Demand For Trauma Devices and Reconstructive Joint Implants Will Grow Rapidly in China and India, but More Slowly in Australia and South Korea Through 2022

BURLINGTON, Mass., April 2, 2014 /PRNewswire/ -- Decision Resources Group finds that, through 2022, the trauma device and reconstructive joint implant markets will grow strongly in the emerging markets—China and India—and much more slowly in the more mature markets—Australia and South Korea—resulting in a 10.5 percent compound annual growth rate in the Asia Pacific region overall.  In all countries, growth will be driven by factors such as an expanding patient pool, physician training and increased patient awareness.

Other key findings from the Medtech 360 reports entitled Asia Pacific Markets for Trauma Devices and Reconstructive Joint Implants 2014 and Chinese Markets for Trauma Devices and Reconstructive Joint Implants 2014:

• Economic growth in China and India: Economic growth and improving health care infrastructures in China and India are playing a substantial role in driving market expansion, creating better access to procedures and higher disposable incomes. Rising disposable income will have a particularly strong effect on the reconstructive joint implant market, which has typically been underdeveloped in these countries due to the generally elective nature of these procedures.
• Declining prices: Device prices are falling in the four countries through 2022. This decline is particularly dramatic in South Korea, where planned reimbursement cuts in 2014 will have a big impact on market value.
• Knee versus hip implants: In most emerging reconstructive joint implant markets, hip implants outnumber knee implants initially, given the complexity of the latter procedure; this trend can be seen in China. However, India is an exception, where more knee implants are performed compared to hip implants. This is largely due to lifestyle preferences that place stress on the knee, as well as the availability of low-cost implants, such as the INDUS Knee.

Comments from Decision Resources Group Analyst Yulia Privolnev:

• "An interesting difference exists in the preference for cemented versus cementless total knee arthroplasties (TKAs) in the Asia Pacific countries. Worldwide, the physician preference is for cemented knees, and this is the case in South Korea and India, where over 90 percent of TKAs are cemented. However, in Australia and increasingly in China, there is a growing preference for cementless implants, which are newer and more innovative."

Comments from Decision Resources Group Analyst Darren Lin:

• "Although the main competitors in the Asia Pacific trauma device and reconstructive joint implant markets are large multinational competitors, China, India and even South Korea have a strong and growing presence from domestic manufacturers. Some multinational companies have addressed this threat by acquiring strong local competition; for example, Smith & Nephew acquired Indian company Sushrut Surgicals, while Medtronic acquired Chinese competitor Kanghui Holdings."

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