Demand for implantable medical devices will increase over 10% annually to $36.4 billion in 2009. An expanding prevalence of heart, orthopedic, neurological, visual, and urinary disorders coupled with new, high value-added product introductions will promote gains. In addition, the increasing popularity of cosmetic surgery will favorably impact growth opportunities for breast, dermal, and tissue implants. These and other trends are presented in Implantable Medical Devices, a new study from The Freedonia Group Inc., a Cleveland-based industrial market research firm.
Demand for cardiac implants will increase 10.4% annually to $17.4 billion in 2009. Gains will reflect aging demographic patterns, changing healthcare reimbursement policies, and product improvements. Increasing clinical evidence of health and life-saving benefits will prompt third-party insurance concerns to cover more heart patients for cardiac resynchronization therapy (CRT) devices, implantable cardioverter defibrillators (ICDs), coronary drug-eluting stents, carotid stents, and endovascular stent grafts, among other implants.
Demand for orthopedic implants will reach $15.2 billion in 2009, up 9% annually from 2004. Tissue and spinal implants, along with hip replacement products, will see the fastest sales gains as advances in fusion, fixation, and neurological stimulating technologies improve the success rate and cost-effectiveness of related surgical procedures. Demand for knee reconstructive implants and trauma fixation products will expand at a more moderate pace, spurred by the increasing prevalence of deteriorated joint conditions and fracture injuries, but adversely affected by improvements in alternative drug therapies and external fixation devices.
Information: www.freedoniagroup.com .