In 2018, the market size of China's medical device industry will exceed 500 billion yuan, the market has a huge growth space
With China's continuous development of the economy as well as the continuous improvement of the standard of living, the people's awareness of health care has gradually increased, and therefore the demand for medical equipment products are also rising, coupled with the fact that China is In addition, China is gradually entering the aging society and the policy for medical equipment industry support. The statistics of China Medical Device Industry Strategic Planning and Enterprise Strategy Consulting Report released by Prospect Industry Research Institute show that the market scale of China's medical device industry has reached 170 billion yuan in 2012, and the market scale of China's medical device industry exceeded 200 billion yuan in 2013, and the market scale of China's medical device industry exceeded 300 billion yuan in 2015. 300 billion yuan. As of 2017, the market size of China's medical device industry grew to 445 billion yuan, and preliminary estimates show that in 2018, the market size of China's medical device industry will exceed 500 billion yuan, reaching about 510 billion yuan. Compared with the international market, it is obvious that China's medical device market still has huge growth space.
2012-2018 China's medical device industry market size statistics and forecast
Data source: Prospect Industry Research Institute
China's high-end medical device supply is insufficient and relies on imports
Because of the lagging behind of the relevant basic disciplines and manufacturing processes, China's medical devices are still China's medical equipment is still concentrated in the low-end varieties, high-end medical equipment is mainly dependent on imports. From the perspective of the consumer structure of medical devices, medical imaging, in vitro diagnostics, consumables (including low-value and high-value) accounted for the highest proportion of cardiovascular, orthopedics and other high-value consumables represented in the stage of high growth rate. Overall, the medical imaging field, CT, nuclear **** vibration and ultrasound occupies 16% of the market share in the imaging field, domestic enterprises are mostly low-end products, market share between 10% -20%; in vitro diagnostic field, foreign enterprises due to their technical advantages and "equipment + reagents" closed system strategy, still occupies the domestic in vitro diagnostic market share. occupy the middle and high-end domestic in vitro diagnostic market.
Market share statistics of various products in China's medical device industry in 2018
Data source: organized by Prospect Industry Research Institute
Statistics on the ratio of domestically produced and imported high-end medical devices in China
Data source: organized by Prospect Industry Research Institute
Policy dividend to promote domestic medical devices gradually Improving Competitiveness
In recent years, the government has continued to issue policies to guide the development of the medical device industry. 2014 has seen a significant acceleration in the pace of policy roll-outs, which have further standardized the market and encouraged investment and technological innovation.
Comprehensively, the national policies at all levels of domestic devices and innovative devices to guide the support, so that domestic medical devices already have two major industrial logic to support the rapid growth of the industry: the first part of the city's high-end domestic medical devices, already have the qualification of import substitution; the second to accelerate the review and approval of innovative medical devices is expected to accelerate from the approval of the link between the domestic enterprises listed on the innovative medical devices, to encourage domestic enterprises to invest in medical device innovation and R & D. The second is to speed up the review and approval of innovative medical devices. Enterprises to carry out medical device innovation R & D investment.
It can be said that the multi-faceted industry policy dividends for domestic enterprises to catch up with the creation of a favorable environment, domestic devices are gradually improve their competitiveness, the corresponding device industry leader ushered in the development of a good opportunity.
China's medical device industry market concentration is relatively decentralized Integration and mergers and acquisitions to enhance the trend
In 2017, inside China's 16,000 device manufacturers, most of them are small: currently there are more than 10,000 domestic medical device manufacturers, more than 90% of which are small and medium-sized enterprises, with an average industry revenue scale of 23 million dollars, while the average business income scale of domestic pharmaceutical manufacturers is at 340 million dollars. In addition, due to the late development of the industry, there are a large number of individual households, which further leads to the fragmentation of the concentration of the industry.
Statistics of the number of medical device manufacturers in China from 2013-2017
Data source: compiled by Prospect Industry Research Institute
As the overall domestic medical device companies present a small and scattered pattern, the industry concentration is still low, with the standardization of the industry, the integration and mergers and acquisitions of the domestic medical device enterprises around the core business will become the industry concentration to improve the Inevitable trend, the market share and profitability of heavyweight products are expected to improve.