
R&D MILESTONES........ 241
TECHNOLOGIES/PRODUCTS.......... 241
KEY FINANCIAL DATA...245
RTI Biologics .... 247
KEY PERSONNEL........... 247
COMPANY OVERVIEW. 247
KEY MILESTONES......... 247
AGREEMENTS................248
R&D MILESTONES........249
TECHNOLOGIES/PRODUCTS..........249
KEY FINANCIAL DATA...252
SI-BONE............... 253
KEY PERSONNEL...........253
COMPANY OVERVIEW.253
KEY COMPETITORS ......253
KEY MILESTONES.........253
R&D MILESTONES........254
TECHNOLOGIES/PRODUCTS..........254
KEY FINANCIAL DATA...254
Small Bone Innovations . 255
KEY PERSONNEL...........255
COMPANY OVERVIEW.255
KEY COMPETITORS......255
KEY MILESTONES.........255
AGREEMENTS................257
R&D MILESTONES........257
TECHNOLOGIES/PRODUCTS..........258
KEY FINANCIAL DATA...262
Smith & Nephew .................. 263
KEY PERSONNEL...........263
COMPANY OVERVIEW.263
KEY COMPETITORS......263
KEY MILESTONES.........263
AGREEMENTS ...............265
R&D MILESTONES........266
TECHNOLOGIES/PRODUCTS..........267
KEY FINANCIAL DATA...272
Spinal Elements ..................275
KEY PERSONNEL........... 275
COMPANY OVERVIEW. 275
KEY MILESTONES......... 275
AGREEMENTS ............... 275
R&D MILESTONES........ 275
TECHNOLOGIES/PRODUCTS.......... 276
KEY FINANCIAL DATA...277
Spinal Motion .. 279
KEY PERSONNEL...........279
COMPANY OVERVIEW.279
KEY MILESTONES.........279
R&D MILESTONES........280
TECHNOLOGIES/PRODUCTS..........280
KEY FINANCIAL DATA...281
Spine Smith ........ 283
KEY PERSONNEL...........283
COMPANY OVERVIEW.283
KEY MILESTONES.........283
AGREEMENTS................283
R&D MILESTONES........284
TECHNOLOGIES/PRODUCTS..........284
KEY FINANCIAL DATA...285
Stanmore Implants .......... 287
KEY PERSONNEL...........287
COMPANY OVERVIEW.287
KEY MILESTONES.........287
AGREEMENTS................287
TECHNOLOGIES/PRODUCTS..........288
KEY FINANCIAL DATA...290
Str yker .............. 291
KEY PERSONNEL...........291
COMPANY OVERVIEW.291
KEY COMPETITORS......291
KEY MILESTONES.........292
AGREEMENTS................293
R&D MILESTONES........293
TECHNOLOGIES/PRODUCTS..........294
KEY FINANCIAL DATA...302
Symmetr y Medical ............ 303
KEY PERSONNEL...........303
COMPANY OVERVIEW.303
KEY COMPETITORS......303
KEY MILESTONES.........303
AGREEMENTS................304
TECHNOLOGIES/PRODUCTS..........304
KEY FINANCIAL DATA...307
Synthes ............. 309
KEY PERSONNEL...........309
COMPANY OVERVIEW.309
KEY COMPETITORS......309
KEY MILESTONES.........309
AGREEMENTS................ 310
TECHNOLOGIES/PRODUCTS.......... 310
KEY FINANCIAL DATA... 317
Tornier ...............319
KEY PERSONNEL........... 319
COMPANY OVERVIEW. 319
KEY MILESTONES......... 319
AGREEMENTS................ 319
R&D MILESTONES........320
TECHNOLOGIES/PRODUCTS.......... 321
KEY FINANCIAL DATA..325
Tran S1................ 327
KEY PERSONNEL...........327
COMPANY OVERVIEW.327
KEY COMPETITORS......327
KEY MILESTONES.........327
AGREEMENTS................328
TECHNOLOGIES/PRODUCTS..........328
KEY FINANCIAL DATA...328
Wright Medical Group .... 329
KEY PERSONNEL...........329
COMPANY OVERVIEW.329
KEY COMPETITORS......329
KEY MILESTONES.........329
AGREEMENTS................ 331
R&D MILESTONES........ 331
TECHNOLOGIES/PRODUCTS..........332
KEY FINANCIAL DATA...342
X-spine Systems ................... 343
KEY PERSONNEL...........343
COMPANY OVERVIEW.343
KEY MILESTONES.........343
AGREEMENTS................344
TECHNOLOGIES/PRODUCTS..........344
KEY FINANCIAL DATA...345
Zimmer ............... 347
KEY PERSONNEL...........347
COMPANY OVERVIEW.347
KEY COMPETITORS......347
KEY MILESTONES.........347
AGREEMENTS................349
R&D MILESTONES........349
TECHNOLOGIES/PRODUCTS..........350
ABBOTT SPINE PRODUCTS.............359
KEY FINANCIAL DATA... 361
