Business News
Economic Expansion Opens Doors for Orthopedic Devices in Latin America
2008-08-21 07:59:00
By 2012, the Brazilian market will grow to over $460 million, according to Millennium Research Group WALTHAM, Mass., Aug. 21 /EMWNews/ -- Millennium Research Group's (MRG's) Latin American Markets for Orthopedic Devices 2008 report series, which includes coverage of Brazil, Mexico, Argentina, and Colombia, indicates that reconstructive joint implants represent the largest and fastest-growing orthopedic device segment across all four countries. Brazil, which has the largest reconstructive joint implant market in the region, valued at over $100 million dollars, will see this market rise at a 15% compound annual growth rate from 2007 to 2012. Sustained economic growth in Latin America has allowed businesses to develop and expand, generating additional jobs for citizens. New employment reduces dependency on publicly-funded health care as patients transfer to the contribution-based or private insurance sectors. These sectors maintain higher per capita budgets than the strained public sector and are therefore better equipped to purchase premium-priced technologies and more expensive imported implants. "Expansion of the private health care market will drive adoption of premium-priced technologies such as hip resurfacing implants and cementless components," says Andrea Cheng, Senior Analyst. "Elevated demand for these technologies will contribute to rising device average selling prices, which will promote overall market growth." The Latin American Markets for Orthopedic Devices 2008 report series covers Brazil, Mexico, Argentina, and Colombia. Each report also covers spinal implants and trauma fixation. Industry competitors include Abbott Spine, Acumed, B.Braun Aesculap, DePuy, Disc-o-Tech, Medtronic Spinal and Biologics, Orthofix, Smith & Nephew, Stryker, Synthes, Wright Medical Technology, Zimmer, and many more.
About Millennium Research Group Millennium Research Group (http://www.MRG.net), a Decision Resources, Inc. company (http://www.DecisionResources.com), is the global authority on medical technology market intelligence and the leading provider of strategic information to the health care sector. The company provides specialized industry expertise through published reports, ongoing Marketrack(TM) projects, and customized solutions. All company, brand, or product names contained in this document may be trademarks or registered trademarks of their respective holders.
For more information, contact: Amy Krohn Millennium Research Group 416-364-7776 x101 [email protected]
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