A new study by Indianapolis-based BioCrossroads puts some figures to what many people in northern Indiana already knew — that Warsaw’s niche as a global orthopedics hub is no joke. Inside INdiana Business has the press release:
Now generating more than $11 billion in annual revenues, the global orthopedics sector concentrated in Warsaw, Indiana, 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 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.
“We’re now in the process of developing a Warsaw-based, regionally focused organizational initiative that can better define and prioritize the challenges and opportunities, and then seek funding to bring the best and most responsive ideas to life,” Johnson added.
Personally, I’m working on an article for the November/December edition of BizVoice about business aviation, which will touch on how Warsaw’s airport has made the community’s climb to the top of the orthopedic world possible. Image Air Charter, an Indiana Chamber member, has had a great deal of success chartering flights for folks in that sector, showing how different companies can truly complement each other to enhance a community.