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ORTHOWORLD Inc., a customer-centric media company exclusively serving the global orthopedic market, announced the release of its 2020 market projections to Members.
“While the market rebounded impressively through the third quarter, that momentum quickly flattened as the surgical backlog depleted. New patient acquisition is improving, but volumes are only about 90% of their historical norms,” said Mike Evers, Digital Content Strategist for ORTHOWORLD. Patient confidence and employment-based medical coverage are at risk due to the COVID winter surge. According to the COVID Tracking Project, daily cases and hospitalizations are shattering previous records in the U.S. and daily deaths are trending toward new highs.”
With these factors in mind, ORTHOWORLD estimates that the orthopedic market will decline by -10.1% in 2020. Both the hip and trauma segments maintained relative resilience through the year, while knees and sports medicine stayed under significant pressure. Of the top-tier players, Stryker continued its trend of outperforming its peers. In the mid-tier, Globus Medical, DJO, SeaSpine and ATEC are all in prime positions for share gains in 2021.
“To help Members digest our analysis of major industry trends and projections, I prepared a 20-minute webinar, a downloadable data file and an article summarizing our expert takeaways,” added Mr. Evers.
“As the situation evolves, so too will our projections and analysis,” said Carolyn LaWell, Chief Content Officer of ORTHOWORLD Inc. “Members in our orthopedic community trust us to provide the strategic intelligence they need to move themselves and their companies forward.”