The recent rebound of the orthopedic device market can be tied to creating more jobs and higher confidence in company CEOs, according to a Reuters news report.
Although the demand for orthopedic implants is expected to remain under pressure until the economy improves, the sales of hip and knee replacements are expected to recover as potential patients become employed and gain insurance again, Zimmer CEO David Dvorak said at the J.P. Morgan Healthcare Conference in San Francisco.
He also predicts higher procedure volumes for hips and knees during the second half of 2011, and the market growth will settle at single digits as the economy improves, according to the report. Smith & Nephew shares hit a record high last Monday after declining a takeover bid from Johnson & Johnson.
Smith & Nephew CEO Dave Illingworth told the conference crowd that jobs growth is essential to enhancing orthopedic procedure volumes. Additional trends that drive growth in the orthopedic market include higher rates of obesity and youth sports injuries.
Read the full coverage from Reuters on the orthopedic device market.
Read other coverage on the orthopedic and spine device market:
- Global Orthopedic Instrumentation Market to Exceed $47B by 2015
- William Blair & Co.: 2011 Orthopedic and Spine Device Market Will Be Difficult But Better Than 2010
- Millennium Research Group Outlook for Minimally Invasive Spinal Fusion Market
Although the demand for orthopedic implants is expected to remain under pressure until the economy improves, the sales of hip and knee replacements are expected to recover as potential patients become employed and gain insurance again, Zimmer CEO David Dvorak said at the J.P. Morgan Healthcare Conference in San Francisco.
He also predicts higher procedure volumes for hips and knees during the second half of 2011, and the market growth will settle at single digits as the economy improves, according to the report. Smith & Nephew shares hit a record high last Monday after declining a takeover bid from Johnson & Johnson.
Smith & Nephew CEO Dave Illingworth told the conference crowd that jobs growth is essential to enhancing orthopedic procedure volumes. Additional trends that drive growth in the orthopedic market include higher rates of obesity and youth sports injuries.
Read the full coverage from Reuters on the orthopedic device market.
Read other coverage on the orthopedic and spine device market:
- Global Orthopedic Instrumentation Market to Exceed $47B by 2015
- William Blair & Co.: 2011 Orthopedic and Spine Device Market Will Be Difficult But Better Than 2010
- Millennium Research Group Outlook for Minimally Invasive Spinal Fusion Market