Positive Factors in the Development of Chinese Medical Device Industry

The medical treatment is one of the three major livelihood topics. As an important support point of the medical system, the medical device industry has received more and more attention. When the concept of urbanization is gradually taken seriously, the medical device industry market deeply develops, products such as medical forceps, medical cannulas, needle holders, medical suture scissors are continuously iterated and updated.

At present, the size of Chinese medical device market has exceeded 100 billion yuan, with an average annual growth rate of about 23%. However, it should be noted that compared with the global medical equipment accounting for 42% of the total pharmaceutical market, Chinese medical device market share is still relatively low at only 14%.

Pharmaceutical industry analysts pointed out, with the continuous acceleration of the pace of urbanization, it will bring an increase of 200 billion yuan in demand for medical services such as muscle forceps, corneal cannula, etc., and bring about an increase of about 250 billion yuan in state-led medical service supply. Driven by many positive factors, the medical device industry may achieve rapid development.

From the perspective of favorable policies, after the release of the “Twelfth Five-Year Plan for the Medical Device Technology Industry”, the “Healthy China 2020 Strategic Research Report” was released along with it. It mentioned that in the next 8 years, there will be seven major special projects involving up to 400 billion yuan in the medical system, which has inspired investors who are concerned about the medical device industry.

 

The previous medical reform and the urbanization that has been focused on are complementary to each other. Because the process of urbanization naturally involves the construction and upgrading of the medical system, it is reasonable for the medical device industry to benefit from it. Nowadays, various medical device manufacturers at home and abroad are closely watching the market built of county hospitals.

From a trend point of view, the aging trend has ensured the continuous expansion of the market for some specific medical devices such as oxygen supply machines, blood glucose meters, etc. The second is medical reform, as mentioned in the State Council’s "Twelfth Five-Year" medical reform plan, in 2015, the number of beds and service volume of non-public medical institutions should reach 20% of the total number of medical institutions. In the context of increasing medical security, the additional purchase of medical devices by private medical care will also promote the development of the industry. The third is the new GMP plan. For example, the new GMP has high requirements for sterile preparation companies. Now most high-end medical devices are imported from abroad, and with the technology upgrading gradually , the high-end medical devices produced in China has gradually possessed alternative strength.

According to the "2013-2017 China Electronic Medical Device Industry Analysis and Research Report", if we take "urbanization" and "medical reform" as opportunities. In addition, the medical device industry also has another two major opportunities, that are import substitution and upgrading.

 

Belle Healthcare firmly grasps the current positive factors and is developing rapidly in the medical device industry. Our products are unanimously recognized by hospitals and medical institutions. If you also need medical device products, please contact us, we can provide you with nasal cannula, forceps medical instruments, disposable needle holders, high flow nasal prongs, etc.