Chinese knee implant market set to skyrocket through 2012, according to
Millennium Research Group
WALTHAM, Mass., Jan. 10 /PRNewswire/ -- According to Millennium Research Group's Chinese Markets for Large-Joint Reconstructive Implants 2008 report, sales of reconstructive knee implants will skyrocket in China, at an almost 25% compound annual growth rate from 2007 through 2012. Strong economic growth, favorable demographics, and an improving quality of life, particularly in the country's urban areas, will drive this market throughout the next five years.
The Chinese reconstructive knee implant market, currently pegged at nearly $100 million, will almost triple to reach just under $300 million by 2012. Because China's strong economic growth has spurred the rise of a middle class, many now have the financial resources to improve their quality of life. Some of the country's aging and osteoporotic citizens are doing so by spending on elective knee implant surgery. In order to accommodate this increasing demand, more surgeons are training to perform knee implant procedures.
"Knee implants are relatively new to China," says Chia Zheng, Analyst at Millennium Research Group. "However, with more people growing aware of treatment options through internet forums and word-of-mouth, and more surgeons becoming trained in implant procedures, this market will boom over the next five years."
The Global Markets for Large-Joint Reconstructive Implants report series covers India, US, Japan, and Europe. Coverage of industry competitors includes Biomet, DePuy, Smith & Nephew, Stryker, Zimmer, local Chinese competitors, and many others.
About Knee Replacement Surgery
Knee replacement surgery is a procedure intended to relieve pain or disability associated with degenerative bone conditions such as osteoarthritis. The surgery consists of replacing the joint surface with a reconstructive implant, which commonly comprises both metal and polyethylene components.
About Millennium Research Group
Millennium Research Group (http://www.MRG.net), a Decision Resources, Inc. company (http://www.DecisionResources.com), is the global authority on medical technology market intelligence and a leading provider of strategic information to the health care sector. Focused solely on the medical device, pharmaceutical, and biotechnology industries, the company provides its clients with the benefits of its specialized industry expertise through published reports and customized consulting services.
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|SOURCE Millennium Research Group|
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