Orthopaedic Industry Expected to Continue to Grow in Mid to High Single Digit Range Despite Healthcare ‘Reform’
CHAGRIN FALLS, Ohio, June 16 /PRNewswire/ — Renowned orthopaedic industry expert Shirley A. Engelhardt kicked off the 6th Annual Orthopaedic Manufacturing & Technology Exposition and Conference (OMTEC) this morning, reminding attendees that although 2009 showed the slowest growth in nearly 15 years, all segments but spine saw an upturn in 1Q10.
“Fracture fixation and soft tissue repair can expect to experience the most robust growth – fracture fixation because it is typically non-elective, and soft tissue repair because it largely affects a younger patient whose return to productivity is vital,” commented Mrs. Engelhardt. “Contrarily, recon and spine are expected to undergo significant scrutiny, as both involve high ticket items used in a high volume of procedures. Proof that these procedures not only have clinical benefits but economic ones, as well, will be a requirement.”
Mrs. Engelhardt went on to emphasize that each segment is facing its own challenges due to healthcare “reform,” increasing power and unpredictability of FDA, and the ever-increasing shift from surgeon as decision maker to hospital as decision maker. “Despite these game-changing challenges, opportunities abound for industry leaders to reposition their business models and thrive.”
Shirley Engelhardt, President and Founder of ORTHOWORLD and Founding Member of Knowledge Ventures, LLC, is one of more than 20 thought leaders presenting to hundreds of orthopaedic industry device company decision makers at OMTEC inChicago, Illinois on June 16 and 17. For more information about OMTEC, please visit the ORTHOWORLD website atwww.orthoworld.com.
About ORTHOWORLD
Founded in 1992, ORTHOWORLD is the only producer of strategic intelligence in the world solely focused upon the orthopaedic industry. Its singular mission is helping orthopaedic companies and individuals improve their performance.
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