Orthopedic Capital Of The World Strategizes For Growth
Now generating more than $11 billion in annual revenues, the global orthopedics sector concentrated in Warsaw, IN represents more than half the U. S. market share and more than one-third of the world's market for developing orthopedic medical devices. How does an industry contained within a community continue to maintain its strong economic presence and position itself for future growth?
BioCrossroads, Indiana's organization for investment, development and advancement of the state's signature life sciences strengths, explores and outlines a series of action-oriented responses to this question in a new published report; Warsaw, Indiana: The Orthopedics Capital of the World – An Overview, Analysis and Blueprint for Future Industry and Community Growth.
The report represents one of the most comprehensive studies ever conducted of Indiana's outsized share of this remarkable industry, and it suggests a range of broadly supported steps that the industry, the community and the State can pursue to ensure this sector continues to thrive on Hoosier soil. Initiated through a planning grant funded by the Lilly Endowment, Inc., the BioCrossroads report reveals stunning statistics that highlight the growth of a sophisticated business sector and the community supporting it:
- Kosciusko County has grown its Health & Biomedical employment base by 39 percent since 2001, compared with 15 percent for both Indiana and the U.S.
- In 2007, the concentration of jobs in Kosciusko County in the medical devices and equipment category had a location quotient of 51.86, which is nearly 50 times that for the national average.
- If compared with larger metropolitan areas, the Warsaw, IN micropolitan area (population 12,500) would rank as the 15th largest regional employer in medical devices and equipment in the U.S.
“The Warsaw orthopedics community is one of the most robust and concentrated medical equipment development sectors in the world, and a world-class economic asset that powers growth for all of Indiana," said David Johnson, President and CEO of BioCrossroads. "The integration of all this research has resulted in a picture of an industry cluster in Warsaw, that is currently robust, respected and globally competitive.
“While this orthopedics device sector has been tremendously successful to date, our research and the truly global scale of this sector's reach make it very clear that global pressures now confronting our whole economy, including all our life sciences sectors, have sparked a broadly perceived need for a community and industry engagement strategy focused on education, talent recruitment and retention, workforce and community development to ensure sustainability,” Johnson added.
“The medical innovation coming out of Warsaw is some of the best in the world, so it's critical that we have a plan for sustainability and growth. With true and widespread business and community participation, BioCrossroads has created a roadmap to move us forward, and we are fortunate to have such an action-oriented champion for our community," said Cheryl R. Blanchard, Ph.D., Chief Scientific Officer and Senior Vice President, Zimmer, Inc.