The scale of China's medical device industry increased from 53.5 billion yuan in 2007 to 370 billion yuan in 2016, with an annual compound growth rate of about 23.97%, which greatly exceeded the average growth rate of the global medical device market.
According to the analysis of the medical device industry, the global medical device market as a whole is growing steadily. The market size is expected to increase from about 371 billion US dollars in 2015 to about 530 billion US dollars in 2022, with an average compound annual growth rate of about 5.23%. As far as the distribution of the global medical device market is concerned, the medical device industry in developed countries and regions such as Europe and the United States started early, the income level and living standard of residents were relatively high, the quality and service requirements of medical device products were high, the market scale was huge, and the demand growth was stable.
The medical device industry is an important part of China's national economy. With the increase of disposable income per capita, the acceleration of urbanization, the acceleration of the trend of population aging, the enhancement of residents'health awareness and the adjustment of the market structure of medical devices, the market demand of medical devices in China continues to grow. The government has steadily increased investment in medical and health care, continuously improved the basic medical security system and the supervision system of the medical device industry, promoted the healthy development of the medical device industry, and expanded the scale of the medical device market.
Through the analysis of the development trend of medical equipment industry, with the remarkable improvement of people's living standards and the increasing trend of urban population aging, the demand of medical market in China has maintained a sustained growth trend in recent years. At the same time, with the high incidence of chronic diseases such as digestive tract, respiratory tract and cancer, residents'demand for medical services has increased significantly. These changes have led to the increasing social health expenditure and the average number of visits from residents to medical and health institutions in China in recent years, which has promoted the rapid growth of the scale of the industry.
With the development of our country's economic strength and medical device industry, more and more attention has been paid to it. The government's policy support has promoted the improvement of the level of independent research and development of our medical device industry. At the same time, it has fostered a number of excellent national enterprises with independent intellectual property rights and core competitiveness.
Although there is still a certain technological gap between domestic medical device manufacturers and foreign famous enterprises, the gap is gradually narrowing. Compared with foreign enterprises, domestic enterprises have obvious advantages in production cost and relatively low product pricing. With the technology gap narrowing gradually, domestic medical devices are accelerating to replace the market share of imported medical devices, and gradually penetrate into the high-end market.
Through the analysis of the development trend of the medical device industry, with the support of the national policy for the domestic medical device industry, the continuous improvement of the enterprise's independent innovation consciousness and the continuous improvement of the technology level, the domestic medical device market has developed rapidly, and a number of leading enterprises of products and services have emerged. The new policies and opportunities have promoted the pursuit of quality of domestic medical brands, which is conducive to the development of innovative, large-scale and internationalized enterprises. At the same time, China's medical device market has tremendous room for growth.
2019 is a milestone in the development of domestic medical devices. As an imported brand monopolized by GPS for a long time, the domestic brand has reached an unprecedented market share. On the one hand, thanks to the investment of domestic brands in product research and development in recent years, some domestic medical device brands have surpassed the imported equipment of the same type in product performance and after-sales service; on the other hand, the voice of the whole society for supporting the development of domestic medical devices has been rising, and the support of national policies has given national products. The cards are very helpful. These are all the contents of the development trend analysis of the medical device industry.
