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According to Panda3dp.com, in 2023, Aikang
Medical(爱康医疗), the leading Chinese manufacturer of
3D-printed orthopedic implants, achieved a revenue of 1.0939 billion CNY, a
4.0% increase from the same period in 2022. However, the company’s net profit was 182.1 million CNY, reflecting an 11.1% decrease
compared to 2022. Currently, Aikang Medical operates nearly 30 metal 3D
printers for producing orthopedic implants, most of which use Electron Beam
Melting (EBM) technology, along with several Selective Laser Melting (SLM) devices.
The company has established itself as one of the largest manufacturers of metal
3D-printed orthopedic implants in China.
△ 2023 Revenue Data
Panda3dp.com also noted that in the 2023
annual report of Aikang Medical, Chairman Li Zhijiang made the following
statement:
“The year 2023 marked the 20th anniversary
of Aikang’s founding. Reflecting on the journey, thanks
to the collective effort of everyone involved, we have achieved many of the
initial goals we set. Today, we are the leading enterprise in China’s artificial joint sector, with a significant market share in hip
and knee implants. On average, one Aikang prosthesis is implanted into a
patient every two minutes, benefiting millions worldwide. After two decades of development, we have
evolved from focusing solely on hip and knee joint implants to offering
comprehensive orthopedic solutions. With advancements in technology and the
clinical application of new innovations, hospitalization for knee replacements
has shortened from two weeks to just 3-4 days. Concurrently, improvements in
manufacturing and quality control have reduced the production cycle for hip and
knee implants from 2-3 months to merely 1-2 weeks. With 3D printing technology,
we can now produce customized implants within 24 hours. Aikang Medical has
established a leading edge in 3D printing technology, synergizing it with the
latest developments in surgical navigation and robotics to empower orthopedics
further."
△ Aikang’s Product Revenue Composition in
2023
Hip and Knee Joint Implant Business
This segment includes both conventionally
manufactured knee implants and those produced using 3D printing technology.
Through various manufacturing techniques, the Group provides a full range of
bone joint implants, suitable for initial, complex, revision, and
reconstructive surgeries, along with accompanying tools.
△ Titanium alloy porous acetabular cups
produced via electron beam metal 3D printing technology, licensed by the China
Food and Drug Administration in 2015, demonstrate superior bone ingrowth.
In the first half of 2023, with the
conclusion of the COVID-19 pandemic, there was a surge in joint surgeries,
leading to growth in the company’s joint business
revenue. However, in the second half of the year, anti-corruption initiatives
impacted the volume of surgeries in hospitals, causing a decline in domestic
joint business revenue. Nevertheless, the company actively expanded its
overseas business in 2023, especially in emerging markets, where growth was
robust. This overseas growth partially offset the decline in domestic sales.
The Group recorded 901.7 million CNY in knee implant revenue in 2023, a 2.1%
decrease year-on-year.
Spine and Trauma Implant Business
The company offers a complete line of
conventional spine and trauma products, along with 3D-printed spine implants.
Leveraging proprietary 3D printing technology, Aikang Medical provides a
differentiated product portfolio, offering comprehensive solutions for spinal
fusion surgeries. At the same time, it continues to explore the application of
3D printing customization in the spinal trauma field, catering to diverse
client needs.
In 2023, the results of centralized
procurement for spine products began to be implemented nationwide. Following
the procurement, Aikang Medical’s products, known for
their advanced fusion technology and excellent postoperative outcomes, gained
the favor of clinical doctors. During this period, the company introduced new
3D-printed spinal products, further enriching its portfolio and providing more
options for clinicians. In 2023, the Group’s spine and
trauma implant business generated 123.3 million CNY in revenue, a year-on-year
increase of 105.4%.
Customized Products and Services
This segment includes customized joint,
bone, and spinal trauma implants, along with value-added surgical services. In
2023, Aikang Medical obtained registration certificates for two new 3D-printed
customized products, further expanding the range of customizable products and
consolidating its dominance in the 3D printing customization field. However, in
the second half of 2023, under the backdrop of anti-corruption efforts, doctors
exercised greater caution when using products not covered by centralized procurement,
leading to a decline in revenue from customized products and services.
Nevertheless, the Group achieved 496 million CNY in revenue from this segment
in 2023, marking a 5.6% increase from 2022.
Research and Development
Aikang Medical continues to build a
research and development system that integrates innovation, technology, and
market demand. On one hand, it iterates and upgrades product lines covered by
centralized procurement to drive innovation in joint implants. On the other
hand, it leverages the advantages of 3D printing technology to develop
differentiated and customized products that meet diverse clinical needs. At the
same time, the company is expanding its focus on digital smart orthopedics and
small limb segments.
In 2023, the company received approval from
China’s National Medical Products Administration (NMPA)
for 18 new Class III medical devices, including 3D-printed knee prostheses,
second-generation 3D-printed interbody cages, 3D-printed custom long-segment
bone and thoracolumbar prostheses, and joint surgical robots. As of December
31, 2023, the Group held 88 Class III medical device registrations from the
NMPA, 15 CE certifications from European regulators, and 2 certifications from
the U.S. FDA.
In terms of innovative products, the
registration approval for the iBot patellar surgery robot has helped the Group
form an integrated digital orthopedic solution, combining 3D printing, surgical
navigation, and robotics. The newly approved 3D-printed acetabular cups and
interbody cages represent second-generation products, featuring active
substances added to the 3D-printed bone trabeculae, upgrading them from
bioinert to bioactive. The launch of 3D-printed custom long-segment bone and
thoracolumbar prostheses signifies the continued maturity of the company's
Custom Orthopedic Solutions (COS) platform, further enhancing its comprehensive
3D printing solutions. |
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