ReporterLink released a new report on the Chinese orthopedic instrument market demand.
Here are eight findings from the report:
1. The Chinese orthopedic instrument market demand grew at 19.2 percent compound annual growth rate from 2009 to 2013.
2. Orthopedic trauma products held 36.9 percent of the country's orthopedic instruments market share last year. Spine and joint products are also included in the market.
3. Foreign and domestic companies are speeding up their layout in the Chinese orthopedic instrument market through acquisitions, including Medtronic's 2012 China Kanghui Holdings acquisition for $816 million. Stryker also staked claim on Trauson Holding in 2013.
4. Johnson & Johnson, Zimmer, Medtronic and Stryker dominate the Chinese orthopedic instruments market, holding 40 percent to 50 percent of the market share. However some Chinese companies are successful in grabbing market share with cost and channel advantages.
5. Local Chinese companies — including Shandong Weigao Group Medical Polymer and Shanghai Kinetic Medical—have made research and development progress and technology production in recent years.
6. Shandong Weigao Group Medical Polymer is the largest local orthopedics company in China, with 4.3 market share.
7. Shanghai Kinetic Medical leads the vertebroplasty interventional operation system market in China, accounting for 50 percent of the Chinese percutaneous kyphoplasty market.
8. United Orthopedic Corporation is the local company with the lead in artificial knee and hip joint surgeries, capturing 4 percent to 6 percent market share in China.