The Top 10 Orthopedic Device Companies: Financial performance, research activities, and growth strategies

Date: August 22, 2010
Pages: 102
Price:
US$ 3,835.00
Publisher: Business Insights
Report type: Strategic Report
Delivery: E-mail Delivery (PDF)
ID: T67A7E93B29EN
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The Top 10 Orthopedic Device Companies: Financial performance, research activities, and growth strategies
The orthopedic device industry is highly competitive and has reached maturity, as demonstrated by its single digit growth rate. The industry is driven largely by incremental innovation and breakthrough product launches have stalled. Several product lines are also facing severe commoditization due to increased competition. Despite such high levels of competition, the top 15 companies accounted for 95% of the market in 2009. The largest device segments are spinal, knee, and hip implants. The fastest growing segment is orthobiologics.

The report provides detailed profiles of the top 10 orthopedic device companies and brief profiles of five other major players. It elucidates trends associated with companies that develop, manufacture, and market orthopedic devices. Detailed profiles contain descriptions of products, financial performance, and growth strategies together with SWOT analyses. For each company analysis is based on:
  • Each company’s consolidated and segmental financial performance;
  • Each company’s growth strategies and major acquisitions and divestments relating to the CV devices market;
  • Key partnerships and alliances formed by these companies;
  • Business-related strengths and weaknesses of these companies, and insights into the opportunities and threats facing them.
Key drivers and resistors to growth of leading CV device companies.

Drivers
  • Demographics – aging population
  • Preference for biologic implants increasing
  • Growth in emerging markets
  • Physician preferences boosted by CME programs
  • Continued innovation
Resistors
  • Increasing pricing pressure from buyers and payers
  • Rising usage of comparative efficacy and health economics data
  • Regulatory demand for postmarketing surveillance
  • Review of the PMN pathway in the US
  • Medical device excise tax amounting to $20bn over the next 20 years
Key benefits of reading this report
  • Learn from the business operation strategies of the premier orthopedic device companies to target future growth markets effectively, avoid their mistakes, and replicate their successes.
  • Benchmark your performance against the leading orthopedic device companies.
  • Analyze the growth strategies of major players in the orthopedic industry and learn how their business models are planned for the next 3 to 5 years .
  • Compare performances of the top10 companies in the orthopedic market with respect to acquisitions, new product innovation, geography expansion, and industry challenges.
  • Save time, money, and resources on analyzing the performance of leading orthopedic device companies using this report.
Key findings from this report
  • The global orthopedic market had an estimated $33bn size in 2009, a Y-o-Y increase of 7.1%. The market is moderately dependent on macroeconomic trends and demographics.
  • In 2009, the market growth was adversely affected by patient deferral of orthopedic procedures and increased pricing pressure from buyers. Market performance was also considerably impacted by currency fluctuations, owing to a strengthening US dollar. This is due to the fact that majority of orthopedic companies are based in the US.
  • Spine, knee, and hip implants formed the largest orthopedic market segments in 2009, and accounted for nearly $18.2bn sales. Surgical accessories used in orthopedic procedures represent the most fragmented market segment, followed by spinal devices. The orthobiologics segment has the least competition and was also fastest growing segment.
  • Regulatory pressure on the orthopedic market will significantly rise due to the impending review of the PMN pathway, the Physician Payment Sunshine Act and application of comparative effectiveness research (CER) information by buyers and payers.
  • Along with CER studies, the impending $20bn medical device tax will add further pricing pressures.
Key questions answered by this report
  • What was the market value of the global orthopedic device industry in 2009?
  • What are the global market values for the major orthopedic device segments?
  • What are the key trends observed in the orthopedic device companies and what are the strategic responses that are taking shape?
  • Who are the major players in the global orthopedic device market?
  • What are the growth strategies of the leading orthopedic device companies?
  • What are the strengths, weaknesses, opportunities and threats faced by the top 10 players?
About Business Insights
Disclaimer
Executive summary
Industry overview
Stryker
DePuy
Zimmer
Medtronic
Synthes
Smith & Nephew
Biomet
Orthofix
Wright Medical Group
Conmed

CHAPTER 1 INTRODUCTION

What is this report about?
Methodology

CHAPTER 2 INDUSTRY OVERVIEW

Summary
Introduction
Market segmentation
Competitive landscape
Key drivers and resistors
Key events and trends
Changes in the PMN pathway will increase regulatory burden
CME platforms will continue to drive growth despite the Department of Justice (DOJ) clampdown
CME and inducements
DOJ settlement with device manufacturers
Physician Sunshine Act may stifle innovation in the orthopedic device industry
Impact of decline in hospital capital expenditure on orthopedics minimal in the near term
Medical device industry bracing for the comparative effectiveness research (CER) era
Medical device excise tax will influence orthopedic market top line
Rising regulatory pressure on spinal device makers

CHAPTER 3 STRYKER

Summary
Company overview
Marketed products
Orthopedic implants
MedSurg equipment
Financial performance
Orthopedic implants
Hip implant systems
Knee implant systems
Trauma implant systems
Spinal implant systems
Craniomaxillofacial implant systems
MedSurg equipments
Surgical equipment and surgical navigation systems
Endoscopic and communications systems
Research and innovation
Growth strategy
SWOT

CHAPTER 4 DEPUY

Summary
Company overview
Marketed products
DePuy Orthopedics
DePuy Spine
DePuy Mitek
Codman & Shurtleff
Financial performance
Research and product launches
Growth strategy
SWOT

CHAPTER 5 ZIMMER

Summary
Company overview
Marketed products
Reconstructive
Dental
Trauma
Spine
OSP
Financial performance
Reconstructive
Knee
Hip
Extremities
Dental
Trauma
Spine
OSP
Research and innovation
Growth strategy
SWOT

CHAPTER 6 MEDTRONIC

Summary
Company overview
Marketed products
Financial performance
Core spinal
Biologics
Research and innovation
Growth strategy
SWOT

CHAPTER 7 SYNTHES

Summary
Company overview
Marketed products
Trauma
Spine
CMF
Financial performance
Research and innovation
Growth strategy
SWOT

CHAPTER 8 SMITH & NEPHEW

Summary
Company overview
Marketed products
Orthopedics
Endoscopy
Financial performance
Orthopedics
Endoscopy
Research and innovation
Growth strategy
SWOT

CHAPTER 9 BIOMET

Summary
Company overview
Marketed products
Reconstructive products
Fixation devices
Spinal products
Other
Financial performance
Research and innovation
Growth strategy
SWOT

CHAPTER 10 ORTHOFIX

Summary
Company overview
Marketed products
Spinal products
Orthopedic products
Sports medicine
Financial performance
Spine
Orthopedics
Sports medicine
Research and innovation
Growth strategies
SWOT

CHAPTER 11 WRIGHT MEDICAL GROUP

Summary
Company overview
Marketed products
Hip products
Knee products
Extremity products
Biologics products
Financial performance
Hip products
Knee products
Extremity products
Biologic products
Research and innovation
Growth strategy
SWOT

CHAPTER 12 CONMED

Summary
Company overview
Marketed products
Arthroscopy
Powered surgical instruments
Financial performance
Arthroscopy
Powered surgical equipments
Research and innovation
Growth strategy
SWOT

CHAPTER 13 OTHER MAJOR COMPANIES

NuVasive
Integra LifeSciences
Arthrocare
Exactech
RTI Biologics

APPENDIX

Abbreviations

TABLE OF FIGURES

Figure 1: Orthopedic device global market performance, 2007–09
Figure 2: Key drivers and resistors of the orthopedic market
Figure 3: Effect of the Physician Payment Sunshine Act on the orthopedic market competitive landscape
Figure 4: Stryker's financial performance, 2007–2009
Figure 5: Stryker – SWOT
Figure 6: DePuy's financial performance, 2007–2009
Figure 7: DePuy – SWOT
Figure 8: Zimmer's financial performance, 2007–2009
Figure 9: Zimmer – SWOT
Figure 10: Financial performance Medtronic's spinal business, 2007–2009
Figure 11: Medtronic – SWOT
Figure 12: Synthes' financial performance, 2007–2009
Figure 13: Synthes – SWOT
Figure 14: Smith & Nephew's financial performance, 2007–2009
Figure 15: Smith & Nephew – SWOT
Figure 16: Biomet's financial performance, 2007–2009
Figure 17: Biomet – SWOT
Figure 18: Financial performance of Orthofix's orthopedic operations, 2007–2009
Figure 19: Orthofix – SWOT
Figure 20: Wright Medical Group's financial performance, 2007–2009
Figure 21: Wright Medical Group - SWOT
Figure 22: Financial performance of Conmed's orthopedic operations, 2007–2009
Figure 23: Conmed – SWOT
Figure 24: NuVasive's financial performance, 2007–2009
Figure 25: Financial performance of Integra LifeScience's orthopedic business, 2007–2009
Figure 26: Financial performance of Arthrocare's orthopedic business, 2007–2009
Figure 27: Exactech's financial performance, 2007–2009
Figure 28: Financial performance of RTI Biologic's orthopedic business, 2007–2009

TABLE OF TABLES

Table 1: Orthopedic device global market performance, 2007–09
Table 2: Global market sizes of orthopedic device segments, 2009
Table 3: Market shares of top 15 orthopedic device companies, 2007–09
Table 4: Orthopedic companies and surgeon/resident training programs
Table 5: Settlements by orthopedic players to US DOJ
Table 6: Stryker's financial performance, 2007–2009
Table 7: Financial performance of Stryker's business units, 2008–2009
Table 8: DePuy's financial performance, 2007–2009
Table 9: Zimmer's financial performance, 2007–2009
Table 10: Financial performance of Zimmer's business units, 2008–2009
Table 11: Financial performance Medtronic's spinal business, 2007–2009
Table 12: Financial performance of Medtronic's spinal business units, 2008–2009
Table 13: Synthes' financial performance, 2007–2009
Table 14: Smith & Nephew's financial performance, 2007–2009
Table 15: Financial performance of Smith & Nephew's business units, 2008–2009
Table 16: Biomet's financial performance, 2007–2009
Table 17: Financial performance of Biomet's business units, 2008–09
Table 18: Financial performance of Orthofix's orthopedic operations, 2007–2009
Table 19: Performance of Orthofix's orthopedic product lines, 2008–2009
Table 20: Wright Medical Group's financial performance, 2007–2009
Table 21: Performance of Wright Medical Group's orthopedic product lines, 2008-2009
Table 22: Financial performance of Conmed's orthopedic operations, 2007–2009
Table 23: Performance of Conmed Linvatec's product lines, 2009
Table 24: NuVasive's financial performance, 2007–2009
Table 25: Financial performance of Integra LifeScience's orthopedic business, 2007–2009
Table 26: Financial performance of Arthrocare's orthopedic business, 2007–2009
Table 27: Exactech's financial performance, 2007–2009
Table 28: Financial performance of RTI Biologic's orthopedic business, 2007–2009
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