The orthopedic devices industry has been witnessing mergers and acquisitions for long and at a fast pace, owing to the downward pressure from several factors such as reimbursement and pricing, utilization of costly procedures, and increasing commoditization. In the first half of the year 2014, the orthopedic devices market underwent a plethora of mergers and acquisitions among companies and deals ranging from the acquisition of new technologies to a mega merger. In 2011, Johnson & Johnson set this trend with the acquisition of Synthes, which was followed a number of acquisitions by Stryker, Medtronic, Integra Lifesciences, Zimmer, and Smith & Nephew from 2011 to 2013.
June 2017 also witnessed a line of mergers and acquisitions among healthcare devices companies. For instance, General Electric's GE Additive partnered with Stryker to enhance the orthopedic device company's global supply chain operations. Furthermore, Stryker purchased Novadaq Technologies, a medical device company, for $701 million.1 Before these acquisitions, Stryker announced in a press release in May 2017 their collaboration with AlloSource, to provide high quality, innovative biologics for use in sports medicine procedures.
Acknowledging the intense competition in the market, BIS Research has compiled a report titled ‘Global Orthopedics Devices Market - Analysis and Forecast (2017-2023)'. The global orthopedics devices market is expected to reach $61 billion by 2023. According to the analyst at BIS Research, "The joint reconstruction and replacement devices market is the largest segment within the Orthopedics devices market is expected to grow at a CAGR of 6% from 2017 to 2023. This segment consists of various devices used for the reconstruction or replacement of hips and knee which accounted for $5,497 million and $9,695.0 million respectively in 2016. The most important driving factor for the revenue growth in this segment is the resurfacing technology."
The research study is a comprehensive analysis of the various segments of the orthopedics devices market. The market report includes a market breakdown by product type, material type, end users type and geographical regions, in order to gain a holistic view of the entire market. In terms of product, the orthopedic device market has been categorized into ortho biologics, spinal devices, joint reconstruction, trauma fixation devices, arthroscopic devices, orthopedic accessories and orthopedic braces and support system, among others.
1 Becker's Spine Review