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Medical device market: the scale is expected to exceed 900 billion in 2022
TIME：
2020-10-22 09:31
The scale of China's medical device market has maintained steady growth in the past five years. Recently, iiMedia Consulting released the "2019-2022 China Medical Device Market Big Data and Benchmarking Enterprise Operation Monitoring Report", which provides positive feedback on the development scale of the global medical device market, the development status of the Chinese medical device market, product structure, subdivisions, and development factors. , Typical enterprise cases, development opportunities, and challenges faced.
The scale of China's medical device industry continues to expand, and the degree of concentration will further increase
Globally, the global medical device market exceeded US$400 billion in 2017, and the global medical device market was US$427.8 billion in 2018. It is expected to be close to US$600 billion by 2024, with a compound growth rate of 5.6% from 2017 to 2024. China has become the fourth largest medical device market after the United States, Western Europe, and Japan.
According to iiMedia Consulting's data, the overall market size of China's medical devices has increased from 255.6 billion yuan in 2014 to 530.4 billion yuan in 2018, with an average annual growth rate of about 20%, and both operating income and net profit have maintained a rapid growth trend. It is a golden period for the development of the medical device industry. It is estimated that by 2022, the scale of China's medical device market will exceed 900 billion yuan.
Domestic medical device companies are mainly concentrated in the Pearl River Delta, the Yangtze River Delta and the Beijing-Tianjin-Hebei Rim Bohai Sea. As of April 2019, there are about 18,800 medical device companies nationwide, of which Guangdong, Jiangsu and Beijing are typical provinces and cities , The number of medical device companies are 3743, 2558 and 1852 respectively.
With the acceleration of horizontal and vertical integration of mergers, unions, and reorganizations among enterprises in recent years, the concentration of production will accelerate to large-scale medical device companies, and small and medium-sized enterprises will focus on the research and development of a certain device or a certain device component Work, or being merged or reorganized by large medical device manufacturers, small-scale companies with no competitive advantage will gradually withdraw from the market, thereby increasing industry concentration.
The market structure has tended to be optimized, and the high-end market will become the next force
In terms of market structure, according to different market positioning, the Chinese medical device market basically consists of low-end products and high-end products. The low-end market includes DR equipment, CT machines and other products, and the high-end market includes MRI, PET-CT, etc. product.
In the early days, Chinese medical device companies accounted for the largest market share in my country's medical device industry in the middle and low-end markets, accounting for nearly 70% of the market. The competitive landscape formed a situation of multiple and scattered.
In the high-end market, due to the high technical content and added value of its products, it is not easy to develop and manufacture, technological limitations and resource monopolies in developed countries account for only about 30%, so the high-end products in the industry are still Mainly rely on imports, and the structure of the international medical device market is high-end products accounted for 55%, low-end products accounted for 45%.