Market estimate | China ultrasonic imaging diagnostic equipment market estimate report（2023）

The report is updated on an annual basis.

01

Product Brief Introduction

1. Product classification

According to NMPA’s 2017 Medical Device Classification Catalogue, ultrasonic imaging diagnostic equipment belongs to the sixth category of medical imaging devices, and the management categories are II and III.

On the track, ultrasonic imaging diagnostic equipment belongs to medical equipment-diagnostic equipment-medical imaging equipment-ultrasonic imaging diagnostic equipment.

02

Development Drivers

1. Policy factors

Since the “14th Five-Year Plan”, the National Health Commission has repeatedly issued relevant policies and regulations to vigorously support the development of high-end medical equipment such as ultrasonic imaging diagnostic equipment, and the Ministry of Finance and the Ministry of Industry and Information Technology clearly requires 137 kinds of equipment, including ultrasonic imaging diagnostic equipment, to be purchased domestically in May 2021.

Table 1. Policies and regulations related to ultrasonic imaging diagnostic equipment in recent years

Material Source: The Officiail Website of National Health Commission, Ministry of Industry and Information Technology

2. Social and economic factors

With the development of the epidemic in the past two years, the shortcomings of insufficient medical resources in China have gradually revealed, and the contradiction with the growing health awareness and medical needs of our people has gradually increased. On November 3, 2021, the National Health Commission issued the “Thousand Counties Project” County Hospital Comprehensive Capacity Improvement Plan (2021-2025), which clearly promotes the sinking of provincial and municipal quality medical resources to the county, and gradually realize the integration and sharing of medical resources within the county. The plan proposes that by 2025, at least 1,000 county hospitals in the country will reach the level of medical service of tertiary hospitals, play the role of county medical centers, lay the foundation for the realization of “General diseases solved in the city and county”, and fully make up for the lack of medical resources in our country, and ultrasonic imaging diagnostic equipment as the inspection equipment that secondary and above hospitals must be equipped with, and the demand will be further improved.

In recent years, most hospitals in our country have been losing money, and many private hospitals have closed down. Public hospitals are covered and controlled by the government for costs (personnel costs), and hospitals have a weak willingness to purchase large medical equipment.

03

Market size

1. Calculation logic

Determining the list of enterprises: China has a high market concentration in the field of ultrasonic imaging diagnostic equipment, and the main participants are: Mindray Medical, Siemens Medical, GE Medical, Philips Medical and other enterprises through Joinchain MDCLOUD screening.

Disassembly of corporate revenue: dismantling revenue of listed companies through public data. Taking GE as an example, through revenue disassembly，the  proportion of the healthcare business in China is got; The proportion of ultrasonic imaging diagnostic equipment in all GE products was analyzed in combination with the Joinchain MDCLOUD, and the revenue of ultrasonic imaging diagnostic equipment of GE in China was finally obtained.

The results of the integrated calculation are as follows: After disassembling the revenue of all enterprises, the market concentration and the proportion of each enterprise in this field are analyzed by using the Joinchain MDCLOUD bidding data, and the market size of ultrasonic imaging diagnostic equipment is obtained by synthesizing the above results.

2. Data foundation

(1)Bidding data

The data range is the open bidding data of various medical institutions, scientific research institutions, testing institutions, universities and other institutions from 2019 to 2021; The data content includes winning time, winning quantity, winning price, winning brand, winning model, bidding unit, etc.

(2) Report of listed enterprises

Mainly for the main companies in the field of listing quarterly reports, annual reports, prospectus and other information.

3. Market size forecasting

By estimating the market size of ultrasonic imaging diagnostic equipment from 2019 to 2021, we assume that the next four years will continue to maintain stable and rapid growth, and predict that the market size of ultrasonic imaging diagnostic equipment in China will reach 16.695 billion yuan in 2025.

Figure 1. Market size of ultrasonic imaging diagnostic equipment in China from 2019 to 2025E

04

Market pattern

It is estimated that CR4 in the field of ultrasonic imaging diagnostic equipment in China in 2021 was 74.37%, of which Mindray Medical ranked second only to GE. With the acceleration of domestic substitution for imports, the share of domestic brands will increase year by year, and the market pattern in the field of ultrasonic imaging diagnostic equipment in China will usher in new changes.

Figure 2. Market share of ultrasonic imaging diagnostic equipment in China in 2021

China is encouraging China end uses for more domestic products in latest years. Thus, more and more overseas manufacturers are planning localization in China. BradyKnows localization team has extensive experiences in facility establishment, audit, supplier evaluation, manufacturing, registration, and marketing in China. Pls feel free to let us know any questions on China entry via info@bradyknowsmedical.com

Source：Joinchain Medical Device

Translated & edited ： Bradyknows