AK Medical reported 1H21 orthopedic revenue of RMB 433.7 million (USD $65.1 million), -6.9% vs. 1H20. The company performed well in 2020, thus its 1H21 revenue grew +2.2% compared to the same period in 2019.
The Chinese joint replacement market entered a turbulent period in June 2021 as it adapted to the national volume-based procurement policy. For reference, drug-eluting stent prices declined by -90% in 2020 when they fell under the same policy in China. With joint replacement implant price trends unstable and distributors avoiding substantial orders in the face of uncertainty, AK Medical lost the momentum that drove its rapid growth in 2019 and 2020.
AK Medical said it will adjust its R&D direction as well as streamline its operational model to adapt to the volume-based procurement environment. The company believes its strong position in the Chinese market could lead to increased share as the policy integrates the domestic orthopedic industry.
Revenue Data
All revenue data is provided in USD millions unless otherwise noted. Sales and growth rates are estimated on an as-reported basis.
Segment Sales
1H21
1H20
$ Chg
% Chg
Joint Replacement
$58.7
$65.1
($6.4)
(9.8%)
Knees
$16.7
$18.9
($2.2)
(11.8%)
Hips
$42.0
$46.2
($4.2)
(9%)
Spine
$4.4
$3.7
$0.7
18.7%
Trauma
$2.1
$1.1
$0.9
81.7%
Total
$65.1
$69.9
($4.8)
(6.9%)
Geographic Sales
1H21
1H20
$ Chg
% Chg
Mainland China
$55.2
$63.1
($8.0)
(12.6%)
Other Countries
$9.9
$6.7
$3.2
47.4%
Total
$65.1
$69.9
($4.8)
(6.9%)
Mike Evers is ORTHOWORLD’s Digital Content Strategist. He can be reached by email.
AK Medical reported 1H21 orthopedic revenue of RMB 433.7 million (USD $65.1 million), -6.9% vs. 1H20. The company performed well in 2020, thus its 1H21 revenue grew +2.2% compared to the same period in 2019.
The Chinese joint replacement market entered a turbulent period in June 2021 as it adapted to the national volume-based procurement...
AK Medical reported 1H21 orthopedic revenue of RMB 433.7 million (USD $65.1 million), -6.9% vs. 1H20. The company performed well in 2020, thus its 1H21 revenue grew +2.2% compared to the same period in 2019.
The Chinese joint replacement market entered a turbulent period in June 2021 as it adapted to the national volume-based procurement policy. For reference, drug-eluting stent prices declined by -90% in 2020 when they fell under the same policy in China. With joint replacement implant price trends unstable and distributors avoiding substantial orders in the face of uncertainty, AK Medical lost the momentum that drove its rapid growth in 2019 and 2020.
AK Medical said it will adjust its R&D direction as well as streamline its operational model to adapt to the volume-based procurement environment. The company believes its strong position in the Chinese market could lead to increased share as the policy integrates the domestic orthopedic industry.
Revenue Data
All revenue data is provided in USD millions unless otherwise noted. Sales and growth rates are estimated on an as-reported basis.
Segment Sales
1H21
1H20
$ Chg
% Chg
Joint Replacement
$58.7
$65.1
($6.4)
(9.8%)
Knees
$16.7
$18.9
($2.2)
(11.8%)
Hips
$42.0
$46.2
($4.2)
(9%)
Spine
$4.4
$3.7
$0.7
18.7%
Trauma
$2.1
$1.1
$0.9
81.7%
Total
$65.1
$69.9
($4.8)
(6.9%)
Geographic Sales
1H21
1H20
$ Chg
% Chg
Mainland China
$55.2
$63.1
($8.0)
(12.6%)
Other Countries
$9.9
$6.7
$3.2
47.4%
Total
$65.1
$69.9
($4.8)
(6.9%)
Mike Evers is ORTHOWORLD’s Digital Content Strategist. He can be reached by email.
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Mike Evers is a Senior Market Analyst and writer with over 15 years of experience in the medical industry, spanning cardiac rhythm management, ER coding and billing, and orthopedics. He joined ORTHOWORLD in 2018, where he provides market analysis and editorial coverage.
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