European Orthotics Market to Reach $536 Million by 2010

The European market for orthotics is forecast to expand to U.S.$536.2 million by 2010, according to a new report from Frost & Sullivan (London, UK), international market consultants. This market will be driven by a rise in the elderly population, technologic advances, and supplier-backed end-user education programs.

By 2020, the elderly are expected to comprise almost a quarter of Europe's total population. This will raise the incidence of age-related orthopedic problems such as osteoarthritis, osteoporosis, degenerative disc disease, herniated disc and spondylolysis, triggering demand for orthopedic braces and supports. The increasing use of computer-aided design/computer-aided manufacturing (CAD/CAM) and the development of new materials such as carbon-fiber-reinforced plastics will promote the creation of new products.

Two key challenges will confront orthotics manufacturers. First, continued healthcare reforms and budgetary restraints are placing increasing pressure on prices. Also, poor or low reimbursement for orthotic products presents another challenge.

"In order to maintain viability, it is expected that the industry will experience further acquisitions/mergers to gain and consolidate market share while acquiring new products to exploit prospective niche and emerging markets,” remarked Paul Taylor, a research analyst with Frost & Sullivan. "In addition, it is likely that further joint venture and co-marketing agreements will be created to exploit new technologies, enter new geographic markets, and take advantage of additional distribution networks.”




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