össur annual report2009 - Euroland

Össur is in the business of keeping people mobile with innovative, noninvasive
products. Össur offers advanced products in three categories:
Bracing and SupportS: Products for therapeutic and
preventive purposes
proStheticS: Artificial limbs and related products
compreSSion therapy: Products for treatment of
vascular disorders, ulcers and oedema
reiMburseMent & healthcare
reforMs
The majority of Össur’s products are reimbursable
through various public and private reimbursement
schemes. Reimbursement systems vary substantially
between countries and product markets.
With regards to the healthcare reforms in the US, possible
effect on the Company’s operations remain unclear.
As some elements of the healthcare bill are still being
discussed it is difficult for management to comment on
the possible effect on the Company. However, it is not
likely to have material effect in 2010.
Market
The estimated size of the non-invasive orthopaedic
market in the Americas, EMEA and Asia, in which Össur
operates, is estimated to be around USD 4,550 million in
2009, and growing 3% to 4% annually4 .
4. According to Frost & Sullivan industry analysis and Össur‘s management estimates.
annual report 09
10
non-invasive orthopaedics
market drivers and restraints
drivers +
○ new technologies
○ aging population
○ increased instances of obesity
○ increased prevalence of
diabetes and vascular diseases
○ increased health awareness
and demand for higher
quality of life
Market segMent Market size*(usd Millions) Market groWth Össur Market share
bracing and supports 2,700 3-5% 6%
prosthetics 700 3% 21%
coMpression therapy 1,150 7-8% 6%**
* According to Frost & Sullivan industry analysis and Össur’s management estimates.
** Össur market share in France.
○ efforts to hold back growth
in healthcare expenditures
○ changes and limitations in
reimbursement systems
○ advances in vascular surgery
○ pain medication
○ improved invasive procedures
restraints -