Pharmaion: Orthopedic Devices and Materials Market in China to Grow at Over 18% till 2021

Pharmaion recently published a report, “China Orthopedic Devices and Materials Market Opportunities, 2011-2021“, in which it highlights that the orthopedic devices and materials market in China is anticipated to grow at a CAGR of over 18% during 2016 – 2021.
According to the report:

Few of the major factors anticipated to influence the growth of orthopedic devices and materials market in China include increasing number of elderly population suffering from orthopedic conditions, such as osteoporosis, osteoarthritis, rheumatoid arthritis, etc., coupled with escalating number of road accidents in the country. Moreover, increasing purchasing power and introduction of government aided public medical insurance schemes has reduced the financial burden on patients, thereby positively influencing their willingness to receive orthopedic care.

Mr. Brijesh Khurana, Consultant with Pharmaion Consultants commented:

China orthopedic devices and materials market will continue to exhibit robust growth over the next five years. The government is also increasing its focus on domestically developed innovative orthopedic implants, and has consequently issued Special Approval Process for Innovative Medical Devices Regulation, which is encouraging manufacturers to develop highly advanced orthopedic device in the country.

Click here to view the full press release.