Market Estimates丨China CT Equipment Market Size Estimation Report (2023)
01
Product brief introduction
- Product classification
According to “2017 Medical Device Classification Catalogue” of China Food and Drug Administration, CT equipment belongs to the sixth category of medical imaging devices, and the management category is Ⅲ.
On the track, CT equipment belongs to medical equipment – diagnostic equipment – medical imaging equipment – X-ray computer tomography equipment（CT）。
- Application fields
CT examination has high diagnostic value for central nervous system diseases and is widely used. The diagnosis of intracranial tumor, abscess and granuloma, parasitic disease, traumatic hematoma and brain injury, brain infarction and cerebral hemorrhage, intraspinal tumor and disc prolapse and other diseases is good, reliable diagnosis, in addition to the head and neck diseases, chest diseases, cardiovascular diseases, abdominal and pelvic diseases and other diseases have high diagnostic value.
02
Development driver
- Policy factor
Since the 14th Five-Year Plan, the National Health Commission has repeatedly issued relevant policies and regulations to vigorously support the development of CT and other high-end medical equipment. In May 2021, the Ministry of Finance and the Ministry of Industry and Information Technology explicitly required that all 137 kinds of equipment, including CT equipment, be purchased domestically.
2. Social and economic factors
With the development of the epidemic in the past two years, the disadvantage of insufficient medical resources has gradually emerged. On November 3, 2021, the National Health Commission issued the Comprehensive capacity improvement plan of county hospitals in the “Thousand County Project”, clearly promoting the sinking of provincial and municipal quality medical resources to the county level, and gradually realizing the integration and sharing of medical resources within the county level.
In recent years, most hospitals in China have been losing money, many private hospitals have closed down, and the public government has to compensate and control the cost (hiring cost). Hospitals are not willing to purchase large medical equipment. On September 7, 2022, the Standing Meeting of The State Council decided to provide periodic financial discount for equipment renovation loans in some fields, and increase credit support for social services. The total loans involved are about 1.7 trillion yuan, among which experts estimate that about 200 billion yuan can be allocated to medical equipment. The loan discount has properly reduced the equipment procurement costs of hospitals. And the upgrading of medical equipment is expected to be mainly large class B medical equipment, among which the CT equipment replacement demand is quite strong.
03
Market scale
1. Calculation logic
List of enterprises determined: China’s CT equipment field has a relatively high market concentration. Major participants screened through MDCLOUD are: General Electric, Siemens, Philips, United Imaging Medical, Neusoft Medical and other enterprises.
Dismantling enterprise revenue： Disassemble the revenue of listed companies through public data. Take General Electric as an example, through disassembling the revenue: get the proportion of Healthcare business in China; Based on the analysis of the proportion of CT equipment in all GE products based on the MDCLOUD, the revenue of CT equipment of GE in China was finally obtained.
Integrated calculation results: After disassembling the revenue of all enterprises, MDCLOUD bidding data was used to analyze the market concentration and the proportion of each enterprise in this field, and the market size of CT equipment was obtained by synthesizing the above results.
2.Data basis
（1） Bidding data
The data range is the open bid-winning data of various medical institutions, scientific research institutions, testing institutions, universities and other institutions from 2019 to 2021; The data includes bid-winning time, bid-winning quantity, bid-winning price, bid-winning brand, bid-winning model, bid-winning unit, etc.
(2) Report of listed enterprises
It mainly includes the listing quarterly report, annual report, prospectus and other materials of major enterprises in this field.
- Market size forecast
By calculating the market size of CT equipment from 2019 to 2021, we assume that it will continue to maintain stable and rapid growth in the next four years, and forecast that the market size of CT equipment in 2025 will reach 21.625 billion yuan.
Figure 1 Market size of CT equipment in China from 2019 to 2025E
Data Source：MDCLOUD
04
Market Pattern
According to calculation CR4 in China’s CT equipment field in 2021 was 84.2%, among which United Imaging Medical ranked second only to General Electric, and Neusoft Medical ranked the top five. With the acceleration of domestic substitution for imports, the share of domestic brands increases year by year, and the market pattern of China’s CT equipment field will usher in new changes.
Figure 2 Market share of CT equipment in China in 2021
Data Source：MDCLOUD
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Source：Joinchain Medical Device
Translated & edited ： Bradyknows
