The American elderly population is not only growing, it is also getting heavier and more active than ever before. Even though this equation means severe joint pain is a rising concern for the American public, new technologies are emerging to help people in need of treatment. Millennium Research Group’s (MRG) new report on the US market for small-joint implants shows that in 2004 alone, over 66,500 Americans had undergone small-joint implant surgery, representing an over 6% increase from the previous year. Aging baby boomers are expected to drive this number to over 85,800 by 2009.
The US market for small-joint implants will grow by over $210 million over the next five years, reaching annual sales of over $535 million in 2009. Despite the market’s double-digit expansion, this growth will be gradually falling over the forecast period due to several factors.
Two technologies that are expected to drive much of the growth in small-joint implants are antibiotic bone cement, now available from four manufacturers, and advances in bearing-surface technology, such as metal-on-metal developments. Beginning in 2005, all eyes will be on the Food and Drug Administration to see if approval is granted for the five firms that plan to market their respective ankle implants that could change the way thousands of Americans are treated. Over the next five years, the market for ankle implants is forecast to grow over 11% annually to reach over $18.0 million by 2009. The players that are planning to enter this market are Link Orthopaedics, Endotec, Kinetikos Medical, Zimmer, and Tornier. Similarly, the market for shoulder implant surgery is expected to double over the next five years to over $210 million.
MRG’s US Small-Joint Implant Market 2005 report is part of its Global Markets for Reconstructive Implants series, which includes analyses on Europe, Japan, and key industry competitors. The global report series covers over 40 competitors including Stryker (SYK), DePuy (JNJ), Tornier, Biomet (BMET), Zimmer (ZMH), Smith & Nephew (SNN), and KMI.
A leading source of competitive intelligence, MRG is now the largest provider of medical device market research in the world. Located in Toronto, Canada, MRG covers global markets and has pioneered reporting of numerous emerging products.