The Chinese medical device industry has always been a fast-moving sector and is now ranked as the second largest healthcare market in the world. The reason for the fast growth is because the increasing health expenditure in medical device, pharmaceutical,hospital and health-care insurance. Besides, many domesitic players jump into the market and the dominant players are quickly transforming the existing technology and innovating new products.
Due to Covid-19, China is in a period of rapid development of medical device products aiming to catch up with the foregin brand. At the same time, new products and new treatment technologies are constantly being introduced to the market which drive the rapid development of the medical device industry, especially the rapid growth of leading companies in each sector.
In recent years, China has entered into a development period of product and technology upgrades, such as the biodegradable stent launched by Lepu Medical, the IVD pipeline launched by Antu Biotech and Mindray Medical, and the endoscopy produced and sold by Nanwei Medical. The high-end color ultrasound products produced by Mindray Medical and Kaili Medical, and the large-scale imaging equipment of United Imaging Medical have the ability to adjust the imported mid- and high-end products in their fields, thus forming an intermediate force in the innovation and upgrading of China’s medical equipment. .
In 2019, Chinese medical device listed companies has a large revenue gap. The top 20 listed companies which has the highest revenue is Mindray Medical, with revenue reaching 16.556 billion, and the lowest value company is Zhende Medical, with revenue around 1.865 billion yuan. The revenue growth rate of the The Top20 listed companies’ revenue year-on-year is generally at a relatively high level. The Top 20 listed companies in revenue are mainly distributed in Shandong, Guangdong and Zhejiang.
China’s ageing population is growing faster than almost any other countries in the world. With rapidly ageing population, the increasing penetration rate in the disposable consumables have jointly promoted the rapid development of the medical device disposable market.
Cancer and cardiovascular diseases rate continue to rise and the application of contrast enhanced scanning in the clinic continues to grow, which increases in the use of high-pressure radiography consumables. The scanning grwoth rate is estimated reaching to 194 million in 2022 compared with 63 million in 2015.
Accurate diagnosis requires higher imaging clarity and accuracy of imaging technology.
Another policy for medical device indust ry is acorrding to Article 35 of the “Regulations on the Supervision and Administration of Medical Devices”. It stipulates that single-use medical devices shall not be used repeatedly. Used medical disposables should be destroyed and recorded in accordance with regulations.The ban on disposable consumables effectively restrains some hospitals from reusing high-pressure radiography consumables to save costs.This in turn drives the demand for high-pressure imaging consumables
Based on the above trends, the medical device industry is under great transformation. The annual compound growth rate is about 28% . Antmed is the leading high pressure syringe manufacture in China and we are heavily investing in R&D process. We are hoping to make contribution to the Chinese medical industry and maintain our industry leader position.
Post time: Feb-26-2021