During the period of 2011-2019, China's medical device market size has continued to expand at a rate of more than twice the world level, but there is still a large space for development compared with the world level. Under favorable economic, social, technological and policy environments, China's medical device industry will continue to move forward.
China's medical device market scale is growing rapidly
In 2014-2019, China's medical device market scale continued to expand, and has realized a growth of nearly 400 billion yuan in five years. In terms of growth rate, the annual growth rate is maintained at about 20% on average, far exceeding the growth rate of about 5% in the global market, and it is expected that the gap between the size of China's and the global medical device market will be gradually narrowed in the future. However, in terms of absolute volume, there is still a large gap between China and the global market size
Benefiting from the development of economic level and increasing health demand, China's medical device market ushers in huge development opportunities. Data from the China Medical Device Blue Book 2020 shows that the size of China's medical device market will be about 634.1 billion yuan in 2019, a year-on-year increase of 19.55%.
The medical device market is the largest segment of China's medical devices
Currently, domestic medical devices have become a sunrise industry with strong innovation, complete product categories and strong market demand. According to the Institute of Medical Devices, medical devices can be divided into four major categories: high-value medical supplies, low-value medical supplies, medical equipment, and IVD (in vitro diagnostics).
Based on the use of different purposes, the high-value medical consumables market can be divided into orthopedic implantation, vascular intervention, neurosurgery, ophthalmology, stomatology, blood purification, non-vascular interventions, electrophysiology and pacemakers, and other **** nine subcategories. According to incomplete statistics, the medical device market remains the largest segment of China's medical devices in 2019, with a market size of about 360.1 billion yuan, a year-on-year growth of 19.52%.
The market share of each sub-sector of the domestic medical device market is broadly similar to that of the global market.In 2019, the medical equipment sub-sector owns more than half of the market share, accounting for 56.79%; followed by the high-value medical consumables sub-sector, with a market share of 19.78%; followed by low-value medical consumables, with a market share of 12.14%; and the smallest sub-sector is the in vitro diagnostics sub-sector, which occupies a market share of 11.39% market share.
China's medical device industry localization rate is low
China's medical device industry localization rate is still low. Europe, the United States, Japan and other developed countries related to the strength of the basic disciplines, basic research industrialization and development of rich experience, has been in the field of medical equipment has accumulated a number of advanced technology experience. And the foreign medical device industry has a long history of development, some of the leading enterprises have accumulated a good reputation in the industry, the brand advantage is obvious.
From the point of view of China's medical equipment market share in 2019, in addition to the monitor products have basically realized the import substitution, China's medical equipment line of domestic retention rate is relatively low, especially in the high-end market is still dominated by imported products, the import substitution market is vast.
Domestic substitution promotes the rapid development of medical equipment industry
Currently, the nationalization rate of domestic medical equipment is not high, and the high-end product field is still dominated by imported products. However, in recent years, with the continuous development of China's medical equipment industry, the relevant R & D production technology and imported products to narrow the gap, has gradually formed the ability to import substitution.
In the future, the vast import substitution market will be the domestic medical equipment companies must fight. The smooth progress of import substitution must seize the two advantages of technology and cost at the same time, as the domestic medical device industry leader, the import substitution advantage is obvious.
From the policy end, the state for the medical device industry to increase support, encourage medical device innovation and research and development, and continue to improve the public health care institutions domestic medical diagnostic and treatment equipment and other medical equipment market share, to encourage import substitution.
-- For more information, please refer to the Strategic Planning and Enterprise Strategy Consulting Report for China's Medical Device Industry
.