Asia Pacific Orthopedic Device Market Outlook to 2025: Ken Research
by Rati Ram Business DeveloperThe report titled “Asia
Pacific Orthopedic Device Market Outlook to 2025 – By Country (China, Japan,
India, Korea, RoAPAC), By Type of Treatment (Joint, Spine, Trauma and
Orthobiology and Sports Medicine); and By Type of End User (Multispecialty and
Orthopedic Specialty Hospitals)” provides a comprehensive analysis
of the orthopedic device industry in Asia Pacific. The report covers various
aspects such as market overview and genesis, value chain analysis, industry cycle,
market segmentation by country (China, Japan, India, Korea, Australia, Taiwan,
Thailand, New Zealand, Singapore, Malaysia, Hong Kong, Vietnam, Pakistan,
Indonesia, Bangladesh and the Philippines), type of treatment (joint, spine,
trauma, orthobiology & sports medicine), type of trauma implant (internal
and external fixation), type of spinal implant (fusion and non fusion), type of
joint implant (knee, hip and others) and by type of end user (multispecialty
and orthopedic specialty hospitals); Profiles of major countries (China, India,
Japan and Korea); Competitive Analysis Including Market share in terms of revenue,
Strengths and Weaknesses and Cross Comparison of Major Players along with
market share in Joint, Trauma, and Spine segment. The report concludes with
future outlook and projections and analyst recommendations highlighting the
major opportunities and cautions.
Asia
Pacific Orthopedic Device Market Overview and Size
The growth
in Asia Pacific orthopedic market has been driven by the increase in the
proportion of geriatric population in the Asian regions, especially in China
and Japan. The growth in artificial joints market is majorly due to the increasing
number of osteoporoses cases that has been the major growth driver. Physicians
have been the major influencer for most of the companies and have been driving
major imported brands in most of the regions except China. Increased focus on
R&D by domestic players has forced the MNCs to innovate new products for
the Asian market.
Asia
Pacific Orthopedic Device Market Segmentation
By
Country (China, Japan, India, Korea, Australia, Taiwan, Thailand, New Zealand,
Singapore, Malaysia, Hong Kong, Vietnam, Pakistan, Indonesia, Bangladesh and
the Philippines): China orthopedic device
market held the highest share in the Asia Pacific market and grew at a CAGR of
14.7% in terms of revenue for the review period 2013-2018. The growth was
driven by rise in geriatric population and increase in total number of road
accidents due to the high number of passenger vehicles. Japan followed with a CAGR value of nearly 1.93% for the review
period 2013-2018. The growth was driven by shift of Japan from an aged to a
super aged society with a major chunk of population being 65 years or older.
Majority of the device are imported due to lack of manufacturing
infrastructure, however the country is R&D hub due to its expertise in
innovation and technology. South Korea and India market revenue grew at CAGR of
7.0% and 13.9% in terms of revenue for the outlook period 2013-2018.
By Type of Treatment (Joint, Spine, Trauma, Orthobiology & Sports Medicine): The proportion of artificial joint products is high, and the growth rate of spine and orthobiology and sports medicine products is relatively fast. Since, production technology and entry barriers are not as high as those required for spine and artificial joint instruments, almost all orthopedic companies in Asia have traumatic product lines. The market for traumatic devices is relatively mature with a CAGR of 6.1% in terms of revenue for the duration of 2013-2018, followed by spinal and orthobiology and sports medicine segment.
By Type of Trauma Implant (Internal
and External Fixation): Since internal fixation devices have more post surgery advantages in
terms of independence of movement, the segment dominated in terms of revenue
during 2018, followed by the external fixation segment in Asia orthopedic
device market.
By Type of Spinal Implant (Fusion and
Non-Fusion): Fusion
devices still make up the largest market share among spinal devices segment,
followed by the non-fusion spinal implants in 2018.
By Type of Joint Implant (Knee, Hip
and Others): The joint
market is majorly dominated by Knee and hip with hip being the largest revenue
making segment in Asia orthopedic device market during 2018. As number of
arthritis cases is increasing in the Asian region, the market for knee implants
will also grow in the near future.
By Type of End User (Multispecialty
and Orthopedic Specialty Hospitals): The multispecialty hospitals are expected to grow at
a CAGR of 6.9% for the period 2018-2025(F) in terms of revenue. However, as the
total number of orthopedic doctors continues to rise, the preference of
individuals is expected to change due to the customized and individually
tailored solutions offered in orthopedic specialty hospitals.
Competition Scenario in Asia Pacific Orthopedic Device Market
Competition
within Asia orthopedic device market was observed to be fragmented among top 5 players
who hold a majority revenue share for the year 2018. The market was observed to
have more than 50 players operating domestically, with just 5-10 companies
operating globally. While companies compete on the basis of profit margins
offered, a shift was observed towards physicians as they act as major
influencers for consumer’s choice. Due to the high quality of the products,
majority of the surgeons in the APAC region prefer to use imported products.
Asia
Pacific Orthopedic Device Market Future Outlook and Projections
The Asia orthopedic
device market in terms of revenue is forecasted to grow at a CAGR of 8.2% from
2018-2025(F). The growth is expected due to increase in localmanufacturing in
the Asian 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. Also, China is anticipated to dominate the market due to the
government Made in China 2025 initiative towards promoting the domestic medical
device in country including orthopedic devices.
Key Segments
Covered
By Country
China
Japan
Australia
Korea
India
Taiwan
Thailand
New Zealand
Singapore
Malaysia
Hong Kong
Vietnam
Pakistan
Indonesia
Bangladesh
Philippines
By Type of Treatment
Joint
By Type of Joint Implant
Knee
Hip
Others (Extremities,
Shoulders, Wrist, Ankle and other Joints)
Spine
By Type of Spinal Implant
Fusion
Non Fusion
Trauma
By Type of Trauma Implant
Internal
Fixation
External
Fixation
Orthobiology
& Sports Medicine By Type of End
User
Multispecialty
Hospitals
Orthopedic
Specialty Hospitals
Key Target
Audience
Orthopedic Device Manufacturers
Orthopedic Device Distributors / Traders / Wholesalers
Orthopedic Device Subcomponent Manufacturers
Industry Association
Hospitals
Time Period
Captured in the Report:
Historical Period: 2013 -2018
Forecast Period: 2019-2025
Companies Covered:
Asia Pacific Region
Stryker
Medtronic
Smith and Nephew
Zimmer Biomet
J&J
Key Topics
Covered in the Report
Asia Pacific Orthopaedic Device Market Overview and Genesis
Asia Pacific Orthopedic Device Market Ecosystem
Asia Pacific orthopedic Device Market Business Models
Value Chain Analysis for Asia Pacific Orthopedic Device Industry
Asia pacific Orthopedic Device Market Size, 2013-2018
Asia Pacific Orthopedic Device Market Segmentation, 2013-2018
Major Countries (China, India, Japan and Korea) Operating in the Asia
Pacific Orthopedic Device Market, 2013-2023
Government Regulations, Certification and Labeling Practices in
Asia pacific Orthopedic Device Market
Growth Drivers in Asia Pacific Orthopedic Device Market
Trends and Developments and Issues and Challenges in Asia
Orthopedic Device Market
Porter’s Five Forces of Asia Pacific Orthopaedic Device Industry
Competitive Landscape in Asia Pacific Orthopedic Device Market
Company Profiles of Major Players in Asia pacific Orthopedic
Device Market
Asia Pacific Orthopedic Device Market Future Outlook and
Projections, 2018-2025
Analyst Recommendations
For more information on the research report,
refer to below link:-
Asia Pacific Orthopedic Device Market
Related Reports:-
Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249
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