Driven by many factors such as the expansion of the global population base, aging, and the increasing awareness of human health care, the global medical device industry has been developing rapidly, and has become a pillar industry of the world economy.
In recent years, the scale of the global medical device industry has continued to improve, and according to the data published in the "China Medical Device Blue Book (2021 Edition)", the global medical device market will reach USD 493.5 billion in 2020, an increase of 8.96% year-on-year.Evaluate MedTech's "World Preview 2018,Outlook to 2024" forecasts that the global medical devices market will reach $594.5 billion in 2024, growing at a CAGR of 4.76% during 2020-2024.
In the global medical device market, North America is the largest production and consumption region, which is expected to account for more than 40% of the global market measured by market size; followed by Europe and Asia, which are expected to account for about 30% and 10% of the global market. After a long period of development, the medical device industry in North America and Europe has entered a mature stage, and its leading position in the market is guaranteed by cutting-edge science and technology and strong financial strength. According to the Top 100 Medical Device Companies List released by QMED, an authoritative foreign third-party website, the top 10 companies in the global medical device market in 2019 are all occupied by foreign brands, accounting for 42.93% of the global market share. With the development of emerging economies, the market represented by Asia-Pacific and Latin America has grown faster in recent years.
3 China's medical device industry development status
Compared to the global medical device market, China's medical device market started late, the overall development is roughly divided into three stages: the first stage is the founding of our country to 1978, China's first X-ray machine was born in 1952, the birth of the X-ray machine laid the foundation for the medical device to become a branch in the field of health, to achieve From scratch; the second stage is 1978 to 2000, medical equipment ushered in the rapid development of the stage, China is in the stage of catching up with the international advanced level; the third stage is 2000 to the present, China's medical equipment industry from imitation to the development of individual product market technology gradually beyond.
With the continuous development of China's economy, the level of income of the population and the level of medical consumption demand continues to increase, driven by the huge population base and rapidly growing demand for medical services, China's medical device industry is expanding, has become one of the main regions to drive the development of the global industry. According to Pharmaceutical Economic News, in 2010, China's medical device market has jumped to the second place in the world, exceeding 100 billion yuan mark for the first time, especially in a variety of low-end and medium-end medical device products, with the output ranking the first in the world. 2020 China's medical device market size of about 772.1 billion yuan, a year-on-year growth of 21.76%, far exceeding the world's average and the growth rate of China's GDP; it is expected that by 2023 China's medical device market size will exceed trillion.
In 2020, medical equipment accounted for 59.01% of China's medical device market, and the medical consumables market accounted for 29.47% of the total medical device market, of which the high-value medical consumables market accounted for 16.90%. Medical equipment and medical consumables generally act directly or indirectly on the human body, the technical threshold, production process requirements are strict, high value, occupies a major share of China's medical device market, market space is vast.