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Patents are used to1. Create a monopoly for a limited time. 2. Extract licensing fees from the market.3. Transfer Rights from the Inventor to a company.
Note that most licensing business is done before the patent is granted. Patents are written for the investor/partner/competitor
1. The global orthopedic device market $41.2 billion by 2019. compound annual growth rate of 4.9 %.
2. Elderly population - osteoporosis, osteoarthritis, bone injuries, obesity: Growth : Middle East, China, India and other Asian countries.
3. Technology advancements — particularly bioabsorbable implants — coupled with the increased success rate of these implants and fixators in emerging markets.
4. The orthopedic knee devices are largest share of the total orthopedic device market revenue in 2012. But, product recalls may cause decline in United States and European markets over the next five years.
5. The global market for hip devices : compound annual growth rate of more than 5.9 percent through 2019 high rate of hip fractures and demand for hip replacement procedures.
6. The orthopedic consumables market -anchors and staples —$457 million by 2019. Anchors are 80 percent of the market share in 2019.
7. North America dominates the global orthopedic device market. Bioabsorbable implants, growing elderly population and increasing obesity in the United States will contribute to North America's leadership in the market.
8. US healthcare spending growth 4.4 percent, Healthcare reform will likely create more consolidation and pressure to control costs. Europe was the second largest regional market for orthopedic devices in 2012. Increasing demand for drug eluting stents and infusion pumps. Europe expected to have slow healthcare spending growth.
9. Asia-Pacific market will be the fastest growing region in the world for orthopedic devices. Middle Eastern countries 10 percent ,China 14% India 17% Spinal implants and bone growth substitutes, the Asia Pacific market is expected to reach $7 billion by 2022, according to a Decision Resources Group report.
10. The major players in the global hip and knee orthopedic devices market are DePuy Synthes, Zimmer and Stryker. Medtronic, DePuy, Stryker and NuVasive dominate the overall spine device market. There have been huge financial transactions among these companies recently consolidation is expected to continue in the short term. The biggest transactions from 2014 include Zimmer's $13.4 billion merger with Biomet and Medtronic's $42.9 billion acquisition of Covidien.
Few IL patents are owned by “Big Ortho”IL is not extracting the licensing fees available.IL companies, hospitals, TTO’s Universities, and inventors are not reaching their investment potential.
Solution :
Study the patents of “Big Ortho” top 10 THEN strategize IL R&D and patent portfolios.For IL companies, “Big Ortho” is the end user, not the patient.Through “Big Ortho” you will you get to the patient and the licensing fees and the investment.
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