The global osteosynthesis devices market
has been anticipated in a report by Transparency Market Research (TMR)
to demonstrate a highly consolidated nature owing to a large string of
mergers and acquisitions. As a result of a significant number of mergers
and acquisitions, there has been a birth of extensive product
portfolios. This could be evident with the formation of a leading player
for osteosynthesis devices because of the acquisition of DePuy Synthes
by Johnson & Johnson. DePuy Synthes, Stryker Corporation, and Zimmer
Biomet had secured a gigantic share of the market in the recent past.
In 2016, the global osteosynthesis
devices market had been slated by TMR to cross a US$6.6 bn valuation in
terms of revenue. However, while rising at a 6.5% CAGR during the
completion of the forecast tenure 2015-2023, it has now been envisaged
to touch an US$11.0 bn by the end of 2023. Considering their long
history of application in orthopedic implants and osteosynthesis
devices, non-degradable materials could take the driver’s seat of the
market for the coming years. Geographically, the market has been
projected to secure the lead in the market to collect a US$4.7 bn by the
final forecast year.
Increasing Geriatrics Suffering from Osteoporosis to Magnify Demand
The world osteosynthesis devices market
has been foreseen by seasoned analysts to gain from rising manufacturing
pressure due to the alarming and swift rise of osteoporosis and
osteoarthritis. The elderly are among the hot population groups mainly
affected by these diseases, and the number of aged patients is
increasing as per latest findings. As this number increases, the demand
for healthcare treatment options that engage osteosynthesis devices has
been prophesied to surge proportionately.
Annually, there could be nearly an over
8.6 mn fractures caused around the world due to osteoporosis, as per
statistics provided by top healthcare organizations. Regular rise of
this statistic because of the strong prevalence of obesity has created a
tensed environment especially in developed countries. Besides obesity,
this statistic has been expected to inflate on the back of the rising
count of sports injuries and road accidents.
Recalls of Osteosynthesis Devices Tarnish Reputation of Manufacturers
The creation of a negative image of
osteosynthesis devices manufacturers before consumers as a result of
poor product quality has been envisioned to cut down the demand in the
coming years. Thousands of osteosynthesis devices and implants had been
recalled by DePuy Synthes in the past. Faulty implants that caused
inconvenience to patients led to a settlement of close to US$4.0 mn.
Moreover, metal hip implants account for an average 40.0% failure rate,
which is dangerously high and needs to be addressed by manufacturers in
quick time.
However, the international osteosynthesis
devices market has been expected to find opportunities created with the
introduction of products bearing superior safety certificates. Such
improvised devices could increase demand in healthcare organizations and
win the preference of patients in the near future.
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