VANCOUVER, BC--(Marketwired - September 13, 2016) - According to a new series of reports on the Chinese market for small bone and joint orthopedic devices by iData Research (https://www.idataresearch.com), Zimmer Biomet leads the Chinese market due to their strong balance across all segments. In particular, their premium Trabecular Metal line of products secured a lot of their market overall share. Similarly, Depuy Synthes also have significant market share across the entire Chinese small joint market. The foot and ankle market was their strongest thanks to their Distraction Osteogenesis Ring System which is a multifaceted foot and ankle external fixation system.
Another top competitor in the market is Stryker. Their presence in the Chinese market increased after their acquisition of Small Bone Innovations (SBi), a company who specialized in the small joint market, known for their STAR total ankle replacement system. SBi's line of products allowed Stryker to capitalize on their strong brand recognition. Stryker's highest market share was in the shoulder reconstruction market with sales of their ReUnion® line of shoulder replacement devices. The company's position is also attributed to its offerings in the external fixation market due to strong sales of their HoffmanTM external fixation system.
"Aside from Zimmer Biomet and Stryker, there are other foreign competitors such as Smith & Nephew, Acumed, Arthrex, Exactech and Wright Medical," explains Dr. Kamran Zamanian, CEO of iData. "These companies often provide higher priced devices and as such, garner less market share in the price sensitive Chinese market."
Although there are an abundance of Chinese companies competing in the orthopedic market, they currently do not have the capabilities to produce precise enough products to be very competitive in the small bone and joint market. The strength of Chinese companies lies more in the realms of plates and screws and not in full joint replacements.
Amongst the multitude of domestic companies, there are some companies, such as Kanghui and Weigao, which are larger, more organized and generally considered to be of higher quality than many other domestic manufacturers. There are also smaller domestic competitors such as Suzhou Xinrong Best Medical Instruments Co. and Tianjin Walkman Biomaterial Co., which are small companies that manufacture budget products which allow the average selling price for said products to be low.
Over time, the market share that the larger domestic companies hold will increase as the Chinese government implements regulations regarding the quality of products. With quality control in place, smaller domestic companies will no longer be able to compete, which means the larger domestic companies will be the best choice for inexpensive products when compared to the international competitors.
For Further Information
More on the orthopedics market in China can be found in a series of reports published by iData Research entitled the China Market Report Suite for Small Bone and Joint Orthopedic Devices. The suite covers reports on the following markets: Shoulder Reconstruction Devices, Elbow Reconstruction Devices, Hand and Wrist Devices and Foot and Ankle Devices.
The iData report series on small bone and joint devices covers the U.S., China, India, Japan and 15 countries in Europe including Austria, Belgium, Denmark, Finland, France, Germany, Italy, Luxembourg, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, and the United Kingdom. Reports provide a comprehensive analysis including units sold, procedure numbers, market value, forecasts, as well as detailed competitive market shares and analysis of major players' success strategies in each market and segment. To find out more about orthopedic market data or procedure data, register online or email us at email@example.com for a China Market Report Suite for Small Bone and Joint Orthopedic Devices brochure and synopsis.
About iData Research
iData Research (https://www.idataresearch.com) is an international market research and consulting group focused on providing market intelligence for medical device and pharmaceutical companies. iData covers research in: Large & Small Joints, Orthopedics, Orthopedic Soft Tissue Repair and Regeneration, Orthopedic Trauma, Operating Room Equipment, Surgical Microscopes, Robotics and Surgical Navigation, Laparoscopy, Urology, Gynecology, Vascular Access, Endoscopy, Interventional Cardiology, Cardiac Surgery, Cardiac Rhythm Management, Electrophysiology, Ultrasound, X-Ray Imaging, Diagnostic Imaging, Oncology, Spinal Implants and VCF, Spinal MIS, Anesthesiology, Wound Management, Ophthalmics, Dental Operatory Equipment and more.