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Domestic substitutes accelerate the development of orthopaedic implant device industry with strong momentum

With the development of global economy and the emergence of population aging, the potential of medical and health market has been further stimulated. The development of medical device industry is closely related to the medical and health industry. In terms of segments, the market scale of orthopaedic implant devices accounts for about 9% of the total global medical device market, ranking fourth. Based on China’s huge population base, the accelerated process of social aging and the rising demand for orthopaedic medical treatment, the orthopaedic implant device industry has developed rapidly in recent years, and still has broad market prospects and huge growth space.

The market scale is growing rapidly

The global medical device market has maintained steady growth. According to the prediction of evaluatemedtech, a medical industry research organization, the global orthopedic medical device market will reach about US $47.1 billion in 2024.

Although China’s orthopaedic implant medical device market is still in the primary stage, with the deepening of population aging and the growth of per capita medical and health care consumption expenditure, the overall market scale of orthopaedic implant devices in China is growing rapidly. According to the data released by minenet and Guangzhou punctuation Medical Information Co., Ltd. (hereinafter referred to as punctuation information), the market sales revenue in this field has increased from 16.4 billion yuan in 2015 to 30.8 billion yuan in 2019, with a compound annual growth rate of 17.03%, higher than the overall growth rate of the global orthopaedic implant market; It is estimated that by 2024, the market scale of orthopaedic implant devices in China will reach about 60.7 billion yuan (see Figure 1 for details). The development of orthopaedic implant medical devices in China has a large market space and will continue to maintain a rapid growth trend.