WALTHAM, Mass., Nov. 25 /PRNewswire/ -- According to Millennium Research Group (MRG), the global authority on medical technology market intelligence, the nearly $3 billion US market for trauma fixation devices will continue to see rapid growth over the next five years despite the recent economic slowdown. MRG's US Markets for Trauma Devices 2010 report finds that this market will remain highly dynamic over the next five years, with competitors introducing specialized devices in previously underserved segments of the trauma fixation market, fueling market growth.
Trauma device manufacturers are becoming increasingly focused on developing products that are suited for specific anatomical locations. Low-profile plating systems, for example, have grown in popularity for extremity fixation procedures where soft tissue coverage is minimal and thicker systems often cause irritation. Polyaxial plating systems are also penetrating the market because these systems improve screw placement, a particularly important feature when a surgeon is securing small bone fragments near periarticular surfaces. Market growth will also continue to be fueled by surgeon uptake of anatomic plating systems. These devices are designed to fit the unique contours of periarticular surfaces, allowing for improved screw placement around small bone fragments to achieve adequate fracture reduction. Because surgeons are primarily focused on attaining the most secure fixation possible, significant market opportunity exists for companies that introduce advanced or specialized trauma fixation technologies.
"Although Synthes, Stryker, and Smith & Nephew currently dominate the trauma device market with over 70% of overall market share, device innovation and anatomical focus has created niche markets and opportunities for smaller companies to flourish," says Melissa Hussey, Analyst at MRG. "Niche companies -- including Acumed, OsteoMed, Small Bone Innovations, Tornier, and TriMed -- have gained a foothold in the market by focusing on innovation and technological advancement in fixation devices for the hand, wrist, foot and ankle, and in 2009 many saw their revenue grow faster than the overall market. This dynamic has created a number of partnership or acquisition opportunities between small companies with unique product offerings and large companies with wide distribution networks."
MRG's new report, US Markets for Trauma Devices 2010, provides critical insight into emerging trends that will fuel product adoption and market growth for plates and screws, intramedullary nails, cannulated screws, conventional hip screws, ancillary devices, external fixation devices, and long-bone stimulation devices through 2014. Additionally, the report provides complete breakdowns of trauma fixation procedures by anatomic location, as well as unit sales, average selling prices, and revenues by device type. This report includes five-year forecasts, up-to-date market shares, and in-depth qualitative insights.
About Millennium Research Group
Millennium Research Group (www.MRG.net), a Decision Resources, Inc. company (www.DecisionResourcesInc.com), is the global authority on medical technology market intelligence and the leading provider of strategic information to the healthcare sector. The company provides specialized industry expertise through multiclient market research, ongoing Marketrack(TM) projects, customer loyalty tracking, facility-level procedure forecasting, and customized solutions.
About Decision Resources, Inc.
Decision Resources, Inc. is a cohesive portfolio of companies that offers best-in-class, high-value information, and insights on important sectors of the healthcare industry. Clients rely on this analysis and data to make informed decisions. Please visit Decision Resources, Inc. at www.DecisionResourcesInc.com.
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For more information, contact:
Amy Krohn
Millennium Research Group
416-364-7776 ext. 101
akrohn@mrg.net
Elizabeth Marshall
Decision Resources, Inc.
781-296-2563
emarshall@dresources.com
SOURCE Millennium Research Group
