CHAGRIN FALLS, Ohio, May 29, 2014 /PRNewswire/ -- ORTHOWORLD Inc., trusted authority on orthopaedic market intelligence, today announced the release of THE ORTHOPAEDIC INDUSTRY ANNUAL REPORT(®), featuring robust coverage of 2013 strategic activity and market performance in addition to 5-year projections for worldwide product sales overall and by segment.
ORTHOWORLD's report cites that orthopaedic product sales exceeded $44.6 billion in 2013, an increase of 3% or $1.4 billion over 2012, with DePuy Synthes, Stryker, Zimmer, Medtronic, Smith & Nephew, Biomet, Arthrex, Aesculap, DJO and NuVasive dominating with a combined 75% of total market share.
"Bold tactical maneuvers such as mergers, acquisitions, globalization, portfolio expansion, lower-cost manufacturing, direct distribution, consolidation and workforce restructuring will continue to breed continued market growth into the foreseeable future," commented Carolyn LaWell, Content Manager for ORTHOWORLD.
THE ORTHOPAEDIC INDUSTRY ANNUAL REPORT reaffirms that industry has gained traction in the new post-healthcare reform, regulatory-intensive environment as evidenced by growth across all segments, including spine. "The spine segment has stabilized, and we expect to report low-single-digit YOY growth through 2018 due primarily to technologies such as discs, MIS techniques and expandable interbody cages," commented Julie Vetalice, lead contributor to the report.
Founded in 1992, ORTHOWORLD is a highly specialized publishing firm offering strategic intelligence, integrated advertising and educational conferences exclusively to the global orthopaedic market. Its singular mission is helping orthopaedic companies and individuals improve their performance.
Highly specialized product offerings such as ORTHOFLASH(®), Market Intelligence Reports, ORTHOPRENEUR(®), BONEZONE(®) and OMTEC(®) empower industry participants to respond to challenges, maximize opportunities and more aggressively expand their orthopaedic businesses.
SOURCE ORTHOWORLD Inc.