Hip Arthroscopy Growth Boosts Stryker, ConMed, Smith & Nephew Revenue Share in $2.1 Billion Arthroscopy and Soft Tissue Market
Arthrex, Depuy Lead Rapidly-Growing Biocomposite Rotator Cuff Suture Market
VANCOUVER, June 28, 2011 /PRNewswire/ – According to a new report by iData Research (www.idataresearch.net), the leading global authority in medical device market research, the U.S. arthroscopy and soft-tissue market was valued at over $2.1 billion in 2010 and is expected to more than double to over $4.2 billion by 2017. Growth will be driven by product innovation and a rapid increase in arthroscopic procedures following the recession, particularly for the shoulder, small joints and hip.
“Over 4 million arthroscopies were performed in the U.S. in 2010, dominated by knee and shoulder procedures,” says Dr. Douglas Fung, Analyst Manager at iData. “While only a small percentage were hip arthroscopies in 2010, this segment is the fastest-growing due to improvements in surgical technologies and the growing number of qualified surgeons able to perform this technically challenging procedure.”
The report states that Smith & Nephew and Arthrex are leading the hip arthroscopy market, while Stryker recently launched their platform in a bid to gain market share in this rapidly-growing segment.
Additionally, the rotator cuff suture anchor market is expected to see strong growth due to the shift toward double-row repair, price-premium knotless suture anchors and biocomposite anchors. The biocomposite segment alone is expected to grow six-fold by 2017.
“Resorbable devices will see strong growth due to the technology’s perceived benefits including easier revisions and a lower likelihood of articular damage,” says Dr. Fung. “The introduction of double-row rotator cuff repairs has also contributed to market growth since it uses up to four anchors instead of the traditional two.”
Arthrex was the only company with a biocomposite knotless anchor in 2010 and held the market’s leading position, followed by Depuy and Smith & Nephew.
iData’s 2011 report series on the markets for “U.S. Arthroscopic Devices” and “U.S. Soft-Tissue Repair” include the latest market-analyses and competitor-profiles for over 60 segments and accompany reports on Europe and Asia-Pacific.
For more information, register free on iData’s website at: http://www.idataresearch.net/idata/registration.php
About iData Research
iData Research (www.idataresearch.net/idata/discoveridata.php) is an international market research and consulting group focused on providing market intelligence for medical device and pharmaceutical companies. iData covers research in: biomaterials, trauma, reconstruction, spine and more.
SOURCE iData Research Inc.
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