China Large and Small Joint Reconstruction Device Markets to Grow at High Rates, Forecasts iData Research08 Apr 2013 • by Natalie Aster
Chinese, Japanese, and Indian small bone and joint orthopedic devices companies are undercutting their American and European competitors to win business in the region.
The large and small joint reconstruction device markets in Japan, India, and China are together worth billions of dollars — and they continue to grow. Although patients in these countries are more inclined to undergo a procedure related to large joint reconstruction and this segment has a significantly larger market size, the small joint market is also expected to see growth.
Domestic manufacturers capitalizing on government support and their ability to keep production costs comparatively low are gaining market share over their European and American competitors.
According to the report “Chinese Small Bone & Joint Orthopedic Devices Market” by iData Research, in Japan, India, and China, large joint replacement products, such as hip and knee implants as well as bone cement, reign supreme over small joint products, which include shoulder, elbow, hand and wrist, and foot and ankle reconstruction and fixation devices. Paramount among the many reasons for this is that patients demand treatment for hip, knee, or large-bone damage. With these injuries, impairment can result in near complete loss of mobility. Consequently, inability to function in complex and even day-to-day activities may prove detrimental to patients’ capacity to provide for their families.
Chinese Small Bone & Joint Orthopedic Devices Market
Published: April, 2013
Price: US$ 6,995.00
Patients are less likely to feel it is necessary to repair an injury to an extremity (normally smaller bones and joints), especially if they do not have the resources readily available. Low-income patients, for example, may not be able to afford a finger replacement and will instead endure daily life without reconstruction. Although all orthopedic devices are intended to provide relief from pain, discomfort, and physical impairment to patients with mild to severe injuries, large joint reconstruction devices are simply more crucial for basic functionality than small joint products. Large joint products, therefore, command a greater market share.
In the past, there have been far fewer doctors trained to perform small joint-related operations, but an influx of young, newly-trained, and capable doctors is emerging in Asia. This should result in significant growth of the small joint reconstruction market. Despite less demand for small joint procedures, this segment is growing in all three countries. In 2012 the large joint market in Japan exceeded $1.3 billion, as compared with Japan’s much smaller $69.5-million small joint market. The market in India is expected to grow by double digits next year. In addition, China had significantly higher market value, upwards of $673 million, of which knee products alone accounted for $364 million.
The large and small joint reconstruction device markets will continue to grow at very high rates in Japan, India, and China. Large joint products will continue to thrive as patients demand repair for hips, knees, and large bones. As elective procedures become more affordable, the small joint reconstruction device market will benefit the most. Domestic players in Asia are taking advantage of government support and lower production costs. Although currently the majority of the companies selling products in Japan, India, and China are from the United States and Europe, these smaller domestic players will continue to gain momentum.
More Cutting-Edge Reports by iData Research Include:
- Indian Small Bone & Joint Orthopedic Devices Market
- Japanese Small Bone & Joint Orthopedic Devices Market
More information can be found in the report “Chinese Small Bone & Joint Orthopedic Devices Market” by iData Research.
To order the report or ask for sample pages contact email@example.com