According to a report by iData Research, the leading global authority in medical device market research, the US orthopaedic biomaterials market is expected to grow to nearly $3.88 billion by 2021.
Hyaluronic acid viscosupplementation used in the treatment of osteoarthritis to delay total knee replacement, accounts for the majority of the biomaterials market growth which is expected to reach nearly a billion dollars by 2017.
Here are six things to know about the orthopaedics market:
- The United States orthopaedic biomaterials market is expected to reach nearly $3.88 billion by 2021.
- The market for hyaluronic acid viscosupplementation used for osteoarthritis patients to delay total knee replacement is expected to reach around $1 billion by 2017.
- The market for hyaluronic acid products is shifting from five injections to three injections, and even further to one injection despite the slightly higher selling price for one injection.
- Despite the shift toward single injection treatments, the multi-injection products will remain a leader in the market place overall for the next few years.
- Medtronic has more than 20 per cent of the orthopaedic biomaterials market share, including their line of growth factor bone graft products.
- Genzyme is Medtronic’s market competitor, holding around 10 per cent of the orthopaedic biomaterials market with a majority market share in the hyaluronic acid viscosupplementation segment.
Source: Becker’s Spine Review www.beckersspine.com