Brazilian, Indian and Chinese Orthopedic Markets to See Strong Growth Through 2017
TORONTO, Jan. 24, 2013 /PRNewswire/ -- According to Millennium Research Group (MRG), the global authority on medical technology market intelligence, the Brazilian, Indian and Chinese markets for spinal implants and bone graft substitutes (BGS) will grow strongly, to a total value of more than $3 billion by 2017, while the trauma and reconstructive joint implants market will grow even more, to a total value of more than $4.5 billion by 2017. These trends are driven by increasing demand from a growing over-50 demographic, as well as significant economic expansion.
Multinational companies will express particular interest in acquiring local manufacturers to benefit from their existing distribution networks and local market knowledge. For example, in November 2012, Medtronic announced an acquisition agreement with Kanghui Holdings, a Chinese medical device company, explicitly citing a larger and more direct local presence and the fast growth of the Chinese medical device markets as reasons for the acquisition.
Another notable example of a strategic acquisition was that of Synthes by Johnson & Johnson in June 2012. The combination of Synthes and Johnson & Johnson's DePuy will further boost the company's standing as a comprehensive global orthopedics business by further broadening its product lines.
Manufacturers are also becoming increasingly aware that training programs on the various orthopedic procedures are a good way to increase physician adoption of treatment options, especially those that are less-established or novel. For example, Aesculap (a B. Braun company) plans to expand its training and development offerings in Brazil and Stryker recently launched a mobile training center in Shanghai, China. Local comp