Asia Orthopedic Device Market is majorly Driven by Surge in Aging Population, Obesity and High Prevalence of Musculoskeletal Conditions: Ken Research

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Analyst at Ken Research in their latest publication Asia Pacific Orthopedic Device Market Outlook to 2025 – By Country (China, Japan, India, Korea, RoAPAC), By Type of Treatment (Joint, Spine, Trauma and Orthobiology and Sports Medicine); and By Type of End User (Multispecialty and Orthopedic Specialty Hospitals)observed that the market is still in an infancy growth stage and will witness further growth owing to factors such as rising healthcare expenditure, increase in number of  orthopedic healthcare establishments and increasing support by government for the domestic players. Asia Pacific orthopedic device market is expected to register a positive CAGR of 8.2% in terms of revenue during the forecast period 2018-2025.

Asia Pacific Orthopedic Device Market_Infographic

Increasing number of elderly adults results in a higher prevalence of osteoarthritis and other conditions leading to injuries requiring orthopedic devices.

Growth in the Geriatric Population: As of 2018, Asia has more than 500 million individuals aged 65 years and above. Cities in Japan and South Korea in particular are facing rapid growth in terms of aging population thus, leading to higher incidences of osteoporosis and arthritis and creating demand for orthopedic devices especially artificial joints within Asia Pacific region.

Changes in the Healthcare Policies: Orthopedic procedures are becoming more affordable and accessible due to government healthcare reforms. In countries such as Japan and Korea, patients have to pay less out of the pocket expenses and it is even more affordable for elderly population. More individuals are choosing to undergo elective procedures and are also becoming aware of knee disorders and related treatments. However in India, price capping regulations of orthopedic devices have negatively impacted the profit margins for most of the companies.

Increased Mergers and Acquisitions: M&A is driving the orthopedics medical device sector at a fast pace due to downward pressure from several factors such as reimbursement and pricing, utilization of costly procedures and increasing commoditization. The international orthopedic device companies have adopted a number of approaches to increase their presence in the APAC region and also focused towards getting approvals to establish their presence in the local market. Although majority of these activities have taken place in India, China, Japan, Australia and Korea; Among the overseas markets that global medical device companies are paying attention to are Malaysia, Thailand, Indonesia, and Vietnam, which have fast economic growth and a large population base. These countries have a common policy of improving public health and building public and private health care infrastructures, which is becoming an opportunity market for the domestic and global orthopedic device industry.

Sedentary Lifestyles and Obesity: Along with rising life expectancy, increasingly sedentary lifestyles and surge in incidence of obesity, Asia pacific is witnessing a resultant rise in orthopedic problems as a natural consequence; Central Asia has the highest number of obese and overweight adults at 49.3% (according to industry reports, 2017). China has one of the largest overweight populations in the world, and obesity is a major public health concern. In addition, Asia’s increased urbanization, which is currently evaluated at 50.0% (in accordance with the UN) has also led to many more car accidents and injuries requiring orthopedic medical devices and treatment.

Key Segments Covered

By Country

China

Japan

Australia

Korea

India

Taiwan

Thailand

New Zealand

Singapore

Malaysia

Hong Kong

Vietnam

Pakistan

Indonesia

Bangladesh

Philippines

By Type of Treatment

Joint

By Type of Joint Implant

Knee

Hip

Others (Extremities, Shoulders, Wrist, Ankle and other Joints)

Spine

By Type of Spinal Implant

Fusion

Non Fusion

Trauma

By Type of Trauma Implant

Internal Fixation

External Fixation

Orthobiology & Sports Medicine

By Type of End User

Multispecialty Hospitals

Orthopedic Specialty Hospitals

Key Target Audience

Orthopedic Device Manufacturers

Orthopedic Device Distributors / Traders / Wholesalers

Orthopedic Device Subcomponent Manufacturers

Industry Association

Hospitals

Time Period Captured in the Report:

Historical Period: 2013 -2018

Forecast Period: 2019-2025

Companies Covered:

Asia Pacific Region

Stryker

Medtronic

Smith and Nephew

Zimmer Biomet

J&J

Key Topics Covered in the Report

Asia Pacific Orthopedic Device Market Value Chain Analysis

Asia Pacific Orthopedic Device Market Overview

Asia Pacific Orthopedic Device Market Trends

Asia Pacific Orthopedic Device Market Challenges

Asia Pacific Orthopedic Device Market Future Projections

Asia Pacific Orthopedic Device Market Segmentation by Country

Asia Pacific Orthopedic Device Market Segmentation by Type of treatment

Asia Pacific Orthopedic Device Market Segmentation by Type of End User

Competition Analysis of Asia Pacific Orthopedic Device Companies

Country Profiles – India, China, Korea, Japan

For more information on the research report, refer to below link:-

Orthopedic Device Market

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Contact Us:
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249

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