China’s medical device industry has been experiencing rapid development. It has completed the original technology and capital accumulation, and the initial adjustment of product structure and regional industrial layout. After CFDA’s new round of medical device reform started, the industry ushered in a new historical period. Now it has become a sunrise industry with complete product categories, continually increasing innovation capability and strong market demand. In recent years, in particular, the development speed of the medical device industry has further accelerated. The market scale has maintained a high growth for many years in a row, and the number of export products and the technological content have also been on the rise. In 2016, China’s medical device industry achieved a total sales revenue of 244.8 billion yuan, an increase of 7.9% over the same period of last year. With the further growth of Chinese residents’ demand for medical and health care, it is estimated that the market scale of China’s medical device industry will reach 290 billion yuan in 2018.
Judging from the product structure of China’s medical device market in the recent three years, imaging diagnostic equipment occupies the largest market share, maintaining about 40% in recent years and showing an increasing trend; followed by various types of consumables, accounting for about 20% Market share; orthopedic and implantable medical device market share declining; the remaining market share of dental and other types of equipment occupied.
China has completely realized import substitution in the low-end medical device products. In the high-end fields, enterprises are also increasing codes to enhance their R & D technology. It is noteworthy that the grading medical treatment and treatment reform will continue to deepen in 2018 and gradually spread all over the country. The graded medical treatment will bring the allocation of medical resources to the grass roots, which will mean more opportunities for domestic equipment. The vast grassroots medical market has always been a paradise for domestic brands. From a policy perspective, the state encourages and supports grassroots medical units to use excellent home-made medical devices and equipment. In the next two years, the field of grass-roots equipment, testing and diagnostic equipment, chronic diseases related to household equipment, medical rehabilitation equipment, doctor follow-up equipment, ultrasound and other safe and convenient imaging equipment, or become the focus of attention.
However, in the high-end medical device market, overseas device manufactures have long been the champion. In the competition with foreign advanced medical equipment manufacturers, domestic enterprises are still mostly price wars in most cases, in the high-end areas, few fight back. From the industry’s international development experience, R & D strength to a certain extent determines the quality and level of industry profits.