Analysis of the future development trend of orthopedic medical device market
The rapid growth of the domestic orthopaedic medical device market is like a rainbow, with a compound annual growth rate of 18%. Among them, the three types of orthopedic implants of trauma, spine and joints accounted for more than 80% of the total orthopedic medical device market. The latter two have higher technical barriers, and foreign brands have an advantage. However, in the past two years, the national level has successively introduced policies to try to reverse this situation. Domestic large-scale orthopedic manufacturers are expected to take this opportunity to expand their domestic market share.
Low penetration rate in the domestic market
According to statistics, the Chinese orthopedic market has been in a period of rapid growth in recent years. In 2015, the market size reached 16.6 billion yuan, surpassing Japan to become the world's second largest orthopedic market, accounting for 51% of the world's scale; the compound growth rate of 2012-2015 is 18%. %, the market size is expected to exceed 30 billion yuan by 2019.
According to the China Surgical Implants Committee, by 2050, the number of elderly osteoporosis patients in China will increase to 212 million, while more than 30% of elderly fracture patients are associated with osteoporosis. There are more than 80 million people with severe arthritis in China, and about 750,000 patients with existing disabilities. At the same time, about 3 million new bone injury patients are added each year, and the huge patient base brings opportunities for accelerated expansion of the orthopedic medical device market.
"At present, there are still quite a few patients in China who have not received implant treatment." According to Gong Jianbo, general manager of Weigao Orthopedics, in terms of market penetration, China's trauma, spine and joint market penetration rates were 4.9% and 1.5%, respectively. 0.6%, while the United States is 66%, 38%, and 43% respectively. Compared with developed countries, China still has a large gap, and it has great potential for development in the future.
In terms of policy, the orthopedic medical device industry is an encouraged industry in the state's key support, and the “medical device technology industry “12th Five-Year” shift to industrial planning” and other policies will include bone repair materials, artificial joints and spine and other orthopedic implants. Develop products for the state.
Import substitution or trend
Compared with multinational orthopedics enterprises, domestic orthopaedic enterprises still have large gaps in raw materials, production equipment and technology, and capital talents. As a result, most of the high-end market is occupied by foreign brands, and domestic medical equipment is mainly concentrated in the low-end and imitation products. .
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