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Orthopedic medical device market will rise steadily in the next two years


The orthopedic medical device industry is an important sub-industry in the medical device industry. In the past 30 years, the entire orthopedic medical device industry has experienced a rapid development stage on a global scale. In the continuous learning and competition, domestic orthopedic medical devices have made great progress in all aspects, gradually breaking the pattern of foreign monopoly, and a number of local enterprises with strong competitiveness have been formed in the industry. However, compared with developed countries, the technical content and product grade of orthopedic medical devices in China still need to be further improved.

Market size

Orthopedic medical instruments can be divided into trauma instruments, spinal instruments, joint instruments and others according to the different types of diseases treated.

From 2015 to 2017, China's orthopedic medical device market developed rapidly, and the market size increased from 16.42 billion yuan to 22.56 billion yuan. From the perspective of major subdivisions, traumatic orthopedic medical devices have always been the largest market segment of orthopedic medical devices in my country, with a market size of 6.88 billion yuan in 2017; spinal orthopedic medical devices have developed rapidly, and the market size has increased to 6.61 billion yuan. The fastest-growing orthopedic medical device segment; joint orthopedic medical devices have also maintained a rapid growth trend, with a market size of 5.61 billion billion yuan in 2017.

It is worth noting that the market share of trauma orthopedic medical devices declined in 2017. In 2017, the market share of trauma orthopaedic medical devices was 30.51 percent, that of spine orthopaedic medical devices was 29.31 percent, and that of joint orthopaedic medical devices was 24.89 percent.

In terms of import and export trade, compared with developed countries and regions such as Europe and the United States, my country's orthopedic medical device industry started late and has insufficient technology, especially in high-value orthopedic medical devices. Domestic companies generally have insufficient production capacity and are difficult to meet market demand. Therefore, it mainly relies on imports. From 2015 to 2017, my country mainly imported orthopedic medical devices from Europe, the United States and other countries and regions, and the import volume increased from 9.55 billion yuan to 12.63 billion yuan.

The products produced by Chinese enterprises are mainly concentrated in the low-end market, so they mainly export low-end orthopedic medical devices to expand the international market with price competitive advantages, mainly in Southeast Asia, South America, Africa and other countries and regions. In 2017, China's orthopedic medical device exports were 5.23 billion yuan.

Industry characteristics

In the overall environment of the rapid development of China's medical device industry, the orthopedic medical device industry as a new sunrise industry continues to progress, the development of the industry presents the following characteristics:

First, the scale of trauma products accounted for a high proportion, spine and joint products growth rate is relatively fast. As the production technology and entry threshold is not as high as the requirements of spine and artificial joint devices, almost all orthopedic enterprises in China have trauma product lines, trauma devices market is relatively mature, the market share is higher than spine and joint devices. In recent years, with the acceleration of the aging society, my country's spine and joint orthopedic devices have continued to develop, and the growth rate is higher than that of trauma devices.

Two is the acceleration of industry integration. In recent years, mergers and acquisitions have become an important means to maintain the competitiveness of orthopedic medical device companies. The trend of mergers and acquisitions of multinational enterprises to domestic enterprises has been formed, and mergers and acquisitions between domestic enterprises have also become common practice. With the progress of mergers and acquisitions, the market share of large enterprises in the field of orthopedic medical devices has been increasing, and the market voice has been enhanced. At the same time, the domestic medical device industry continues to increase the supervision, the quality requirements are more stringent, and the survival pressure of small and medium-sized enterprises is increasing.

Third, the substitution of imported products accelerated. Domestic enterprises have mastered the main manufacturing technology of orthopedic medical devices, but the products are mainly concentrated in the middle and low end, and the high-end products of joint category are mainly imported. The technical level of domestic enterprises in raw material processing, production technology, surface treatment and other aspects needs to be improved. Although the orthopedic medical device products of multinational companies still have significant advantages in the domestic market, these advantages have begun to weaken. With the continuous improvement of technology, domestic orthopedic device products with price advantages to seize the market of imported products, more and more patients tend to take the initiative to choose domestic orthopedic devices, coupled with the tilt of medical insurance on domestic products, objectively promote the growth of demand for domestic orthopedic devices. The share of domestic orthopedic implant devices is rising, and import substitution continues to advance. At present, the trauma field has basically completed import substitution, and it is expected that the import substitution of spine, joint and other products will be completed around 2020. Compared with trauma and spine products, artificial joint devices are permanent implant products, high technical threshold, difficult manufacturing process and difficult surgery, import substitution speed is relatively slow.

Fourth, the demand for high-end products has expanded. With the increase of national disposable income, the rise of the proportion of the elderly population, the change of medical concept and the expansion of medical insurance coverage, the demand for high-end orthopedic medical devices in China will maintain a high growth rate. After years of market cultivation, the acceptance of orthopedic implant devices by patients has been continuously improved. In the future, investment and mergers and acquisitions in the field of high-end orthopedic medical devices will increase. Good market prospects and huge growth space will bring greater impetus to the development of enterprises.

development trend

The market demand for orthopedic medical devices in my country mainly comes from the following aspects: First, the elderly are mostly osteoporotic and inconvenient to move, and are prone to falls, falls, etc. Once the bone tissue is injured, the degree of damage is more serious than that of young people. Surgical treatment, so the elderly are the main demand group for orthopedic medical devices. In recent years, the aging population in China has been increasing, which has promoted the increasing demand for orthopedic medical devices. Second, traffic accidents are one of the important causes of fractures. Although our country is constantly controlling the occurrence of traffic accidents, with the increase of car ownership, the rate of people traveling by car is rising, and traffic accidents are still emerging. Patients with bone injuries caused by traffic accidents also constitute the main demand group of orthopedic medical devices. Third, with the deepening of my country's medical and health system reform, the scope of medical insurance reimbursement continues to expand, and the proportion of reimbursement continues to increase. At the same time, orthopedic medical technology continues to improve, and the number of orthopedic hospitals continues to increase, which greatly promotes the consumption of orthopedic medical devices. Fourth, under the trend of consumption upgrading, people pay more and more attention to health, the proportion of medical and health expenses is gradually increasing, and the ability to pay for orthopedic medical devices is also gradually improving, which is conducive to the consumption of orthopedic medical devices.

From 2015 to 2017, China's orthopedic medical devices basically maintained a balance between supply and demand. However, on the supply side, the supply capacity of multinational enterprises is much stronger than that of domestic enterprises, the domestic market is mainly occupied by multinational enterprises, and the supply capacity of domestic enterprises still has a large room for improvement. In 2017, the supply scale of orthopedic medical devices in China was 23.41 billion yuan and the demand scale was 22.56 billion yuan.

In recent years, China has encouraged and supported the orthopedic medical device industry policy, and has played a role in promoting the development of orthopedic medical devices in terms of raw materials, technology, and market demand. In January 2017, the National Development and Reform Commission announced the ''Guiding Catalogue of Key Products and Services for Strategic Emerging Industries (2016 Edition) '', which clearly identified artificial joint prostheses such as hip/knee/shoulder, bone induction artificial bone, and artificial bone/metal bone fixation. Bone implant materials such as materials and artificial intervertebral discs are key products in strategic emerging industries. In May 2017, the General Office of the Ministry of Science and Technology issued the "13th Five-Year Plan for Scientific and Technological Innovation of Medical Devices", proposing that in the field of orthopedic repair and implant materials and devices, focus on the development of internationally leading bone induction repair materials., Absorbable bone fixation products, high wear-resistant, long-lasting new artificial hip, artificial knee and artificial intervertebral disc and other products.

From the above analysis, it can be seen that, driven by a variety of factors, the market capacity of orthopedic medical devices in China is showing an expanding trend. First of all, the elderly are the main demand groups of orthopedic medical devices. In 2017, the new elderly population exceeded 10 million for the first time. It is expected that by 2050, the number of elderly people in my country will reach a peak 0.487 billion, accounting for 34.9 percent of the total population. Secondly, with the enhancement of people's health awareness, the number of admissions to orthopedic hospitals is increasing. Almost all general hospitals in my country have orthopedics. At the same time, the number of professional orthopedic hospitals is also increasing, and medical technology continues to improve. Third, my country's spine and joint orthopedic medical device market is mainly occupied by multinational companies, and domestic companies have a low market share. The products of multinational enterprises tend to be more expensive and the proportion of medical insurance reimbursement is lower. With the transformation and upgrading of medical devices and the reform of the medical and health system, the increase in the localization rate of spine and joint orthopedic medical devices will be an inevitable trend, which will create a good development space for local enterprises in my country.

In summary, it is expected that from 2018 to 2021, driven by the increase in China's aging population, the improvement of people's spending power, the improvement of orthopedic medical care, policy encouragement and other factors, the scale of China's orthopedic medical device market will continue to expand, but the growth rate will decline. In 2021, the market size of orthopedic medical devices in China is expected to reach 40.07 billion billion yuan.

[Selected from China Medical Device Industry Development Report (2018)]

Source: China Medical News

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