The global orthopedic devices market is expected to reach $41.2 billion by 2019. The market is expected to grow at compounded annual growth rate of 4.9% during the period. A growing geriatric population and increasing demand for noninvasive treatments are boosting the market.
The knee segment leads the market in terms of revenue. The hip segment is growing at a CAGR of 5.9%, due to an increased number of hip fractures. North America dominates the market for orthopedic devices because of the prevalence of obesity and osteoarthritis and higher value per device. The Asia Pacific market will see significant growth due to increasing population density and expanding healthcare markets.
Major players in the orthopedic devices market include Zimmer-Biomet, DePuy Synthes, Stryker, Smith & Nephew and Medtronic.
The Indian Orthopedics market is characterized by a large number of companies, comprising both domestic and international players. More than 70% of the sector is supplied by imports which offer products with premium quality and prices. Most domestic manufacturers have largely participated in the lower value end of the market and compete on prices. Physicians however, prefer to use international products because of their superior technology and quality. For e.g., about 80% of the joint replacement implants used by Indian surgeons are imported. Some of the key characteristics of the Indian market.
The estimation of the current market size of the Indian orthopedic implants market is around USD 375 Mn (Rs. 2,400 crores)2. We expect the overall market to grow at an annual rate of around 20% between 2017 and 2020, propelled by growth in the joints segment. Growth will subsequently moderate to around 13% between 2020 and 2025 and will flatten to around 10% by 2030.The orthopedic implants market can be broadly divided on the basis of the area of treatment, into 4 major segments: Trauma, Spine, Knee and Hip. The market is shared approximately in an equal ratio between the Trauma & Spine segments on one hand and joints (Knee & Hip) on the other. While Indian manufacturers are largely confined to the trauma and spine market with an estimated 80% market share, multinational companies dominate the higher value knee and hip segments, capturing more than 80% of the market.
Spine Market
The Indian spine market does not have too many domestic players and it is limited by its elective nature and high out-of-pocket costs. Continued growth is expected in the spine market over the long term because there is an increasing demand for motion preservation technologies. Fusion devices still make up the largest market share for spinal devices, but the non-fusion market is expected to grow through 2019. Medtronic, Zimmer Biomet and Depuy Synthes dominate the market while domestic companies also have a small market shares.Learn about the 10 most relevant Indian Spinal Companies:
1.- Matrix Meditec Pvt Ltd
Established in 2004, they are located in the city of Ahmedabad, which is known as the pharmaceutical & textile hub of India. They are into manufacturing & exporting of CE certified orthopaedic implants, orthopaedic instruments and allied instruments. They have deployed latest robotic machines & advanced CNC machines to achieve high degree of precision in their implants. They also have a special profile cutting machine to cut intrinsic anatomical shapes. http://www.matrixmeditec.com
2.- Greens Surgicals Pvt. Ltd
Since 1997, Greens Surgicals Pvt. Ltd. is engaged in manufacturing, exporting and supplying of orthopaedic and maxillofacial implants. They assure delivery of quality products 316 LVM (ASTM F-138/ISO-5832-1), Titanium (ASTM-136) under their brand GREENS ®.https://www.greensurgicals.com
3.- BIOTEK
BIOTEK has emerged among others with a reputation as the premium manufacturer and marketer of orthopedic products made to international specifications and standards. BIOTEK believes in upgrading the quality standards to new heights in India and around the world. BIOTEK means the responsiveness and innovation of a small company, with the resources and market presence of a large company. At BIOTEK, the pursuit of quality is a key business focus. Our products have found appreciative acceptance in the field of medical profession, hence recommended widely in India, and imported by several countries for their quality and cost effectiveness.http://www.biotekortho.com
4.- SH Pitkar
5.- Bonetech Medisys
Bonetech Medisys Pvt. Ltd. is situated at Ahmedabad, Gujarat, India. They are one of India’s commended manufactures and suppliers of high quality Orthopaedic Implants and Instruments. They offer a wide range of the highest quality orthoapaedic implants & instrumentation along with other associated product sat reasonable cost. They offer all Orthopaedic Products made up of Stainless Steel 316 L or Titanium.Their range includes such as Trauma Implants, Inter Locking Nailing Systems, Spine Systems, Prosthesis,Arthroscopy Implants & Instruments.Bonetech Medisys Pvt. Ltd. acquired INDIAN FDA ISO 9001, ISO 13485 Compliance certification and is equipped with the sophisticated and most advanced Automization Technology for the manufacturing of these products. They also deal for the Export country i.e. USA, Mexico, Vietnam, Russia, Kenya and Arab Countries. http://www.bonetechmedisys.com
6.- GPC Medical
GPC Medical is an earmarked Indian hospital & medical supplies company with the uniqueness of supplying the best medical equipment and orthopedic implants/instruments all over the globe. GPC Medical backed by experience since 1930, is the best name in India for high quality hospital and medical products. GPC Medical is ISO 9001:2008 & ISO 13485:2012 Certified, WHO-GMP Compliant, and has a large number of products that are CE Marked. http://www.gpcmedical.com
7.- HCM Orthocare
Established in year 2006, HCM Orthocare is one of the leading names approved by ISOQAR to ISO 9001:2008 & ISO 13485:2003 for manufacturing, trading and exporting wide range of orthopedic implants, orthopedic instruments, surgical orthopedic implants and surgical orthopedic instruments. http://www.hcmortho.com
In the year 1999 Mr. Mukesh M. Hadvani, started this journey by setting up a manufacturing unit in Bangalore for Orthopedic Medical Devices. From that day to till date numbers of mile stones are added in the profile of this group. A separate sales organization had been established in the year 1999 with the registered brand name of ‘HARDIK’. It was a turnkey decision when company decided to established a new division for manufacturing & Export at Rajkot in Gujarat state, INDIA in the year 2007. http://www.hardikinternational.com
9.- MJ Surgical
MJ Surgical is India’s leading orthopaedic Implants & Instruments manufacturing company based at Ahmedabad, Gujarat. With a wide range of affordable and precise quality stainless steel and titanium implants and instruments.MJ Surgical was established in the year of 1998 by young entrepreneurs Mr. Girishbhai Balochiya and Mr. Sanjaybhai Balochiya. MJ Surgical aims at providing world class ortho implants and instruments at the affordable cost. Designed in line with statutory and regulatory requirements, our range is widely acknowledged for highly sterilized, safe to use, corrosion proof, application specific design and reliability. http://www.mjsurgical.com
10.- General Surgical Company INDIA Pvt.Ltd.(GESCO)
GESCO gives utmost priority to serving the best quality products considering the serious applications the products serve. In a span of 50+ years of manufacturing and exporting implants and various other surgical equipment, we have gained the trust of clients across India and globally across South America and African Countries. The company has been identified with the best of the medical and standard certifications like US-based Registrar Corp, German and Swiss certifications, the CE certification, dual ISO certification, Czech republic’s ITC certificate and others over the years.http://gescoworld.com/index.php
SOURCE: Sathguru Management Consultants Private Limited( www.sathguru.com), Transparencymarketresearch (Orthopedic Devices Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast).
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