A report has suggested that a number of factors are leading to rising demand in eastern Europe for orthopaedic implants.
Surging obesity rates, an expanding ageing population and an increase in the number of minimally invasive orthopaedic procedures is leading to growth in the market, according to a study by consultancy firm Frost & Sullivan.
“The higher incidence of orthopaedic ailments that comes with an aging population is motivating the uptake of orthopaedic implants,” said Frost & Sullivan research analyst, Sabita Ramachandran.
Although the orthopaedic implant market in eastern Europe is facing challenges, such as price erosion, budgetary constraints and problems with reimbursement, researchers estimate the market to earn $97 million in 2014, compared to $69.4 million in 2007.
However, the report suggests that the progressive decline in prices caused by cost-cutting measures needed to accommodate healthcare budget deficits will act as a brake on market growth. The falling ratio of working to non-working population will have a similar effect, despite the ageing population increasing the demand for orthopaedic implants.
“Cost-cutting measures are being incorporated by market participants to ensure that they can stay competitive and accommodate tight healthcare allocations by governments,” said Ms Ramachandran. “An increase in sales, therefore, does not necessarily translate into a rise in revenues.”
Frost & Sullivan