The Orthopedic Device Market In Asia Pacific Is Expected To Grow To 14 Bn USD In 2027. Will The Orthopedic Device Market Stand On This Projected Figure?:- Ken Research

1. Increasing Road Accidents in South East Asian Countries

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Rates of Road Traffic Death per 100,000 People within South-East Asia, Western Pacific and Across the World, 2013 and 2016

Road traffic injuries are the leading cause of unintentional injuries, accounting for the greatest proportion of deaths among unintentional injuries. They are the leading cause of injury-related disability-adjusted life years (The disability-adjusted life year (DALY) is a measure of overall disease burden, expressed as the number of years lost due to ill health, disability or early death).

Key highlights foe ASEAN countries include -

0% of road traffic accidents in the world take place in low-income countries. In particular, the number of accidents in Southeast Asian countries has been rapidly increasing in recent times.
The penetration rate of two-wheeled vehicles (motorcycles) in Southeast Asian countries is very high in a global context.
Since the 2000s, the number of traffic accidents in Cambodia has been rising and in particular, the number of accidents involving motorcycles driven by young people is high.

WHO reported that Thailand's road collision-related death rate was evaluated to be 32.7 people out of every 100,000 whereas, Vietnam was second in Southeast Asia pacific with region along with a figure of 26.7. Singapore was reported to be the safest country in the region for road collision deaths, with a figure of 2.8. Thailand has seen a small dip in road deaths since 2015, and the country has in place many of the necessary laws to make its roads safer.

2. Recent Acquisitions in the Asia Pacific Orthopedic Device Market

Recent Acquisitions in the Asia Pacific Orthopedic Device Market Including Year of Acquisition, Acquirer, Deal Value, Target Company and its Country

The mergers and acquisitions is driving the orthopedics medical device sector at fast pace due to downward pressure from several factors such as reimbursement and pricing, utilization of costly procedures and rising commoditization.

The international orthopedic device companies have adopted a number of approaches to increase their presence in the APAC region and are focused towards getting approvals to establish their presence in the local market. The companies are entering into APAC region by adopting mergers and acquisitions strategies. For instance, Medtronic Inc. acquired China Kanghui in 2012; and Stryker acquired Trauson in the year 2013.

3. There is intense competition in global Orthopedic Device Market

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The industry is currently in a state of flux - intense competition between players is creating new trends, where Indian companies are looking to expand their portfolios in the lucrative joint segments through global tie-ups, and MNCs are inching in to the trauma segment through Chinese products.

Zimmer Biomet is the leader in Joint segment. The company generated 46% of its APAC revenues from Japan. Medtronic is the market leader in Japanese spinal device market

Stryker's dominance of the fast-growing IM hip screw market and the cannulated screw market as well as its leadership of the IM nail market made it the leading competitor in the Japanese trauma device market.

International companies in the orthopedic field are using India as a manufacturing base by either setting up facilities of their own or by acquiring domestic manufacturers. Some examples include 3M's manufacturing plant in Pune, and Philips Medical Systems' acquisition of Medtronic.

For more insights on the market intelligence, refer to the link below:-

https://www.kenresearch.com/healthcare/medical-devices/asia-pacific-orthopedic-device-market/303061-91.html

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Ken Research is a Market Research and Consulting Firm, based out of India, Indonesia and UAE. Since 2011, we have been assisting clients globally with our Syndicate and Bespoke Market Research and Advisory Services.

This release was published on openPR.