This overseas machinery company achieved a continuous increase in market share in China
According to calculations by Zhongcheng Digital, the market size of soft endoscopes in China is expected to reach nearly 3 billion yuan in the first half of 2024.
Among them, gastrointestinal endoscopy accounts for 80% of the overall soft endoscope market size, ranking first. Bronchoscopy and nasopharyngoscopy rank second and third respectively.
Proportion of market size in the segmented field of soft endoscopes in the first half of 2024
Olympus, as the absolute leader of global endoscopic brands, has consistently held the top spot in China’s soft endoscope market. In recent years, due to the relevant policies on domestic procurement of endoscopes and the continuous registration of domestic endoscope products, the development of domestic brands such as Sonoscape and Aohua has been extremely rapid.
As a leading enterprise in the same industry, Fuji has Olympus leading the way and domestic brands catching up, the pressure of competition can be seen. However, according to Zhongcheng Digital’s calculation, from 2019 to the first half of 2024, Fuji’s market share of soft mirrors increased from 15.92% to 21.73%, an increase of 5.81%. how can Fuji stand firm leading position against the trend of upward movement?
01 Solidifying the market position of traditional soft lenses
China has a heavy burden of digestive tract cancer and a large number of patients. According to the latest global cancer burden data released by the International Agency for Research on Cancer (IARC) of the World Health Organization in 2020, there were 4.57 million new cancer cases in China in 2020 (accounting for 23.7% of the global total, ranking first in the world in terms of the number of new cancer cases). From the perspective of structural proportion, compared with the global average data, the incidence rate of digestive tract cancer in China is higher. The incidence of colorectal cancer (12% vs 10%), gastric cancer (10% vs 6%) and esophageal cancer (7% vs 3%) are all higher than the global level. In 2020, the total number of new cases of three types of cancer reached 1.36 million, accounting for nearly 30% of all new cases of cancer (the global average is 19%).
Not only that, the death rate of digestive system tumors is high in China, and the structural contradiction of high incidence rate and mortality of digestive tract cancer is prominent. Therefore, early diagnosis and treatment of digestive system tumors urgently need to be widely promoted.
From the perspective of changes in the market competition pattern, Fuji’s market share has increased from 20.96% to 25.05%, an increase of 4.09%, indicating an increase in market recognition.
From the perspective of changes in the market competition landscape, Olympus’ market share increased from 21.97% in the first half of 2023 to 36.40%, an increase of 14.43%; And Fuji’s market share increased from 4.01% to 18.95%, an increase of 14.94%, and its market share has quadrupled.
02 Seizeing the market share of endoscopic ultrasound
According to the calculation of Yizhuagnshusheng, there has been a huge change in the market pattern of endoscopic ultrasound in China from 2019 to the first half of 2024, and Fuji has gradually taken the leading position in the endoscopic ultrasound market with its profound ultrasound technology.
According to Yizhuagnsheng’s data, in the subdivision field of ultrasound gastrointestinal endoscopy, the proportion of domestic ultrasound gastrointestinal endoscopy in the entire gastrointestinal endoscopy remained almost unchanged from 2019 to the first half of 2024. Fuji ultrasound digestive endoscope ranked first in market share, while Olympus ranks second.
In the field of ultrasound bronchoscopy segmentation, Fuji’s market performance is particularly impressive.
According to Yizhuagnsheng’s calculation, in the first half of 2024, Fuji occupied the top spot in the domestic ultrasound bronchoscopy market, followed closely by Olympus.
From the perspective of domestic policy trends, the large-scale equipment update policy released by the government this year has expanded the market demand for endoscopes in medical institutions across the country, which is a significant benefit for domestic and foreign endoscope manufacturers.
At the same time, the country has begun to attach importance to the participation of foreign brands in this large-scale equipment update, pointing out the need to “treat equally” and support domestic and foreign enterprises to participate in large-scale equipment updates, government procurement, and investment.
With the release and implementation of a series of policies related to endoscopes, there will inevitably be a surge in hospital procurement of endoscopes. Faced with the increasing demand for early screening of digestive and bronchial diseases caused by the aging population in China, soft endoscopes will play a huge role in clinical practice, and the market size is expected to further increase.
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
Translated & edited： Bradyknow
