Sorting out the development of Chinese medical equipment

I. Market scale

According to EvaluateMedtech, the market size of Chinese medical equipment has been growing rapidly in recent years, the market size increased from 370 billion yuan in 2016 to 765.5 billion yuan in 2020, with an average annual compound growth rate of 19.9%. It is estimated that the market size of Chinese medical equipment will reach 125.29 billion yuan in 2022.

With the increasing medical demand caused by the aging population, the improvement of the national medical system and the enhancement of people’s ability to pay, it is expected that the medical equipment market will maintain a growth rate of more than 15% in the next 5-10 years. The medical equipment with a market scale of more than 5 billion yuan includes endoscope, MRI, CT and ultrasound equipment, etc. In household medical equipment, sphygmomanometer and blood glucose meter are the key varieties.

 II. Enterprise layout

The scale expansion of leading enterprises shows the characteristics of regional concentration with industrial basis and has not yet shown the trend of large-scale national layout. From the perspective of growth, the leading enterprises in the field of medical equipment need to undergo a long time of technological precipitation, and they are obviously private, mainly distributed in Shenzhen and Zhuhai of Guangdong Province. From the perspective of expansion layout, the enterprise investment layout is concentrated in Beijing, Shanghai, Suzhou, Nanjing, Chengdu, Wuhan and other regions with talent cluster and industrial base.

III. Development tendency

With the development of medical equipment in the direction of intelligence and miniaturization, home medical equipment has a large market opportunity and a wide sales network, making it relatively easy to enter the layout. Home medical devices have a huge market potential, and home medical devices such as electronic sphygmomanometer, low-frequency therapy instrument, blood glucose meter, electronic thermometer and other medical devices belong to the second class of medical devices. Most of the home medical devices can be sold directly through e-commerce platforms, supermarkets, drugstores, exclusive stores, TV direct sales and other general commercial channels, with a wide sales network. With the rapid growth of aging and chronic diseases, in the future, future blood glucose meter and ventilator are the most potential varieties, the company’s oxygen machine, electronic sphygmomanometer, atomizer and other core large varieties also maintain rapid growth.

The perfect combination of cloud computing, the Internet and other high technologies with home medical equipment will gradually make home medical equipment products electronic, digital, miniaturized and intelligent, and the use of the products will be easier for ordinary consumers to grasp.

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

By www.Yaozh.com

Translated & edited  | Bradyknows