The development of China's medical device industry in 2017


Medical Device Industry Development

1. Definition

Medical devices refer to instruments, equipment, instruments, in vitro diagnostics and calibrators, materials and other similar or related items that are directly or indirectly used on the human body, including the required software, and are mainly used for medical diagnosis, monitoring and treatment.

A wide variety of medical device products can be roughly classified according to the end customer and product characteristics:

As can be seen from the above table, medical devices are characterized by great differences between products, including simpler products such as hemostatic sponges and disposable syringes, as well as complex large-scale devices such as medical magnetic resonance imaging equipment (MRI); basic fields Involved in electronic technology, computer technology, sensor technology, signal processing technology, biochemistry, clinical medicine, precision machinery, optics, automatic control, fluid mechanics and many other aspects. Therefore, the development of medical devices is greatly affected by the level of development of basic industries in the corresponding countries. The United States, Europe, Japan and other places have long been in the leading position in the world due to their advanced industrial base and years of technological accumulation.

2. Market situation

The global medical device industry is a multidisciplinary, knowledge-intensive, and capital-intensive high-tech industry. It combines various high-tech achievements and combines traditional industries with biomedical engineering, electronic information technology, and modern medical imaging technologies. With high barriers and high concentration, it is one of the standards for the country's manufacturing and high-tech development.

2015-2022 Global Medical Devices Market Size and Forecast (US$100 million)

China's medical device market grows rapidly

China is a country with a large population, and the medical device industry is a strategic emerging industry supported by the country with a broad development prospect. With the rapid economic development, China's medical device industry has grown rapidly. Market sales have increased from 43.4 billion yuan in 2006 to 380 billion yuan in 20157. The medical device industry in China is in a period of rapid development.

Market Size of China's Medical Device Industry from 2006 to 2015 (100 million yuan)

Compared with the international market, China's medical device market has huge room for growth. In the global medical device market, the size of the medical device market has been comparable to that of the drug market in the same period, while the Chinese medical device market is only 14% of the drug market in the same period8. There will be ample room for growth in the future. With the economic development, urbanization, population aging, and the increasing localization of medical devices, the increase in the coverage rate of medical insurance, and the increasing incidence of chronic diseases, the demand for medical enterprises will continue to be released, thereby promoting the rapid expansion of the medical device market. With the transfer of global manufacturing capacity and the improvement of domestic equipment manufacturing capabilities, China has become an important exporter of medical devices, and the scale of medical device exports has been increasing year by year. According to statistics from China Customs, in 2015, the export value of medical devices reached US$38.489 billion, and the compound annual growth rate in the past five years reached 11.18%. As China's medical device companies advance in technology and scale, exports of high-tech and high-value-added products will gradually expand, and Chinese medical device companies will play a more important role in the global medical device trade.

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