Prospects for the medical device industry

Published on:

2023/05/10 16:57

The medical device industry is a multidisciplinary, knowledge-intensive and capital-intensive high-tech industry with a high entry threshold. The overall level of medical equipment in Chinese medical institutions is still very low, and about 15% of the medical devices and equipment in primary medical and health institutions nationwide are products from around 1970s and 60% are products from before mid-1980s. Rapid growth of the Chinese medical device market in the next 10 years or even longer.

With the deepening of reform and opening up, the increasing support from the state and the accelerating process of global integration, China's medical device industry has been developing by leaps and bounds. 2005, China has become the third largest medical device market in the world after the United States and Japan. In 2006, China's import and export of medical devices exceeded the $10 billion mark for the first time, with a total import and export value of $10.552 billion, up 17.57% year-on-year, and a cumulative surplus of $3.190 billion. 2007, China's total import and export of medical devices was $12.697 billion, up 20.33% year-on-year, with an annual trade surplus of $4.133 billion.

The world is facing financial crisis, this financial crisis is not the most serious financial crisis occurred in the past 100 years, the financial market crisis is the leading indicator of economic recession, but in the past history, the medical industry does show good resistance to fall. Meanwhile worldwide, M&A activity in the healthcare sector remains strong. It is because of China's relative stability during the financial tsunami and the resilience of the medical industry, coupled with the high profitability of the medical device sub-sector, that capital continues to pour into it.

Although there is a gap between China's medical device industry and that of developed countries, the pace of development of China's medical devices has caught the world's eye. China's latest medical device products are also at the cutting edge of the international medical device industry. In the next few years, China will surpass Japan to become the second largest medical device market in the world. By 2010, China's total medical device output will reach 100 billion yuan, and its share in the world medical device market will reach 5%, and this share will reach 25% by 2050.

With the rapid improvement of domestic enterprises' R&D power and the shift of market focus from high-tech to popular, the competitiveness of domestic products is gradually increasing, providing a rare opportunity for domestic manufacturers to expand their market. It is foreseeable that the future development space of China's medical device industry is huge.

In addition, against the background of the increasingly severe world financial crisis, in order to counteract the adverse impact of the international economic environment on China, the executive meeting of the State Council held on November 5, 2008 proposed the implementation of a proactive fiscal policy and moderately loose monetary policy, and the introduction of ten more powerful measures to expand domestic demand. In the central investment arrangement, a special investment of 4.8 billion yuan was arranged to support the construction of rural health service system. The "4.8 billion new investment in 2008" includes 1.5 billion investment in rural medical equipment, plus 6.771 billion investment in rural medical equipment from the "06 Plan", totaling 8.271 billion. This increment of 8.271 billion is mainly invested in the procurement of rural medical equipment, the time is mainly concentrated in 2008-2010. Low-end medical equipment will face huge demand and become the first to benefit from the industry.

Disclaimer: The content is forwarded from the Internet, this site does not own the ownership, nor does it assume the relevant legal responsibility. If you find that this site has allegedly plagiarized content, please go to contact us to report and provide relevant evidence, once confirmed, this site will immediately remove the allegedly infringing content.

none

Products