Driven by multiple factors such as socio-economic development, improved consumption level, accelerated population aging, urbanization, and upgraded consumption structure, the market scale of China's medical device industry maintains stable growth.In 2021, the continued scattering of new crown epidemics frequently, superimposed on the strong promotion of the band purchasing policy, it is both a challenge and an opportunity for China's medical devices. According to Eshare Medical Devices, China's medical device market will reach 890.8 billion in 2021, a year-on-year growth of 16.47%, and the overall market maintains a good trend of high growth. Currently China's lower per capita expenditure on devices and clinical penetration rate, endowed with a higher development space for the medical device industry, it is expected that China's medical device market will still have a decade of golden development period in the future.
Figure: China's medical device market size, 2016-2021 (in billions of yuan)
China's medical device market size, 2016-2021
Source: Eshare Medical Devices
From the perspective of each segment, the market sizes of medical devices, home medical devices, high-value medical consumables, low-value medical consumables, and IVDs The market size of 349.1 billion yuan, 179.5 billion yuan, 146.4 billion yuan, 111.6 billion yuan, 104.2 billion yuan, of which medical equipment is still the largest field, the proportion of China's aging population is increasing, the number of patients with tumors, cardiovascular and cerebrovascular diseases, respiratory diseases, endocrine metabolic diseases, dental diseases and other chronic diseases and the duration of the treatment will also be on the rise, the demand for medical testing, imaging and testing will continue to rise. The demand for testing will continue to rise.
Figure: China's medical device segment market size in 2021 (unit: billion yuan,%)
China's medical device segment market size in 2021
Source: Eshare Medical Devices
High-value medical consumables segment, cardio-cerebral and cerebrovascular, orthopaedics, stomatology, ophthalmology and other related consumables implantation demand is rising. From the perspective of market size, vascular interventional consumables and orthopedic implantation market accounted for the highest proportion, accounting for 29.50% and 27.12% respectively; from the perspective of market growth rate, stomatology, ophthalmology, blood purification year-on-year growth rate is faster, respectively, 28.57%, 17.53% and 16.81%.
Figure 25: China's high-value medical consumables market size by segment in 2021 (in billion yuan)
China's high-value medical consumables market by segment in 2021
Source: Eshare Medical Devices
More on Eshare Medical Devices' "China's Medical Devices Blue Book (2022 Edition)