Recently, CCID Consulting released the "China Medical Device Industry Development Strategy Research (2014)". The report shows that China's medical devices have a broad market space, and national policies, economic living standards and people's awareness of health care, population aging, product exports and product upgrading have all had a major impact on the development of the medical device industry.
Medical device industry development demand drivers
National policy promotes industrial development
The report pointed out that in recent years, China's emphasis on medical and health care has been continuously strengthened, and the investment in medical and health care has also increased. According to the "Health China 2020 Strategy Research Report", the major projects of the seven major medical systems involving a total amount of 400 billion yuan will be launched in the next 8 years. In the 400 billion yuan investment plan of the Ministry of Health, 109 billion yuan will be used for county hospital construction. It can be seen that there will be huge market space for medical devices in China in the next few years, including in primary care.
Economic development and health awareness drive demand
While people's living standards have improved, they also require corresponding improvements in health care. It is reported that medical devices are an important part of health care and an auxiliary device for disease diagnosis and treatment, so the demand for medical devices will also increase. In addition, people pay more attention to the prevention of diseases, and can quickly grasp the body indicators through sphygmomanometers, thermometers, blood glucose meters and other instruments, so that the disease can prevent early treatment.
Great export demand potential
According to the report, in recent years, domestic demand for medical devices has grown rapidly and exports have continued to grow. As China's medical device technology continues to improve, the cost advantage gradually emerges, so it can be more competitive under the same quality conditions, and promote sustained and rapid growth of exports.
According to the report data, in 2013, China's total medical equipment trade reached US$34.31 billion, an increase of 14.13% year-on-year, an increase of 1 percentage point over 2012. Among them, the export value was US$19.335 billion, a year-on-year increase of 9.92%, a decrease of 2 from 2012. The percentage of imports was 14.975 billion US dollars, an increase of 20.07% over the same period of last year, an increase of 5.5 percentage points over 2012; the trade surplus was 4.36 billion US dollars, down 14.8% year-on-year.
China's medical equipment and equipment import and export situation
Population aging to expand the market
The report revealed that the increase in population aging has led to a significant increase in the elderly population, and at the same time put forward higher requirements for elderly health care. Diseases related to the elderly, such as hypertension and diabetes, are seriously plaguing people's lives. While improving medical research and development, these medical devices related to these diseases should also be used together. At present, the number of patients with diabetes and hypertension in China exceeds 100 million and 300 million respectively. Even if an average person needs a corresponding blood glucose meter and sphygmomanometer, the market size is incalculable.
Outdated products generate updated demand
According to statistics, about 15% of the medical devices in China's primary health care institutions are products from around the 1920s, and about 60% are products before the mid-1980s. According to the report, product replacement will generate a large number of new medical devices, and this result will gradually emerge in the next five to ten years.
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