New technologies and an increasingly older population are two of the major driving forces within the market. By 2015, the advanced orthopedic technology and product market is likely to reach $32.4 billion, with a compound annual growth rate from 2010-2015 of 2.7 percent.
The global cartilage and soft tissue repair and regenerative product market alone realized sales of approximately $1.3 billion in 2010, with a CAGR of 3.7 percent expected to drive sales to $1.6 billion by 2015. Worldwide, the total joint replacement, implant and regenerative product markets generated approximately $23.8 billion in 2010, with a CAGR of 2.4 percent expected to drive those sales to $26.8 billion in 2015.
Read the news release about the advanced orthopedic market.
Read other coverage about medical devices:
– FDA Releases Final Rule on Software, Hardware Used With Medical Devices
– Anesthesiology Devices Recalled After Weak Oversight by FDA
– Study: Recalled Medical Devices Were Cleared Through Less-Stringent 510(k) process
