Aging Baby Boomer Population
Presents Considerable Growth Potential for European Orthopaedic Implant Market
Changing demographics are driving Europe's
orthopaedic implant market. As Europe's population ages rapidly, a number of
age-related conditions, including orthopaedic problems, will underpin an
increase in the number of implant surgeries. This will augment growth rates in
the European orthopaedic implants market.
Frost & Sullivan finds that the European Orthopaedic Implants Market earned
revenues of $2.50 billion in 2005.
"In conjunction with the region's population aging, the number of arthritis
problems are increasing, leading to enhanced demand for orthopaedic implants,"
notes Frost & Sullivan Research Analyst Harini Subramani. "Moreover,
sports-related injuries among the younger population group are acting as a major
driver in market expansion."
At present, reimbursement and cost pressures pose the biggest challenges to
market growth. Healthcare budgetary constraints are affecting the manufacturers
and creating a tense market situation.
"Across Europe, there is a downward pressure to cut costs," explains Ms.
Subramani. "But given the fixed costs of manufacturing implants, it is difficult
to do so. Over time though, cost pressures are expected to dissipate and the
market will reach a more stable position. "
To expand their market share and enhance the efficiency of their production
line, manufacturers should enter into collaborations with other market
participants. The outcome in terms of improved product offerings will, moreover,
promote goodwill among patients and hospitals.
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