ConMed’s Ortho Franchise Prioritizes Pipeline Over External Growth
ConMed’s ambitions in orthopedics are to be the clinician’s support, develop differentiated offerings and avoid “me too” activity, before all notions of leading the market rankings.
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ConMed Corp. is company of two halves ̶ general surgery and orthopedics – and is readying itself for a renewed assault on these two markets on the back of a technology pipeline, targeted acquisitions and a new growth-winning culture, says CFO Todd Garner.
The global market for arthroscopy products and sports medicine devices is expected to reach $9bn by 2023, a CAGR of 4.2%, driven by technological advancements, improved surgical techniques and a growing number of surgeons performing minimally invasive surgeries. With hip fixation devices expected to see double-digit growth by 2023, we'll take a closer look at recent technological innovations driving this sector, the key players, and also offer viewpoints from four orthopedic surgeons on what is driving their decision to adopt technologies. We'll also highlight the latest arthroscopes on the market, which is the fastest-growing segment in the global arthroscopy products market.
The trend among device innovators to focus on diagnostic technologies that improve imaging, offer better visualization of tissues and avoid the need for biopsies is well noted by full-service law firm CMS. Its equIP program supports many start-ups incorporating AI into products and development processes.