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China's Orthopedic Instrument Industry Growth

Date:24-11-2013

In recent years, there has been steady growth in the orthopedics instrument market in China. Instruments that are used in the diagnosis and treatment (both surgical and non surgical) in the field of orthopedics are called orthopedic instrument. In 2012, the market for orthopedic instrument in China was 9.85 billion yuan. The prospect of the orthopedic instrument market is quite good as the number of patients requiring orthopedic treatment has increased. Last year, there were around 270, 000 joint replacement procedures performed in the nation. The main factors influencing the growth of this sector are rise in population, better healthcare policies and increase in aging population.

Market Overview

With age, there is a greater incidence of joint injury. As such, with the increase in elderly population in China, the demand for orthopedic devices in the market has also increased. The top three product segments in the orthopedic instrument market are spine products, joint products and trauma products. The total market share of these top three product segment made a market share of 82.2%. The market for trauma products was the highest, accounting for a market share of 35.5% which was an increase of 18.24% year-on-year. Presently, foreign companies dominate the market for the manufacture of orthopedic instrument in China. This has been due to the increased investment of foreign-funded enterprises.

The key global market players in the field of orthopedic instrument are Stryker, Medtronic, Biomet, Zimmer Inc. and DePuy. In China, Johnson & Johnson has emerged as the largest manufacturer of orthopedic instruments after the acquisition of Synthes in 2012. In January 2013, Stryker which is one of the largest manufacturers of orthopedic instrument in the world acquired Trauson Medical Instrument Company Ltd. Trauson has excellent R&D facilities and distribution network in China which will enable Stryker to expand its market share.

Some of the challenges that are plaguing China’s orthopedic instrument industry are insufficient production capacity, issues in quality control and insufficient research and development.

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