Articles
Asia Pacific Orthopedic Device Market Future Outlook And Projections, 2018-2025: Ken Research
by Rati Ram Business DeveloperBy Type of Treatment: The Artificial Joint segment has traditionally been the most
revenue generating segment for orthopedic device companies. Trauma segment has
become mature with a lot of players entering the market. The increase in spinal disorders and cervical
diseases has complemented the growth of spinal implants. The revised medical
device regulations in certain countries in Asian region over the years have
dampened the profitability due to rising complexity of import from US and
Europe. Companies have invested in new technology based products and services
that have given rise to Robotic and Minimally Invasive surgeries which require
minimum surgical procedures and short stays at hospitals.
By Type of Joint Implant: The Joint segment has traditionally been driven by knee and hip
joints. Apart from the aging population,
countries such as China are labor intensive hence, their joints wear out faster
as compared to other countries, creating a demand for joints replacement. Also,
most of the Asian countries have designed their healthcare in a way to reduce
the burden and share of out of the pocket expenses for implant surgery; this
trend is majorly driven in Japan and Korea.
Revenues for Artificial Joint market are directly
correlated to geriatric population, number of orthopedic specialty hospitals
and number of orthopedic doctors. With rising life expectancy, increasingly sedentary
lifestyles and surge in incidence of obesity, Asia pacific is expected to
witness a resultant rise in orthopedic device sales.
By Type of Trauma Implant: Due to the low level of
expertise involved in the manufacture of trauma implants, the market has
attained maturity and is an essential source of revenue for the orthopedic
device market. Internal fixations have majorly dominated the market due to the
ease of post surgery procedures.
By Type of Spinal
Implant: Continued growth is expected
in the spine market over the long term because there is an increasing demand
for motion preservation technologies. Fusion devices still make up the largest
market share for spinal devices due to the high cost of surgery, but the
non-fusion market is expected to grow through 2025.
By Type of End User: With the increase in
disposable income in most of the Asian countries, most of the individuals are
now able to afford better healthcare. This has led to an increase in influx of
patients in big multispecialty hospitals in some regions. However, with
increase in the number of orthopedic doctors, the number of orthopedic
specialty hospitals is expected to increase in coming years. Another added
advantage of orthopedic specialty hospital is the less amount of Capex required
as compare to multispecialty hospitals.
Asia
Pacific Orthopedic Device Market Competition Scenario
The
competition in the Asia
Orthopedic Device market is concentrated among ~ players to the extent
of ~%. The market was observed to have more than ~ players operating; with just
~ companies operating globally. While companies compete on the basis of profit
margins offered towards the bottom of value chain, the shift is more towards
physicians as they act as major influencers for consumer’s choice.
Asia Pacific Orthopedic Device Market Future Outlook And
Projections, 2018-2025
The future
projections in the Asia Pacific Orthopedic Device market is forecasted to grow
from USD ~ Million in 2018 to nearly USD ~ Million by 2023, at a CAGR of ~%.
The growth is expected due to increase in local manufacturing in the Asia
Pacific region because of the initiatives taken by the government to promote
domestic manufacturing in order to reduce dependence on imports, however less
developed nations are expected to rely on imports from Asian nations or from US
or Europe.
China Orthopedic Device Market, 2013-2023
Market
Overview And Size, 2018-2023
The China Orthopedic Device Market attained an
absolute growth of ~% with revenue of USD ~ million for the duration of
2013-2018. The reported CAGR for the period 2013-2018 was evaluated at ~%.
Specifically, the overall market share of Artificial
Joints in Orthopedic Medical Devices is ~%, remaining the largest with a CAGR
of ~% for the Period 2013-2018. However, its growth has slowed down due to the
deceleration of the national construction industry and stricter drunk driving
control in China.
In Comparison with Other segments, as China evolves
into an aging society, the growth of the joint and spine OMD has speed up; hip
joint segment is expected to grow with highest CAGR as compared to knee at ~%
for the period 2018-2025.
With China’s focus on localization of Orthopedic
Medical Devices, the domestic manufacturers’ market share has been increasing,
with 2018 market share at ~% based on revenue generated in the market.
China
Orthopedic Device Market Segmentation, 2013-2018
The market for Treatment includes Joints, Spine,
Trauma, Orthobiology and Sports medicine.
The end user includes Multispecialty and Orthopedic
Specialty hospitals, with Orthopedic Specialty holding nearly ~% of the market
share, while the Multispecialty segment accounts for ~%.
Other segments include by Type of Joint. This Knee segment accounts for nearly ~% of
the market.
China
Orthopedic Device Market Competition Scenario
The
competition landscape in China is concentrated, with nearly ~% market by
revenue held by ~ companies for the 2018.
Global
Companies acquire a market share of due to recent mergers and
acquisitions in the market.
Jie Tabang is the third
largest company in terms of total revenue for 2018. The company has held an
average market share of nearly ~% during the period.
China
Orthopedic Device Market
Future Outlook and Projections,
2019F-2025F
With
the gradual establishment of a legal environment in China and the rapid growth
of the industry, China's orthopedic device market has become the Asia Pacific’s
largest market. The CAGR for the period 2018-2025 of China's orthopedic device
industry is expected to be ~%.
The dependence on Imports
for the orthopedic devices is expected to decrease to ~% in 2025.
For more information on the research
report, refer to below link:-
Orthopedic
Device Industry Research Report
Related
Reports
Contact Us:
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249
Sponsor Ads
About Rati Ram 
Business Developer
173 connections, 3 recommendations, 575 honor points.Joined APSense since, February 12th, 2014, From Gurgaon, India.
Created on Jan 22nd 2020 04:29. Viewed 302 times.
