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Good Growth In The Orthopedic Medical Device Industry
Jul 04, 2018

Import substitution will accelerate. At present, local enterprises have mastered the main manufacturing technologies of orthopedic surgical instruments, but the products are mainly concentrated in the low-end. In recent years, with the improvement of technical level and the support of relevant policies, the import substitution process has continued to advance, and the trauma field has basically been completed. The import substitution of high-end orthopedic devices is expected to accelerate. It is expected that the import and replacement of products such as spine and joints will be completed before and after 2020.

Demand for high-end devices is growing rapidly. With the increase of national disposable income, the rise of the proportion of the elderly population, the change of medical concepts and the improvement of the coverage of medical insurance, the demand for orthopedic medical devices in China will maintain a relatively high growth rate. After years of market cultivation, patients' acceptance of implants has been continuously improved. In view of the above factors, China is expected to become the world's largest market within ten years, and joint products are most worthy of expectation.

The industry is in a period of rapid integration. There are many small and medium-sized enterprises in the industry and the region is strong. At present, the industry is in a period of rapid development. In recent years, many domestic leading enterprises have been merged by international giants, and some local enterprises have actively carried out mergers and acquisitions abroad. At the same time, the domestic government has continuously strengthened the supervision of the medical device industry and improved the quality requirements. The survival pressure of SMEs is relatively large, which is conducive to the integration of the industry. It is expected that the domestic market will eventually form a group of internationally competitive local orthopedic enterprises with listed companies as the backbone. .

The opportunity for quality improvement is coming. There is still a big gap between the quality of local enterprises and the top foreign manufacturers. With the development of the industry, the concentration of the industry is constantly improving, and the supervision is becoming stricter. Domestic enterprises will put more energy into research and development; at the same time, they have emerged in recent years. A lot of advanced materials and technologies have been provided to provide more excellent products for enterprises. At the same time, there is a need for guidance from middle and high-end consumers, and a good opportunity for quality improvement has arrived.

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