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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Johnson and Johnson | NYSE:JNJ | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
-0.22 | -0.15% | 149.70 | 149.89 | 147.82 | 149.89 | 6,532,721 | 00:38:06 |
LONDON and NEW YORK, April 27, 2015 /PRNewswire/ --
The recently published report, 'India Joint Replacement - Market Size, Procedure Volume, Growth Trend at City, State and National Level' provides a detailed analysis of joint replacement surgeries in 740 hospitals from more than 200 cities. It reviews market drivers, restraints, historical trends and forecasts (for the period from 2007 to 2020), annualised trends for sales in terms of value and volume (in dollar terms and units), market growth, pricing, competitive landscape and market share. It offers a cross-category comparison for THR and TKR (Total Hip Replacement and Total Knee Replacement) as well as shoulder joint replacement for the historical and forecast period.
(Photo: http://photos.prnewswire.com/prnh/20150427/740870 )
Why one should buy this report
The joint replacement market in India grew in double digits between 2007 and 2014. The joint replacement market comprises Total Hip Replacement (THR), Total Knee Replacement (TKR), partial knee replacement, partial hip replacement, shoulder joint replacement and other small joint replacement surgeries. Of these, THR and TKR account for the bulk of revenues.
The key factors fuelling the growth of joint replacement surgeries in India are an increasing number of trained joint replacement surgeons, aging population, sedentary lifestyle, rising health care expenditure, improved healthcare infrastructure and medical tourism. Improved implant designs and a wide choice of implants have also helped surgeons choose the implant that best suits the needs of each patient.
As per ABMRG's study, in India most people above 60 years suffer from some kind of bone and joint disease and many of them have an immediate need for joint replacement surgery. High prevalence of arthritis primarily in north and south India and increasing prevalence of osteoporosis among post-menopausal women in urban areas who follow a sedentary lifestyle have stimulated the growth of the joint replacement market. Availability of trained orthopaedic surgeons and improved facilities in hospitals have also increased the number of patients opting for joint replacement surgeries. Unlike in western countries, in India the fear of failure of surgery and post-surgery infections among the patients do not affect the joint replacement market as most patients are ignorant about complications and history of product recalls.
India has also witnessed a boom in medical tourism over the years due to longer waiting time for joint replacement in European countries, very limited availability of doctors with expertise in joint replacement procedures in Africa and the Middle East and low procedure costs for joint replacement surgeries in India. In addition to cost benefits, a large number of NRIs prefer to get the procedure done in India as they have high level of confidence in Indian surgeons' expertise.
The Indian joint replacement market is packed with local and multinational companies. Despite higher prices and a history of product recalls, MNCs dominate the Indian market due to surgeons' preference and patients' desire for imported implants. In mid to long term, we expect local companies to steal the market share from MNCs. However, MNCs are anticipated to lead the rally at least for another decade.
The key players in the India joint replacement market are Aesculap, a division of B. Braun Melsungen AG; Biomet, Inc.; Orthovasive, a division of Biorad Medisys Pvt. Ltd; DePuy Medical Pty. Ltd, a subsidiary of Johnson & Johnson (NYSE: JNJ); Exatech, Inc.; Maxx Medical Pvt. Ltd; Smith & Nephew plc (NYSE: SNN; LSE: SN); Stryker Corporation (NYSE: SYK) and Zimmer Holdings Inc (NYSE: ZMH, Nasdaq: ZMH).
The report on joint replacements in India also outlines joint replacement product pipeline and highlights findings of global clinical studies. In addition, it lists developments in the global industry over the last two years, including M&As, partnerships, clinical studies, pipelines, product approvals and launches, recalls and litigations, market dynamics, market drivers and restrains.
Other strategic market reports:
http://www.abmrg.com/APAC-Joint-Replacement-And-Joint-Reconstruction-Market-Through-2020.html
http://www.abmrg.com/Australia-Joint-Reconstruction-Market-Outlook-2007-2020.html
http://www.abmrg.com/UK-Joint-Reconstruction-Market-Forecast-To-2020.html
http://www.abmrg.com/India-Joint-Reconstruction-Market-Trends-Forecast-To-2020.html
http://www.abmrg.com/European-Hip-Replacement-Market-Through-2020---Opportunities-Trends-And-Pipeline-Analysis.html
About ABMRG
ABMRG (Ace Business and Market Research Group) is a research and consulting firm focused on medical technology and pharmaceuticals. It offers comprehensive research and analytical studies targeting company, country and therapeutic sector, highlighting market dynamics, vital trends, business strategies, clinical pipeline and technology advancements. Its cutting edge reports empower companies to make smarter, effective and faster strategic decisions for business growth.
Contact:
Ankit Jian
+91-8238155239
+91-261-2216406
sales@abmrg.com
19@abmrg.com
SOURCE ABMRG
Copyright 2015 PR Newswire
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