The replacement trend of imported medical device market gradually shows that domestic brands are poised to break through
The rapid growth of the domestic orthopaedic medical device market is like a rainbow, with a compound annual growth rate of 18%. Among them, the three types of orthopedic implants of trauma, spine and joints accounted for more than 80% of the total orthopedic medical device market. The latter two have higher technical barriers, and foreign brands have an advantage. However, in the past two years, the national level has successively introduced policies to try to reverse this situation. Domestic large-scale orthopedic manufacturers are expected to take this opportunity to expand their domestic market share. Low penetration rate in the domestic market According to the industry authority EvaluateMedTec, the Chinese orthopedic market has been in a period of rapid growth in recent years. In 2015, the market size reached 16.6 billion yuan, surpassing Japan to become the world's second largest orthopedic market, accounting for 51% of the world's scale; 2012-2015 compound The growth rate is 18%, and the market size is expected to exceed 30 billion yuan by 2019. According to the China Surgical Implants Committee, by 2050, the number of elderly osteoporosis patients in China will increase to 212 million, while more than 30% of elderly fracture patients are associated with osteoporosis. There are more than 80 million people with severe arthritis in China, and about 750,000 patients with existing disabilities. At the same time, about 3 million new bone injury patients are added each year, and the huge patient base brings opportunities for accelerated expansion of the orthopedic medical device market. "At present, there are still quite a few patients in China who have not received implant treatment." According to Gong Jianbo, general manager of Weigao Orthopedics, in terms of market penetration, China's trauma, spine and joint market penetration rates were 4.9% and 1.5%, respectively. 0.6%, while the United States is 66%, 38%, and 43% respectively. Compared with developed countries, China still has a large gap, and it has great potential for development in the future. In terms of policy, the orthopedic medical device industry is an encouraged industry in the state's key support, and the “medical device technology industry “12th Five-Year†shift to industrial planning†and other policies will include bone repair materials, artificial joints and spine and other orthopedic implants. Develop products for the state. Import substitution or trend Compared with multinational orthopedics enterprises, domestic orthopaedic enterprises still have large gaps in raw materials, production equipment and technology, and capital talents. As a result, most of the high-end market is occupied by foreign brands, and domestic medical equipment is mainly concentrated in the low-end and imitation products. . In 2014, foreign companies such as Johnson & Johnson, Stryker, JMB, and Medtronic accounted for 65.58% of China's orthopaedic market share; from the perspective of segmentation, foreign-born trauma, spine and joint implants accounted for 57.05 respectively. %, 68.99% and 69.38%. It can be seen that trauma is the only product that has not been dominated by foreign manufacturers, but it also indicates that domestic brands have more room for growth in the joint and spine fields. The compound growth rate of the artificial joint market has exceeded 20 in the past five years. %. According to the analysis of Gong Jianbo, “currently, trauma products can be localized. Some small and medium-sized hospitals basically use domestic wound products. The growth of domestic manufacturers will mainly come from import substitution in the field of spine and joints.†In the top three hospitals in the first-tier cities, artificial joints are basically imported products. The reason is that the technical threshold of joint products is difficult to manufacture, and domestic brands are still not comparable to imported brands. Although foreign brands are dominant, the market competition is changing. “With the tilt of medical insurance policies and the accumulation of domestic brand technology, local companies have already become quite competitive.†Lin Xiaowei, a researcher at Huitianfu Pharmaceutical Industry, said that the current medical insurance policies in many areas of China are for domestic medical devices and imported medical devices. The reimbursement ratio is about 7:3, so the import substitution effect will gradually appear. "For large-scale orthopedic consumables enterprises in China, it is of great significance to enter the high-end market and achieve success. Domestic brands must gradually improve product quality and technical content, and infiltrate product sales into high-end markets such as tertiary hospitals, bringing cost-effectiveness to Chinese patients. High orthopedic products." Lin Xiaowei said that this is a necessary stage for domestic and multinational companies to compete.
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