Medical technology companies can develop in China, the main reason for the poor infrastructure
China's medical device market is expanding at more than twice the world's level, but there is still a lot of room for development compared to the world level. Under the favorable economic, social, technological and policy environments, China's medical device industry will continue to grow.
Currently, the domestic medical device has 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 categories: high-value medical consumables, low-value medical consumables, 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.