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China has become the 3rd largest market for orthopedic products with CAGR of 18%

Post Time:2012-09-10 [Large Middle Small] View:

"Without local leading medical equipments company with international competitiveness and the support of national strategy for developing medical industry, there can be no sustainable dynamic for independent innovation of medical equipments at home." The experts attended the 2nd China Independent Innovation Workshop for Medical Equipments (Orthopedic use) in Zhangjiagang city, Jiangsu, analyzed the status quo of independent innovation for medical equipments in China and existing problems, and gave some good advices in which suggested the government should strengthen the policy support and so forth.   
According to statistics, the Chinese market scale for orthopedic products in 2009 is RMB 6.1 billion, the CAGRbetween 2009 to 2015 will maintain at 18.1%. Since 2010, China has become the 3rd largest market for orthopedic products in the world and it is expected to surpass Japan to take the 2nd place in the world in 2015. Currently in China, the multinational companies have occupied 64% and 61% market shares of the articulatory products and the spinal products market respectively. Due to the high prices of imports, the burdens on patients are quite heavy.  
The experts also pointed out, a pronounced gap still exists as China compared with the advanced countries in the fields of medical equipments R&D, quality control, industry technical standards, registration and certification, quality supervision, and application promotion, etc. They also suggested, the regulatory agencies should offer preferential tax policies as well as easy financing conditions to the enterprises, create special programs for key medical equipment scientific and technological innovations, energetically support those research programs for medical equipments with own independent intellectual properties and with strong competitiveness. Based on the R&D centers of enterprises and key labs, they should encourage hospitals to take part in developing innovative medical equipments to establish and improve a batch of technical platforms and bases for research and development, speed up the industrialization of those products with independent intellectual property rights and build up an innovative value chain wich covers "core technologies - strategic products - engineering and large-scale applications", in order to form some landmark products and international brands as well.  
Date: Aug. 30, 2012