The US orthopaedic extremity device market is estimated to generate over $4.6bn in revenues by 2015, growing at a compound annual growth rate of 10%, according to a new report by Millennium Research Group (MRG).
The market will be driven by factors such as continued product innovation, surgeon specialisation, and patient awareness of available orthopedic extremity devices.
Although the US orthopaedic extremity device market was dominated by orthopaedic giants in 2010, several small emerging companies have successfully carved out a substantial share of the market, the report noted.
Examples of this include the STAR three-piece mobile-bearing total ankle replacement and Tornier’s line of Aequalis reconstructive shoulder implants.
MRG Analyst Arun Jaganathan said sustained innovation by small emerging players will play a key role in changing the landscape of the orthopaedic extremity space.