European Trauma Fixation Device Market Valued at $660 Million in 2010
WALTHAM, Mass., July 14 According to Millennium Research Group (MRG), the global authority on medical technology market intelligence, the European market for trauma fixation devices is valued at over $660 million in 2010 and will continue to grow despite downward price pressures on trauma fixation devices from centralized purchasing groups. Developed by health care providers, purchasing groups are negotiating lower prices for large-volume purchases of medical devices in order to minimize costs. Through 2014, growth of the European trauma fixation device market will be fueled by continued adoption of specialized anatomic plates and screws and indication-specific intramedullary (IM) nails.
Trauma device manufacturers' sustained investment in developing plating systems for specific anatomical locations has borne new, innovative products. Synthes recently launched the Variable Angle LCP Two-Column Volar Distal Radius Plate, while Smith & Nephew released the VLP FOOT Variable-angle Locked Plating system. These devices are designed to fit the unique contours of periarticular surfaces, allowing for improved screw placement around small-bone fragments and increased angular stability over standard plating systems. Growth will also be fueled by surgeon uptake of indication-specific IM nails, which will continue to cannibalize the market for dynamic hip screws. IM nails are gaining popularity among European hospitals because they are implanted via minimally invasive procedures, resulting in quicker patient recovery times and allowing for hospitals to realize long-term cost savings.
"Despite the global recession, the European market for trauma devices continued to grow in 2009," said Arun Jaganathan, Analyst at MRG. "As purchasing decisions increasingly come from nonclinical staff concerned with long-term fiscal viability of health care facilities, some trauma device manufacturers are revising their sales organization structures to target these nonclinical staff and convince them of the economic benefits of new and innovative products. Despite purchasing groups demanding lower prices on device orders, continued adoption of innovative, new products such as anatomical plates and IM nails that command premium prices due to the superior health outcomes provided will drive market growth through 2014."
MRG's new report, European Markets for Trauma Devices 2010, provides critical insight into emerging trends that will fuel product adoption and market growth for plates and screws, IM nails, dynamic hip screws, cannulated screws, ancillary devices, external fixation devices, and long-bone stimulation devices in France, Germany, Italy, and the UK through 2014. Additionally, the report provides a complete breakdown of 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 behavior tracking, facility-level procedure forecasting, and customized solutions.
About Decision Resources, Inc.
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SOURCE Millennium Research Group
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