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Joint Reconstruction and Replacement: Materials, Technologies, and Global Markets

  • July 2014
  • 218 pages
  • BCC Research
Report ID: 2240951

Summary

Table of Contents

This BCC Research report covers the global joint reconstruction and replacement market, procedures, key growth areas, and quantitative market projections for technologies and devices through 2018. Increasing prevalence and rising patient concern about their health are boosting the joint reconstruction market. In addition to looking at current and future markets, the study also analyzes technological, demographic and economic developments that may have a long-term impact on the size and structure of the joint reconstruction and replacement market for services and products.

Use this report to:
- Learn about the the global market for joint reconstruction and replacement materials and technologies.
- Identify and segment the major orthopedic categories of joint reconstruction and replacement and the relevant disease population.
- Forecast the potential market based on the pipeline, taking into account the estimated probability that they will be commercialized.
- Assess the long-term outlook for the joint reconstruction and replacement market, taking into account market opportunities, as well as technological, financial and economic factors.

Highlights
- The global market for joint reconstruction and replacement was worth nearly $13.2 billion in 2013. This market is expected to increase to nearly $16.2 billion by 2018, registering a compound annual growth rate (CAGR) of 4.2% from 2013 through 2018.
- The U.S. market is projected to increase from $8.1 billion in 2013 to $10.3 billion by 2018, with a CAGR of 5.1% for the period of 2013 to 2018.
- The market in Europe is projected to increase from $3.8 billion in 2013 to $4.5 billion by 2018, with a CAGR of 3.3% for the period of 2013 to 2018.

INTRODUCTION
JOINT RECONSTRUCTION AND REPLACEMENT
The joint reconstruction and replacement market is the largest segment within the orthopedic market and contributes more than 40% in terms of sales revenue.
Osteoarthritis (OA) and rheumatoid arthritis (RA) are key joint disorders. Osteoporosis is another disease that affects the joints, especially in women (i.e., postmenopausal
osteoporosis), and leads to serious bone fractures. This market comprises bone cement and devices intended for the reconstruction and replacement of joints such as hip,
knee, shoulder and small joints (e.g., wrist, ankle, elbow and digits). Hip and knee devices account for more than 85% of the joint reconstruction and replacement market
in terms of sales revenue.

The ever-increasing aging population and the introduction of improved devices and technologies (e.g., minimally invasive techniques) are the key drivers of this market.
The U.S. and Europe lead the global joint reconstruction and replacement market followed by the rest of the world.

STUDY BACKGROUND
Osteoarthritis is the most common type of arthritis, characterized by the degeneration of articular cartilage, enlargement of bones at margins and deterioration of the synovial membrane. It causes chronic inflammation, resulting in the gradual wear of the cartilage covering the bone. The condition restricts the smooth motion of bones
and causes pain. It is common in the population aged 50 to 60 years. Weight bearing joints such as the hips, knees and spine are the joints most affected by OA with
increasing age.

Rheumatoid arthritis is another disabling type of arthritis. It is a chronic (long-term) disease that causes pain, stiffness, swelling and limited motion and function of many
joints. Although the disease can affect any joint, small joints in the hands and feet tend to be involved most often in this condition. Inflammation sometimes can affect organs
such as the eyes and lungs as well. In addition to the key disorders, OA and RA, osteoporosis is also a common bone disease that reduces the amount and quality of the bones, leading to fractures (broken bones). Osteoporosis does not cause pain or other symptoms unless a fracture has occurred.

Although drugs and other pharmacologic treatments slow down these diseases and related pain, in severe cases surgery is recommended. Since there is a large symptomatic patient pool worldwide, there is a pressing need to develop an up-to-date base of market information to better understand the dynamics of the joint reconstruction and replacement: materials, technologies and global markets. This report is the first edition of in-depth report to cover the joint reconstruction and replacement market, procedures, key growth areas, and quantitative market projections for technologies and devices. Increasing prevalence and rising patient concern about their health are boosting the joint reconstruction market. This study attempts to provide those involved in the industry with the information and analysis they need to address these challenges.

STUDY GOALS AND OBJECTIVES
This study, Joint Reconstruction and Replacement: Materials, Technologies and Global Markets, provides an overview of the products included in this market, and detailed
analyses of markets and competitive environments. This area covers a wide variety of products. It also covers the conditions that lead to joint disorders and injuries. The
study includes information about significant products, players, issues and trends, and other information affecting the orthopedic (joint replacement) industry. This study meets these needs by analyzing global markets for joint reconstruction and replacement (see the section “Scope” for a definition of these terms) in light of the most currently available information. In addition to looking at current and future markets, the study analyzes technological, demographic and economic developments that may have a long-term impact on the size and structure of the joint reconstruction and replacement market for services and products. The future of joint reconstruction also will be discussed with forecasts of each segment.

More specific objectives are to:
- Identify and segment the major orthopedic categories of joint reconstruction and replacement and the relevant disease population.
- Analyze the historical and current population under treatment by geographic markets.
- Identify and evaluate the impact of demographic, economic and other factors that will drive future demand for the joint reconstruction and replacement market..
- Forecast the disease population targeted for treatment by the probabilities that future demand will be higher or lower than the baseline forecast.
- Identify promising new devices, materials and technologies still in the development and testing stage, and assess the probability that they will be commercialized
successfully in the next five years.
- Forecast the potential market based on the pipeline, taking into account the estimated probability that they will be commercialized.
- Identify leading implant manufacturers and analyze the structure of the joint reconstruction and replacement market within the orthopedic industry (e.g., market
shares, concentration, and recent merger and acquisition activity).
- Assess the long-term outlook for the joint reconstruction and replacement market, taking into account market opportunities, as well as technological, financial and
economic factors.

Ongoing patient management studies will increase the number of indications. Keeping in touch with these applications for the various products is good business practice. This
study will provide the reader with the knowledge to adequately view and assess the joint surgery market and provide insights into market potential.

INTENDED AUDIENCE
The report has been written for the orthopedic market community with a focus on the joint reconstruction and replacement segment, but is especially tailored for readers
with an interest in the marketing and management dimensions of current market and technological trends within joint reconstruction and replacement, and global markets.

This especially includes readers in the:
- Pharmaceutical and medical device industry.
- Medical research institutions.
- Investment community.
- Financial and analyst community.

SCOPE OF THE REPORT
This report is an analytical business tool whose primary purpose is to describe the thorough evaluation of the global market for joint reconstruction and replacement
materials and technologies. The format of the study is organized around the following topics:
- Detailed study around joint disorders and key indications, including OA, RA and osteoporosis.
- Disease incidence and prevalence.
- Regulatory structure.
- Market characterization, unmet need, market size and segmentation.
- Market drivers and restraints.
- Detailed market projections through 2018.
- Competition and market shares.
- Pricing and reimbursement.
- Marketed and pipeline (R&D) products along with a description, regulatory status and clinical trials.
- Market strategy with an overview of key mergers and acquisitions.
- Observations and conclusions regarding the future market of joint reconstruction and replacement, materials and technologies.
- Profiles of market participants and associations.

METHODOLOGY AND INFORMATION SOURCES
The findings and conclusions of this report are based on information gathered through primary and secondary data collection methods. Primary methods included interviews
with key executives, product managers, clinical specialists and other related key personnel involved in the orthopedic industry. Secondary sources included published
literature, investment reports, trade publications, trade associations, government sources (diseases and demographics), joint registries, company literature and online
databases and various business journals that have an emphasis on joint disorders and injuries and related areas to produce the market estimates contained in this report.
The base year for analysis and projection is 2013. At the time this report was prepared (early 2014), year-end data for 2013 were not yet universally available.

With 2013 as a baseline, market projections were developed for 2013 to 2018. These projections are based on a consensus of primary contacts combined with BCC Research’s understanding of the key market drivers and their impact from a historical and analytical perspective. The analytical methodologies used to generate the market estimates are described in detail in the section on “Detailed Market Projections.” All dollar projections presented in this report are in 2013 constant dollars.

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