Sales were sluggish in 2009 as many patients deferred surgeries, such as hip and knee replacements, due to fears over funding and taking time off from work. Although hip and knee replacements were more elective than previously thought, analysts say the demand did not "fall off a cliff" and the market should have a gentle recovery, according to the report.
One analyst predicted reconstructive joint sales to move up into the mid-single digits in 2010, up from around 3 percent in 2009, according to the report. Another analyst predicted hip and knees seeing 6 percent growth in the fourth quarter 2009 and growing to 8 percent in 2010.
This recovery is expected as patients who had deferred surgery will be more confident in their finances and taking the required time off of work, according to the report.
Hospitals are expected to continue to encourage physicians to cut costs, as they are still feeling the crunch of lower patient admissions, which will in turn affect the device makers, according to the report. Volume and procedures will increase, but analysts do not see the companies holding much pricing power in the coming year.
Read the Reuters report about the U.S. orthopedics device industry.
Reuters: Analysts Expect Orthopedics Device Market to Rebound in 2010Written by Staff | January 29, 2010
As orthopedics device manufacturers begin to release their fourth quarter results, analysts for the market expect to see demand increase and the market stabilized over the first and second quarters of 2010, according to a report in Reuters.
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