Surgical Sophistication (ODTMag)
Surgical instrumentation continues to be a strong market within the orthopedic industry. Aging baby boomers, who are eager to stay active, are keenly interested in orthopedic products. They have high expectations for joint surgeries; combined with the Affordable Care Act’s emphasis on improved patient outcomes, and cost-saving initiatives by healthcare systems, these impactors drive innovation and sales for orthopedic OEMs and their supply-chain partners.
Growth is also fueled by numerous mergers and acquisitions within the industry. Leaders in the orthopedic space continue to diversify through acquisition so they can capitalize on growth opportunities. With solid business models and proven track records, they can offer a broader line of products, including legacy devices, which generate more sales growth.
For example, Phillips Precision Medicraft, an Elmwood Park, N.J.-based contract manufacturer of advanced orthopedic implants, instruments, and sterilization delivery systems, enjoyed double-digit growth in 2016—in part driven by an increase in legacy products and product transfer activity across its business portfolio. “The growth in legacy produc...
