Current Situation in the National Medical Devices Market
China is the biggest medical devices manufacturing and consumption country in the world, with over 40% accounting for the global consumption. It is estimated that in the next few years, the growth rate of global medical devices will keep more than 8%, continuously higher than 4%-7% of pharmaceutical market. In 2018 the global medical devices market is supposed to reach up to USD 440 billion.
1 Medical devices companies at home are mainly middle and small-sized enterprises, with low market concentration.
2 Inadequate investment in research and development and low technological levels in the industry.
Development trend in the next few years
Modern medicine has accelerated its development into the trend of early detection, precise and quantitative diagnosis, minimally invasive and noninvasive therapy, individualized diagnosis and treatment and intellectual service, which continually raises new requirements to innovative development in medical devices industry. It is estimated that, in the next 5 to 10 years, there will be a closer relationship between the medical devices industry at home and abroad, which will have a great impact on manufacturing process of medical devices, advanced material application, R&D level, marketing network, and promote the transformation of China medical devices from low-end products to high-end products with high added-value. Intervention instruments, implantable medical devices, and artificial organs are regarded as high added-value medical materials required by departments of orthopaedics and angiocarpy, and they will meet the opportunity of rapid growth. Medical devices industry is a sunrise industry in China. The high added-value industry will meet a new round of localization in case that the enterprises can grab chances in the linkage of future development trend of the medicine, national market environment, national market policies and their own development strategies under the push of policy implementation, and increased market demands.