The China orthopedic industry is expected to grow through 2017, according to a Research in China report.
The Chinese orthopedic instrument market grew 19.2 percent from 2009 to 2013 due to an accelerated aging population and rising medical expense reimbursement. Here are 12 things to know about the orthopedic implant market in China:
1. Trauma, spine and joint products are the three dominant segments of orthopedic instruments in China.
2. Trauma products held 36.9 percent market share in 2013.
3. Both foreign and domestic companies are now speeding up orthopedic instrument layout through mergers and acquisitions.
4. Johnson & Johnson, Zimmer, Medtronic and Stryker are among the top companies dominating the Chinese orthopedic instrument market with 40 percent to 50 percent market share.
5. In recent years, local Chinese companies like Shandong Weigao Group Medical Polymer, Shanghai Kinetic Medical and United Orthopedic made research and development progress along with production technology upgrades to grab some market share.
6. Local Chinese medical device companies offer cost and channel advantages to gain additional market share.
7. Shandong Weigao Group Medical Polymer is the largest local orthopedic company with 4.3 percent of the market share.
8. Shanghai Kinetic Medical has about 50 percent of the Chinese percutaneous kyphoplasty market, making it the leader in vertebroplasty interventional operation systems.
9. United Orthopedic heads the artificial knee/hip joint market among local companies with 4 percent to 6 percent market share.
10. Medtronic acquired China Kanghui in 2012, which was the most competitive orthopedic device maker in China.
11. In September 2011, MicroPort entered into the market by purchasing Suzhou Best and acquired Wright's OrthoRecon business for $290 million in January 2014
12. Stryker also got into the game by acquiring Trauson, China's largest trauma products maker, in January 2013.