Just how big is the potential market for your products?
The latest industry data estimates the size of the worldwide orthopedics market at $25 billion as of 2007. Strong growth in the industry is expected to continue, driven by aging baby boomers, the desire for active lifestyles well into retirement, and growth in the incidence of diseases that contribute to orthopedic tissue injuries and impair the ability of the body to heal injuries.
The specific area in which we focus — orthobiologics, which is the development and commercialization of biologically active, regenerative therapies — is leading the transition in orthopedics from passive, mechanical implants to biological solutions designed to enhance the regenerative potential of orthopedic tissues.
As you suggest, it is a growing therapeutic approach in orthopedics. In fact, orthobiologics, in particular bone grafting-related products, is one of the fastest-growing segments within the orthopedics market. According to recent market research reports, the global orthobiologics market was estimated to be $4.2 billion in 2007. With a growth rate of 17 percent, it is projected to almost double by 2012. Given that we are positioned to be one of the leaders of this therapeutic revolution, we are excited about our future growth opportunities.
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