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Brazilian, Indian and Chinese Orthopedic Markets to See Strong Growth Through 2017
Date:1/24/2013

TORONTO, Jan. 24, 2013 /PRNewswire/ -- According to Millennium Research Group (MRG), the global authority on medical technology market intelligence, the Brazilian, Indian and Chinese markets for spinal implants and bone graft substitutes (BGS) will grow strongly, to a total value of more than $3 billion by 2017, while the trauma and reconstructive joint implants market will grow even more, to a total value of more than $4.5 billion by 2017. These trends are driven by increasing demand from a growing over-50 demographic, as well as significant economic expansion.

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Multinational companies will express particular interest in acquiring local manufacturers to benefit from their existing distribution networks and local market knowledge. For example, in November 2012, Medtronic announced an acquisition agreement with Kanghui Holdings, a Chinese medical device company, explicitly citing a larger and more direct local presence and the fast growth of the Chinese medical device markets as reasons for the acquisition.

Another notable example of a strategic acquisition was that of Synthes by Johnson & Johnson in June 2012. The combination of Synthes and Johnson & Johnson's DePuy will further boost the company's standing as a comprehensive global orthopedics business by further broadening its product lines.

Manufacturers are also becoming increasingly aware that training programs on the various orthopedic procedures are a good way to increase physician adoption of treatment options, especially those that are less-established or novel. For example, Aesculap (a B. Braun company) plans to expand its training and development offerings in Brazil and Stryker recently launched a mobile training center in Shanghai, China. Local companies, such as, Sharma Surgical and Sushrut Surgicals in India are also setting up training programs, but the resources required for such training programs means that larger companies still have an advantage.

"While these markets have a lot of potential, many factors will continue to hinder procedure volumes," said MRG Analyst Rene Azeez . "Poverty is still widespread, and many uninsured people lack the funds to pay for procedures out-of-pocket. Premiums remain expensive and many insurance providers are reluctant to offer coverage because of the risk involved in paying for poorly regulated healthcare. As a result, penetration of spinal implant and BGS procedures as well as trauma and reconstructive joint implants procedures will remain low compared to the United States and Europe."

Millennium Research Group's Brazilian, Indian, and Chinese Markets for Orthopedic Devices 2013 report series includes unit, average selling price and revenue information, along with market drivers and limiters and competitive landscape for spinal implants, bone graft substitutes, trauma fixation devices, and reconstructive joint implants sold in Brazil, India and China.

About Millennium Research Group
Millennium Research Group (www.MRG.net), a Decision Resources Group company (www.DecisionResourcesGroup.com), is the global authority on medical technology market intelligence and the leading provider of strategic information to the healthcare sector. The company provides specialized industry expertise through multiclient market research, ongoing Marketrack™ projects, customer loyalty tracking, facility-level procedure forecasting, and customized solutions.

About Decision Resources Group
Decision Resources Group is a cohesive portfolio of companies that offers best-in-class, high-value information, and insights on important sectors of the healthcare industry. Clients rely on this analysis and data to make informed decisions. Please visit Decision Resources Group at www.DecisionResourcesGroup.com.

All company, brand or product names contained in this document may be trademarks or registered trademarks of their respective holders.

For more information, contact:

Christopher Comfort

Decision Resources Group

781-993-2597

ccomfort@dresources.com

Alex Jablokow

Millennium Research Group

617-599-8613

ajablokow@mrg.net

 


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SOURCE Millennium Research Group
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