Showing posts with label Asia Pacific Orthopedic Device Market. Show all posts
Showing posts with label Asia Pacific Orthopedic Device Market. Show all posts

Thursday, May 11, 2023

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

Ortho-Biology Device Market

To Know More about this report, download a Free Sample Report

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

Ortho-Biology 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

Ortho-Biology Device Market

Visit This link:- Request for Custom Report

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:-

Challenges Asia Pacific Orthopedic Device Market

Follow Us

Facebook | Twitter | LinkedIn | Instagram

Wednesday, May 10, 2023

Asia Pacific Orthopedic Device reached a revenue of more than 7 Bn USD in 2018. Will the market continue this growth trajectory in Asia Pacific?:- Ken Research

 Buy Now

1. Increasing Sedentary Lifestyle in Asian Countries

Survey Findings for Top Health Concerns of Workers in Asia- Pacific, 2016

Asia Pacific Orthopedic Device Market

To Know More about this report, download a Free Sample Report

With rising life expectancy, increasingly sedentary lifestyles and surge in incidence of obesity, Asia pacific is witnessing a resultant rise in Orthopedic problems as natural consequence.

In Asia-Pacific Workforce, nine out of 10 workers (85%) spend at least six hours a day sitting at their desk, with five out of 10 eating lunch at their work desk two to five times per week. Indonesia had the highest number of workers eating at their desks with 71% eating lunch at their desk two to five times per week in 2016.

The 2016 survey also revealed that majority of Asia-Pacific’s workforce (83%) exercise less than three times per week, with six out of 10 getting less than 30 minutes of physical activity a day at their workplace. This situation is of greater concern in Hong Kong, where 66.0% of the local workforce engages in physical activities once a week or less, with seven out of 10 workers getting less than 30 minutes of physical activity a day thus, a significantly worrying trend in a market that has been recording rising obesity rates in recent years.

2. Increasing geriatric population in the Asia Pacific Region

Geriatric Population and Growth Rate in Major Asian Countries Including Australia, China, India and Japan, 2015-2018

Asia Pacific Orthopedic Device Market

Visit This link:- Request for Custom Report

The proportion of aged people is expected to increase in Asia with Japan and Korea aging faster than other Asian nations. Laos will remain the youngest nation in Asia. In accordance with the Asia pacific News Network, Asia pacific region is on track to have the oldest population in the world in next few decades. Japan has the largest population of elderly people at approximately 27% of the entire globe, as of 2018. It is projected that the elderly population in the country in next decade will grow by 37.3% by the year ending 2030. Korea is growing old faster than any other country. The aging population is projected to grow from 18.5% to 31.4% by 2030. The country for the first time has more elder people than younger people. It reached the cusp of becoming an older society much before its neighbours. Thailand is the third rapidly aging country in Asia. Thailand’s population is projected to grow by 26.9% by 2030, which means one out of four Thais will be a senior citizen. As the elderly population grows, need for Orthopedic knee, hip, shoulder, ankle surgery increases.

3. Innovative Products and Procedures in Orthopedic Device Market Due to Increase in R&D Technology

Asia Pacific Orthopedic Device Market

Reduced procedure time seems to be one of the primary requirements from patients as well as healthcare professionals. Growing demand for Orthopedic procedures from geriatric population makes it essential for advanced and highly accurate products. Advanced technology makes these devices simple, user-friendly, and accurate. Rise in R&D and investments in collaborations for enhanced product portfolio can be expected in the near future.

In 2012, Hong Kong acquired the first Robotic Interactive Orthopedic (RIO) system in Asia pacific from MAKO Surgical Corporation (acquired by Stryker Corp.). The RIO system is mainly used for partial knee replacement surgeries, but can potentially be used for hip, ligament, and spinal surgeries as well. The RIO system enables the surgeon to hold and guide the robotic arm during the surgery, rather than operate it remotely on a console. Not only can surgeons perform more difficult surgeries with the RIO system, but also physicians with less experience can perform these surgeries with same ease and convenience.

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

Asia Pacific Orthopedic Device Market

Follow Us

Facebook | Twitter | LinkedIn | Instagram