China Medical Device Market

China Medical Device Market is expected to grow at significant CAGR during the forecast period due to the increasing amount of prevalence of chronic disorders such as diabetes, cancer, and other infectious diseases.

China Medical Device Market Overview

A medical device refers to an instrument or machine required for treatment, cure, prevention, or diagnosis of different kinds of disease. The essential purpose of the medical device is to help the healthcare professional in improving diagnose patients, for helping patients overcome sickness or diseases, or improve the patient quality of life.

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Major China Medical Device Market Drivers

The factors driving the China Medical Device market include the increasing amount of prevalence of chronic disorders such as diabetes, cancer, and other infectious diseases owing to the adoption of inactive lifestyle and other factors. For instance, in 2019, an estimated 116 million adults in China were living with diabetes. In addition, healthcare agencies are focusing on increasing the diagnosis and treatment rate through the growing number of awareness programme. Furthermore, according to Govt of China in 2021, total expenditure on public health rising 15.2% from earlier year to 1.9 trillion Yuan.

According to China’s National Health Commission China has 4,975,633 public hospital beds and 1,890,913 private hospital beds, representing increases of 16% and 83%, respectively, since 2015 which is fuelling the growing demand for medical device market. There has been a lot of research and development in the healthcare industry for advanced and easy-to-use medical equipment for the treatment of a chronic disorder. The efforts by healthcare agencies to shift patients towards homecare settings and market players are actively investing in the introduction of portable and wearable devices that patients can easily use at home without the need for professional assistance. For example, Yu Yue medical company brings professional health management concept and advanced product solution into daily life such as blood glucose meter, oxygen concentrator, among others.

Restraint in the China Medical Device Market

However, some of the advanced devices are associated with various other components such as batteries, chips, sensor, and other accessories, which requires periodic replacement, and this device requires high-cost maintenance and installation, which lead to high cost during the treatment of the patients.

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Type Of Device – Segment Analysis

Based on the type of Device, In-Vitro Diagnostics Equipment is expected to grow at a higher CAGR rate in the China Medical Device market during the forecast period owing to increasing uptake of real-time diagnostics for precise diagnosis of chronic and infectious diseases such as diabetes, cancer, HIV/AIDS and others. In-Vitro Diagnostics are test done on sample such as blood or tissue that have been taken from human body and can detect disease or other conditions and to monitor and prevent from disease. In 2020, according to WHO, in China 125,620 Covid-19 cases were recorded. In addition, the increasing number of Covid -19 pandemics will lead to a high requirement of the test, which will boost the In-Vitro Diagnostics device.

End-User – Segment Analysis

Based on the End-User, Hospital and clinics segment dominates the China Medical Devices Market due to increasing number of multispecialty and community hospital. For instance, according to World Health organization in China they have hospital beds (per 1000 people) was at level of 4.31 per 1000 people.  In addition, the growing emphasis of healthcare agencies and government towards a routine diagnosis of patients and their timely treatment have resulted in raising awareness among the population. For instance, in 2020, China built hospital in two days during Covid-19.

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Top Market Players

Various notable players operating in the market include Autobio Diagnostics, BGI Genomics, Shenzhen Mindray Bio-Medical Electronics Co Ltd, Shinva Medical Instrument Co Ltd, Yuyue, Lepu Medical Technology (Beijing)Co Ltd, Jafron Biomedical Co Ltd, Double Medical Technology Inc, Maccura Biotechnology Co, XIAMEN BOSON BIOTECH CO, among others. 

Key Developments:

• • In 2020, China National Medical Product Administration, approved BGI and its subsidiary MGI tech PCR kit.

Segments covered in the Report:

The China Medical Device market has been segmented on the basis of Type of Device, End-User. Based on Type of Device, the market is segmented into In-Vitro Diagnostics, Dental Equipment, Ophthalmic Devices, Diagnostic Equipment, Cardiovascular Devices, Surgical Equipment, Orthopedic Devices, Diabetes Care Devices, and others. Based on End-User, the market is segmented into Hospitals and Clinics, Homecare and Diagnostics Centres. 

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