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Manufacturers of major orthopedic implant have a wide range of strategies available to them, The Business Research Company’s new report Major Orthopedic Joint Replacement Implants Global Market Opportunities And Strategies To 2022 has shown. The strategies are aimed at both boosting the market, which is growing at only 3% a year, and at gaining market share.
Acquisition is a key strategy being pursued by top orthopedic device companies such as Zimmer Biomet, Stryker, and Smith & Nephew, though with varying objectives. Smith & Nephew is strategically acquiring companies to expand its business in established markets such as the USA, especially with a view to gaining a foothold in the field of orthopedic robotic surgery. Acquisition is the first priority of Stryker Corporation, which has made more than 40 acquisitions in the last six years; most recently these have been aimed at enhancing its product portfolio, guided by core business adjacency. Strategic alliances are another possibility. This strategy is being pursued by Depuy Syntes. Its alliance with Value Stream Partners, LLC, enables the company to support providers, healthcare systems, and governments with a triple aim of improving clinical outcomes, increasing patient satisfaction and lowering overall costs.
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Organic growth strategies range from innovation to cost transformation. Zimmer Biomet is spending 5% of its total sales revenue on research and development, while B. Braun Melsungen’s R&D is focused on new products in order to maintain and expand its customer base. Stryker has a detailed strategy for cost transformation involving product line rationalization, indirect procurement, global enterprise resource planning (ERP) system implementation, shared services and manufacturing site consolidation.
Other strategies are strongly suggested by the market numbers. One is to focus on knees, rather than hips. The market currently splits 53.4% knees, 46.6% hips, but the knee segment is growing faster, so that by 2022 the split will be 55% knees, 45% hips, and the knee segment will have grown by nearly $1 billion more of annual sales than the hip segment. Again, a focus towards polymers rather than metals is likely to pay dividends, the numbers suggest.
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Read the Major Orthopedic Joint Replacement Implants Global Market Opportunities And Strategies To 2022 report from The Business Research Company for information on the following:
Markets Covered: Major orthopedic joint replacement implants market
Major Orthopedic Implants Replacement Market Companies Covered: Zimmer Biomet, Depuy Syntes, Stryker, Smith & Nephew, Aesculap, Exactech, DJO Global, Corin Orthopedics
Regions: North America, Asia Pacific, Western Europe, South America, Eastern Europe, Middle East, Africa.
Countries: USA, China, UK, Japan, France, Germany, Australia, India, Spain, Russia, Italy, Brazil
Time Series: Five years historic (2013-17) and forecast (2017-21).
Data Segmentations: Major orthopedic joint replacement implants market historic and forecast size and growth rates for the world, 7 regions and 12 countries, major orthopedic implants market segmentation by type of joint (knee replacement implant, hip replacement implant), by facility (in-patient care, ambulatory care), by type of fixation (cementless, cemented, hybrid), by type of material (ceramics, metals, polymers), and by type of material combination (metal on polymer, ceramic on polymer, ceramic on ceramic, metal on metal, ceramic on metal) market shares, historic and forecast size and growth rates for the world, 7 regions and 12 countries, global competitor sales and market shares.
Other Data: Per capita average major orthopedic joint replacement implants market expenditure, global and by country, major orthopedic joint replacement implants market size as a percentage of GDP, global and by country; major orthopedic joint replacement implants market customer information, global number of major orthopedic joint replacement implants market enterprises for 2017, average major orthopedic joint replacement implants market revenue per enterprise for 2017, global number of employees in the major orthopedic joint replacement implants market for 2017, and average revenues per employee in the medical equipment industry for 2017- by country
Other Information: Drivers and restraints of the major orthopedic market, PESTEL analysis, orthopedic trends, company profiles including products, strategy and financial performance for 5 major orthopedic joint replacement implants market companies, major orthopedic joint replacement implants market trends and strategies, key mergers and acquisitions in the major ortho market.
Sourcing and Referencing: Data and analysis throughout the report are sourced using end notes. Sources include primary as well as extensive secondary research.
Number of figures in the report: 141
Number of tables in the report: 153
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