03.13.09
Memphis Mingle
Industry leaders to discuss orthopedic manufacturing’s future at first ODT Forum.
Michael Barbella
Orthopedic device manufacturers and their outsourcing partners will meet in May for the first-ever ODT Forum, an event designed to foster a discussion among industry leaders about the state of orthopedic manufacturing. The one-day conference will be held May 20 at the FedEx Institute of Technology at The University of Memphis in Memphis, Tenn.
Through targeted panel discussions and real-world case study presentations, the forum will explore the factors shaping the future of orthopedic manufacturing. Ronald Clough, vice president at Theken
The FedEx Institute of Technology at the University of Memphis, where Orthopedic Design & Technology will hold its first forum. Photo courtesy of the University of Memphis. |
If market reports are any indication, tremendous growth opportunities loom on the horizon for orthopedic manufacturers. A report by Global Markets Direct, a firm that provides research and market analysis, concludes that artificial joints, spinal implants and orthobiologics are driving revenue growth and investor interest in the global orthopedic devices sector.
Valued at $12.2 billion last year, the global joint reconstruction (artificial joints) market is expected to grow by more than 9 percent annually to reach $17.4 billion by 2012, according to the Global Markets Direct report. Key growth segments within the joint reconstruction sector include gender-specific knee implants and hip and knee resurfacing product lines, according to the report.
One of the key factors driving future growth opportunities for orthopedic manufacturers is the demand for joint replacement products and procedures. The worldwide recession may curtail that demand a bit, but the need for joint replacement procedures is still projected to grow over the next five years as the baby boom generation ages and the number of sports-related injuries among young athletes rises.
In addition to discussing the future of orthopedic manufacturing, participants at the ODT Forum will learn how to improve supply chain relationships, better understand the R&D landscape and the challenges faced by start-up firms (see page 57 for the complete agenda). These issues are critical to a company’s success and can help manufacturers become more competitive in the global marketplace.
The ODT Forum is being held in Memphis, the nation’s second-largest orthopedic manufacturing sector (Warsaw, Ind., is number one). Since 1999, employment in the city’s biomedical device sector has increased 50 percent, more than four times the national rate, according to the Memphis Regional Chamber. More than 6,000 Memphis residents work in orthopedic device manufacturing at the half-dozen device firms in the area, including Smith & Nephew Orthopedics, Wright Medical Technology Inc., Medtronic, Symmetry Medical, NuVasive Inc., and Doosan, a Korean manufacturer of specialized lathes and milling devices.
Orchid and Tegra Medical are gold sponsors of the ODT Forum. Autocam Medical, Boston Centerless, Donatelle, EPTAM Plastics, Five Star Manufacturing, Hoosier, Judson A. Smith Company, Knight Mechanical Testing, Mack Molding, Medicraft Inc., Metal Craft, Morris Technologies, Micro-Vu Corporation, Oberg Industries, Onyx Medical, Riverside Machine & Engineering, Seabrook International, Supra Alloys Inc., and Westlake Plastics Company are silver sponsors. Microcision LLC is a supporting company.