Consolidation at the hospital level and the OEM level has led to significant M&A activity on the supplier side in 2014 and 2015. Greatbatch completed its acquisition of Lake Region Medical, forming a company with annual revenues of ~$1.5 billion (includes non-orthopaedic) and expanding the list of suppliers pursuing nonorganic growth strategies.
Major medical device manufacturers from the U.S. and Europe occupy a large portion of the orthopaedic markets in Japan, China, India and other Asian markets. DePuy Synthes, Medtronic, Stryker, Zimmer and others all compete with local domestic manufacturers.
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Prudent manufacturers already know that the deployment of human factors and usability engineering go beyond meeting regulatory requirements. Manufacturers can leverage their programs to cut costs, mitigate risks and understand how they stack up to competition in the market.
The extremities market is one of the most attractive and fastest-growing sub-segments in the industry. The convergence of increased surgeon interest, favorable procedure rates and implant and instrument innovation drives investments by OEMs that seek revenue streams outside of hip, knee and spine.