Depuy Synthes, Stryker Lead Rising India Orthopedic Small Bone and Joint Device Market
October 19, 2016 (PRLEAP.COM) Health NewsOctober 19, 2016 - Vancouver, BC – According to a new series of reports on the Indian orthopedic small joint devices market by iData Research (www.idataresearch.com), the extremity market is a very lucrative area in the orthopedic industry. The small bone and joint orthopedic device market is still emerging in India and is not as prolific as the large joint market. However, growth in this market will gradually increase as the number of product solutions for indications that have been traditionally underserved continues to expand. Driving factors include the aging population, more active young patients and increasing incidences of osteoarthritis.
India has one of the oldest populations in the world, which is expected to increase by 360% over the next 40 years. India is also the second most populous country in the world with a population of approximately 1.2 billion, which makes its arthroplasty market among the largest in the world. This trend is expected to continue, as the birth rate in India is one of the highest in the world at 22.2 births per 1,000 people.
"The largest segment of the Indian small bone and joint orthopedic device market is the shoulder reconstruction segment", explains Dr. Kamran Zamanian, CEO of iData.
The hand and wrist device segment is the fastest growing market in the small bone and joint device market in India. This segment will continue growing at a double-digit rate over the next several years. One limiting factor to this market is the increased efficacy of pharmaceutical drugs for treating arthritic pain.
Depuy Synthes leads the overall Indian small bone and joint market due to their GLOBAL® product line which includes total shoulder, partial shoulder and resurfacing shoulder implants. They currently are the only major company in the growing Indian resurfacing shoulder implant market with their GLOBAL® CAP® CTA™. DePuy Synthes also leads the combined hand and wrist device market in India. This is largely based on the company's strong position in the lucrative distal radius plate market where they sell their Variable Angle LCP Two-Column Volar Distal Radius Plate.
Stryker has the second strongest market share of the Indian small bone and joint market. They are the only company whose product portfolio spans across all small bone and joint markets in India. The company's position is attributed to its offerings in the external fixation market due to strong sales of their HoffmanTM external fixation system. Stryker also has a strong presence in the shoulder reconstruction market segment with sales of their ReUnion® line of shoulder replacement devices. Additional competitors in the Indian small bone and joint device market include Zimmer Biomet, Evolutis, Orthofix, Arthrex, Apothecaries Sundries, Bakshi's Elbow, Exactech, J.S. Medimax, Nebula Surgical, Ortho Care, Sharma Orthopedic, XL-Orthomed and other local manufacturers.
For Further Information
More on the small bone and joint market in India can be found in a series of reports published by iData Research entitled the India Market Report Suite for Small Bone and Joint Orthopedic Devices. The suite covers reports on the following markets: shoulder reconstruction devices, elbow reconstruction devices, hand and wrist devices and foot and ankle devices. The shoulder reconstruction device market is further segmented into total shoulder implants, reverse shoulder implants, hemi-shoulder implants and resurfacing shoulder implants. The elbow reconstruction device market is segmented into total elbow implants and radial head implants. Additionally, the total elbow implant market is segmented into semi-constrained total elbow implants and unconstrained total elbow implants. The hand and wrist device market is segmented into wrist fusions and distal radius plates. Finally the foot and ankle device market is segmented into total ankle implants, ankle fusions, and foot and ankle external fixations.
The iData report series on small bone and joint devices covers the U.S., China, Japan, India, and 15 countries in Europe including Germany, France, the United Kingdom (U.K.), Italy, Spain, Benelux (Belgium, Netherlands and Luxemburg), Scandinavia (Finland, Denmark, Sweden and Norway), Portugal, Austria and Switzerland. Reports provide a comprehensive analysis including units sold, procedure numbers, market value, forecasts, as well as detailed competitive market shares and analysis of major players' success strategies in each market and segment. To find out more about orthopedic market data or procedure data, register online or email us at firstname.lastname@example.org for an India Market Report Suite for Small Bone and Joint Orthopedic Devices brochure and synopsis.
About iData Research
iData Research (www.idataresearch.com) is an international market research and consulting group focused on providing market intelligence for medical device and pharmaceutical companies. iData covers research in: Operating Room Equipment, Surgical Microscopes, Robotics and Surgical Navigation, Laparoscopy, Urology, Gynecology, Vascular Access, Endoscopy, Interventional Cardiology, Cardiac Surgery, Cardiac Rhythm Management, Electrophysiology, Ultrasound, X-Ray Imaging, Diagnostic Imaging, Oncology, Spinal Implants and VCF, Spinal MIS, Orthopedic Soft Tissue Repair and Regeneration, Orthopedic Trauma, Large & Small Joints, Anesthesiology, Wound Management, Orthopedics, Ophthalmics, Dental Operatory Equipment and more.