The China orthopedic instrument market is expected to grow significantly over the next few years, according to a new report from ReportBuyer report.
Here are eight key trends from the report:
1. The China orthopedic instrument market grew at a compound annual growth rate of 19.2 percent from 2009 to 2013.
2. Trauma products held the biggest market share — 36.9 percent — in 2013.
3. Both foreign and domestic companies are speeding up layout in the orthopedic instrument market in China through mergers and acquisitions, including:
• Medtronic acquiring China Kanghui for $816 million in 2012
• Stryker purchasing Trauson Holdings in 2013
• MicroPort Scientific purchasing Suzhou Best in 2011
4. The China orthopedic instrument market is dominated by Johnson & Johnson, Zimmer, Medtronic, Stryker and a few other foreign companies, holding 40 percent to 50 percent of the market share.
5. Local Chinese companies are making progress in research and development, and technology production. Notable local companies include Shandong Weigao Group Medical Polymer, Shanghai Kinetic Medical and United Orthopedic Corporation.
6. Shandong Weigao Group Medical Polymer is the largest local orthopedics company in China, holding 4.3 percent of the market share.
7. Shanghai Kinetic Medical leads in vertebroplasty, holding 50 percent of the Chinese percutaneous kyphoplasty market.
8. United Orthopedic Corporation is the local leader in artificial knee and hip joints with 4 percent to 6 percent of the market share in China.