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Orthopaedic industry is set for rapid growth

The global orthopaedic industry is set for rapid growth between now and 2016, it has been claimed.

According to a new report by GBI Research, the compound annual growth rate of the industry between now and then will be 7.8 per cent - taking the total value of the industry to $41.8 billion (€34.6 billion) by the start of 2016.

GBI Research claims that joint reconstruction will remain the largest orthopaedics sector - accounting for $22.9 billion of the total.

"The market will be driven by the aging population, technological advancements in implant designs and materials which are resulting in improved durability and younger patients undergoing surgery in the future," the report claimed.

GBI Research has reviewed key data from proprietary databases and conducted secondary research in a number of regions - including the US, Canada, the UK, Germany, France, Italy, Spain, Japan, China, India, Australia, and Brazil.

Last year, Device Link claimed that manufacturing process improvements would pave the way for tailored joint replacement components in the near future.

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