Naibec's Bone Regeneration Biomaterial Achieves Record Initial Implant Shipment in China... "Benefiting from China's Aging Population"

[Asia Economy Reporter Yoo Hyun-seok] Nibec announced on the 1st that its developed bone regeneration biomaterial has started exporting to China after receiving the largest initial shipment following the sales approval from the National Medical Products Administration (NMPA) of China.

Since receiving product item approval from the Chinese NMPA last year, Nibec has been preparing to conduct organized sales activities in China. They have held weekly regular meetings with the world's first and second largest implant distributors and devised product package designs suitable for the Chinese market, completing all preparations for entering the Chinese implant market.

Nibec’s bone regeneration biomaterial demonstrated efficacy through a large-scale clinical trial involving 280 patients at five major hospitals in China. As it is the first imported medical device to undergo clinical trials in China, product verification has also been completed.

Officials from the Chinese university hospitals leading the clinical trials stated, “Nibec’s bone regeneration biomaterial showed very high satisfaction not only in usability but also in efficacy and safety,” adding, “With the exponential increase in implant procedures in China, Nibec’s bone regeneration products are expected to significantly contribute to market growth.”

The Chinese implant market is recording the highest growth rate worldwide. According to China Zhaoshang Securities, the Chinese implant market size is expected to grow at an average annual rate of about 30%, reaching 24 trillion KRW by 2025.

A Nibec representative said, “Although we received approval from the Chinese NMPA last year, full-scale exports were delayed due to COVID-19,” and added, “This year, exports will be actively carried out starting with China and expanding to major markets worldwide, and sales are expected to grow significantly compared to the previous year.”

He further explained, “The Chinese bone regeneration biomaterial market is growing at the fastest pace globally,” and said, “We are establishing marketing and sales strategies not only with Straumann but also with numerous global companies. Additionally, the ‘periodontal tissue regeneration barrier membrane’ product, which is being developed following existing products, has also completed clinical trials in China, so the number of approved products is expected to increase.”