China’s Medical Device Exports Dropped by 31% in 2021, Why?

2022-02-11

I.General situation

In 2021, China’s total foreign trade in medical devices reached 134.94 billion US dollars, a year-on-year decrease of 18.8%. Among them, the import volume was US $50.21 billion, a year-on-year increase of 18.4%; the export volume was 84.73 billion US dollars, a decrease of 31.5%.

II. Subdivision situation

The growth rate of import and export of IVD reagent was the highest.Among the subcategories, the total trade in medical consumables was the highest, accounting for US $57.44 billion, accounting for 43.3%, while the total trade in oral equipment and materials was the lowest, at US $2.64 billion, accounting for 2.0%. On the export side, the export value of medical consumables was US $46.72 billion, the most obvious decline, down 50.4 per cent from the same period last year, while IVD reagents became the fastest growing category, up 151.7 per cent from the same period last year. This was followed by $11.7 billion for medical consumables; the lowest was $600m for medical dressings, an increase of 37.6 per cent over the same period last year; the largest increase was for IVD instruments, with an increase of nearly 50 per cent.

On the export side, the export value of medical consumables was US $46.72 billion, the most obvious decline, down 50.4 per cent from the same period last year, while IVD reagents became the fastest growing category, up 151.7 per cent from the same period last year.

III. Analysis of key commodities

The trade volume of epidemic prevention materials dropped sharply.The demand for import and export of epidemic prevention materials such as masks and medical protective clothing dropped somewhat. The import of medical protective clothing was US $30 million, down 93.0% from the same period last year, and the export of medical masks was US $12.96 billion, down 75.95% from the same period last year.

In addition, the import of diagnostic reagents (including novel coronavirus test reagents) was US $1.76 billion, an increase of 25.6% over the same period last year, while the export of thermometers was US $990 million, an decline of 59.3%. over the same period last year.

IV.Trade partner analysis

i. Key Countrie

Import Market:led by US

In terms of import market, the United States, Germany, Japan and other countries were the main sources. Among them, the import volume of the United States reached US $12.09 billion, accounting for 24.1%, with a year-on-year increase of 19.5%. The largest year-on-year increase was Singapore, reaching 61.5%, and the import volume was US $1.4 billion, accounting for 2.8%. Among them, the import volume of the United States reached US $12.09 billion, accounting for 24.1%, with a year-on-year increase of 19.5%. The largest year-on-year increase was Singapore, reaching 61.5%, and the import volume was US $1.4 billion, accounting for 2.8%.

Export market: exports to India increased by 48%

In terms of export market, the main export places were the United States, Germany, Britain and Japan. Among them, the total export to the United States was the highest, US $21.08 billion, accounting for 24.9%, a year-on-year decrease of 35.7%. India had the largest growth rate in the top ten export markets, with a year-on-year increase of 48.2% and an export volume of US $2.04 billion, accounting for 2.4%.

ii.“The Belt and Road” countries

The import volume exceeded 8 billion US dollars

In 2021, China’s total import of medical devices from along the “Belt and Road” reached US $8.07 billion, with a year-on-year growth of 20.6%. The main importing countries are Singapore, South Korea, Malaysia, Austria, Israel and other places. Singapore had the highest import volume, at US $1.39 billion, up 61.4 per cent from a year earlier, accounting for 17.4 per cent.

The export volume reached 24 billion US dollars.

In 2021, China’s exports of medical devices to countries along the “Belt and Road ” totaled US $24.11 billion, down 24.4% from the same period last year. The main exporting countries are South Korea, Italy, Indonesia, Thailand, Vietnam and other places. South Korea is the country with the highest export volume, at US $1.7 billion, down 17.3 per cent from a year earlier.

⌈Source of information：Medworld⌉

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