AK Medical reported 1H23 orthopedic sales of RMB 641.3 million ($96.2 million), +21.9% compared to the first half of 2022.
Domestic companies in the Chinese orthopedic market won significant market share as volume-based procurement (VBP) squeezed out large international players. New products and elective procedure recovery in China accelerated AK Medical’s rapid growth from the new VBP volume. A national VBP tender for spine products came online in March 2022, setting the stage for AK Medical to significantly increase its share in that segment as well, as it enters more high-level hospitals. The company has launched the “first domestically produced joint replacement visualization and intelligent assistance system” in its Visual Treatment Solution (VTS) system.
Orthopedic Sales Data
All orthopedic sales data is provided in USD millions unless otherwise noted. We estimate orthopedic sales and growth on an as-reported basis.
Orthopedic Sales by Segment
1H23
1H22
$ Chg
% Chg
Joint Replacement
$86.6
$70.8
$15.8
22.4%
Knees
$32.2
$19.5
$12.7
65.2%
Hips
$54.4
$51.3
$3.1
6.1%
Spine
$4.7
$3.9
$0.8
20.8%
Trauma
$4.9
$4.3
$0.7
15.3%
Total
$96.2
$78.9
$17.3
21.9%
Orthopedic Sales by Geography
1H23
1H22
$ Chg
% Chg
Mainland China
$79.4
$69.5
$9.9
14.3%
Other Countries
$16.8
$9.5
$7.4
78%
Total
$96.2
$78.9
$17.3
21.9%
AK Medical reported 1H23 orthopedic sales of RMB 641.3 million ($96.2 million), +21.9% compared to the first half of 2022.
Domestic companies in the Chinese orthopedic market won significant market share as volume-based procurement (VBP) squeezed out large international players. New products and elective procedure recovery in China...
AK Medical reported 1H23 orthopedic sales of RMB 641.3 million ($96.2 million), +21.9% compared to the first half of 2022.
Domestic companies in the Chinese orthopedic market won significant market share as volume-based procurement (VBP) squeezed out large international players. New products and elective procedure recovery in China accelerated AK Medical’s rapid growth from the new VBP volume. A national VBP tender for spine products came online in March 2022, setting the stage for AK Medical to significantly increase its share in that segment as well, as it enters more high-level hospitals. The company has launched the “first domestically produced joint replacement visualization and intelligent assistance system” in its Visual Treatment Solution (VTS) system.
Orthopedic Sales Data
All orthopedic sales data is provided in USD millions unless otherwise noted. We estimate orthopedic sales and growth on an as-reported basis.
Orthopedic Sales by Segment
1H23
1H22
$ Chg
% Chg
Joint Replacement
$86.6
$70.8
$15.8
22.4%
Knees
$32.2
$19.5
$12.7
65.2%
Hips
$54.4
$51.3
$3.1
6.1%
Spine
$4.7
$3.9
$0.8
20.8%
Trauma
$4.9
$4.3
$0.7
15.3%
Total
$96.2
$78.9
$17.3
21.9%
Orthopedic Sales by Geography
1H23
1H22
$ Chg
% Chg
Mainland China
$79.4
$69.5
$9.9
14.3%
Other Countries
$16.8
$9.5
$7.4
78%
Total
$96.2
$78.9
$17.3
21.9%
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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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