BURLINGTON, Mass., Oct. 9, 2014 /PRNewswire/ -- Decision Resources Group finds that the European market for orthopedic extremity devices will remain a point of focus and expansion for competitors currently in the mature large-joint device markets. The orthopedic extremity device market is relatively underpenetrated compared to its large-joint counterpart, and as awareness of and physician comfort with these procedures increases, the orthopedic extremity device market will offer greater potential for revenue expansion.
Other key findings from Decision Resources Group's coverage of the European orthopedic extremity device market:
- Shift toward premium-priced technology: Despite ongoing cost concerns resulting from the eurozone crisis, premium-priced products will increasingly be adopted as surgeons become more familiar with these technologies and as the economy begins to recover. In particular, anatomic plates and biocomposite sutures will be increasingly favored.
- Rising preference for arthroplasty: Arthroplasty is increasingly preferred over arthrodesis, particularly for younger patients. Although this procedure is more expensive than arthrodesis—which will hinder adoption in some regions in Europe, particularly Spain and Italy—the increased mobility offered by arthroplasty will spur strong long-term adoption.
- Adoption of new technology by surgeons in Germany: Although surgeons in both France and the United Kingdom have been known to be pioneering when it comes to surgical techniques for the extremities—having developed the reverse total shoulder replacement technique and the joint resurfacing technique—it is German surgeons that are considered to be the quickest to adopt new surgical techniques. As a result, competitors often focus their initial product launches on Germany, which contributes to Germany's higher growth rate. Wright Medical Technology's launch of the INFINITY total ankle replacement system is a recent example of the initial focus on German surgeons.
Comments from Decision Resources Group Analyst Yulia Privolnev:
- "There has been a lot of recent merger and acquisition activity—such as Zimmer acquiring Biomet and Stryker acquiring Small Bone Innovations—as companies expand their product offerings to represent multiple segments. This will improve the ability of competitors to offer product bundles, which are particularly crucial for selling commoditized products, such as trauma devices."
- "Competitors will also diversify their portfolios in order to cater to group purchasing organizations (GPOs) that facilitate bulk purchases and discounts for hospitals; GPOs have an increasing presence in Europe, particularly in Germany. Manufacturers will need to accommodate high volume purchases and offer broad product offerings to attract GPOs."
- Yulia Privolnew has written a Medtech 360 report on this subject entitled European Markets for Orthopedic Extremity Devices 2015.
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