According to Millennium Research Group (MRG), the global authority on medical technology market intelligence, the European market for small-joint reconstructive implants will double by 2014, reaching almost $360 million. MRG's European Markets for Small-Joint Reconstructive Implants 2009 report finds that as new product designs emerge and device manufacturers focus more aggressively on sales and marketing, public awareness of the treatments and products available will improve, which in turn will prompt more patients to consult their physicians and ultimately undergo small-joint reconstructive procedures.
In recent years, the European market for reconstructive hip and knee implants has grown rapidly and is now maturing. Manufacturers will increasingly focus on the small-joint reconstructive implant market in order to continue to boost their revenues. For example, companies will design and produce new implants such as modular shoulder implants and reverse fracture implants. Because a relatively small number of products were available in this market in 2009, the release of novel implant technologies will support market expansion over the next five years.
"New product launches will be accompanied by greater sales and marketing activity, along with increased surgeon training," says Melissa Hussey, Analyst at MRG. "As a result, awareness will rise among potential patients, and more surgeons will gain proficiency in performing the procedures, increasing the accessibility of these treatments for patients. These marketing initiatives will drive demand and therefore market expansion through 2014."