The world’s leading medical devices companies will gather on Thursday in Beijing to showcase a selection of products designed to treat a range of orthopedic ailments, ranging from bone tumors to arthritis. But it’s the first Chinese Orthopedic Association (COA) Congress appearance of recently formed collaboration Medtronic-Kanghui that is likely to gather the most attention, says business intelligence analysts GlobalData.
Medtronic, the leading global medical technology company, agreed to an US$816m deal for the acquisition of Chinese orthopedic implant maker China Kanghui Holdings in late September, and the medical devices industry is eager to see what the partnership will produce.
“How Medtronic will leverage Kanghui’s strong R&D and manufacturing operations to expand its trauma and spine portfolio to serve the rapidly-growing Chinese orthopedic market is the first question expected to be answered,” says Linda Tian, MSc, GlobalData’s Analyst covering Orthopedic Devices.
“The debut of Medtronic-Kanghui at the 7th COA Congress will be exceptionally eye-catching,” she added.
Tian also expects the trauma fixation sector to once again be a major talking point at the congress as China deals with the side-effects of a rapidly expanding economy:
“In a society which continues to seek out a more modern lifestyle such as increased automobile purchases and urbanization, the incidence of orthopedic trauma in China is ramping up at an alarming rate and trauma has become one of the quickest-growing segments in the Chinese orthopedic market.”
China’s trauma fixation market had a 2011 value of US$432m, but an explosive Compound Annual Growth Rate (CAGR) of 18.2% will see that figure more than triple by just 2018, to US$1.4 billion.
Further to the presentations of the big players in the orthopedics medical devices industry, GlobalData expects 2012’s COA Congress to play host to a greater number of start-ups from Asian countries aiming to gain an early foothold in this relatively immature market.
“For those who want to capitalize the most in the lucrative Chinese orthopedic market, this precious chance for a glimpse of the current competitive landscape should definitely not be missed,” concludes Tian.
NOTES TO EDITORS
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