CITIC Construction Investment: COA2025 Orthopedic Conference Focuses on the Theme of Digital Innovation, Optimistic about the Future Growth Space of the Orthopedic Industry.

CITIC Securities' research report stated that from November 12th to 16th, the COA Orthopedic Academic Conference was held in Tianjin, focusing on orthopedic digital technology and intelligent methods. The exhibition area attracted hundreds of top medical equipment manufacturers and innovative companies, with a full range of products covering the latest in orthopedic implants, surgical robots, intelligent diagnostic and treatment equipment, biological materials, and postoperative rehabilitation. In the short term, the three major subdivisions of orthopedics are gradually clearing out, and the operating performance of companies is beginning to turn around. In the medium and long term, after the orthopedic procurement, the market share of domestic manufacturers is expected to increase, and industry concentration is also expected to continue to rise. With the aging population increasing, the penetration rate of orthopedic surgeries continues to rise. Orthopedic consumables companies are expanding into the surgical robot business, which is expected to drive an increase in the volume of implant consumables and create a closed-loop business model of equipment + consumables. At the same time, relevant companies are actively expanding internationally, potentially opening up growth opportunities.