Osteosynthesis Devices Market will Account for Arou US$11 bn by the end of 2023

Global Osteosynthesis Devices Market: High Patient Count Within Geriatric Demographic, observes TMR

A culmination of the above factors along with other minor drivers and restraints is likely to result in a CAGR of 6.5% for the global osteosynthesis devices market revenue from 2015 to 2023. By the end of 2016, this revenue is expected to reach US$6.69 bn, and US$11.09 bn by the end of 2023.

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The Osteosynthesis Devices Market is segmented on the basis of expression systemby Device Typeby Material ,by Geography, application, end user and region.

The threat for new entrants is likely to remain moderate to low over the coming years, according to the TMR report. The presence of very strong players, high entry costs, and increasingly stringent regulations and guidelines are disbarring several hopefuls to the market. Patient compliance is becoming a core decisive element in the preference of osteosynthesis devices by patients and healthcare organizations, along with devices with superior safety certificates.

The average rate of failure in metal hip implants is 40%, which is extremely high and needs to be addressed by osteosynthesis device manufacturers as soon as possible. In 2010, DePuy Synthes had to recall nearly 93,000 osteosynthesis devices and implants after being sued for poor product quality. Eventually a settlement of US$4 mn was reached for all patients who were inconvenienced by the faulty implants. Situations such as these are creating a more negative image of the leading osteosynthesis device manufacturers across the world and have created a significant loss of credibility among consumers.

By the end of 2023, the revenue generated from North America by manufacturers of osteosynthesis devices is expected to reach US$4.7 bn. This falls in place with the consistent dominance shown by the region in terms of demand. The key reason for this high demand is the large number of geriatrics in the region. Additionally, the large presence of key players and the high investments in osteosynthesis by governments have also added to the growth in demand for osteosynthesis devices in the region. Osteosynthesis devices are mostly available at premium prices in both North America and Europe. This has not deterred purchasers as the use of premium osteosynthesis devices provides a higher level of treatments to be made available for a problem that is already exceedingly high in priority.

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Summary of Table of Content:

1 Introduction
2 Executive Summary
3 Market Overview
4 Global Osteosynthesis Devices Market, by Material
5 Global Osteosynthesis Devices Market, by Device Type
6 Global Osteosynthesis Devices Market Revenue, by Geography
7 Recommendations
8 Company Profiles

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About TMR

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

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