China's advancement in science and technology will promote industrial upgrading. On the other hand, China's huge population base and growing medical health demand are huge thrusts for market growth. In terms of per capita medical device costs, the per capita cost of medical devices in China is only $6, and the per capita income in major developed countries is above $100. These gaps mean growth space, and industry experts have predicted that the industry growth rate will remain above 10% annually in the next 10 years.

 

The next decade is a decade of rapid growth

With the desire to live a healthy life as the most fundamental driving force, medical technology research will always be the common cause of mankind, and the progress of the industry will never have a culmination. As an important branch, medical devices are still the fastest growing industry in the world today. Whether in China or globally, the technology and market of the medical device industry have shown a positive state and have maintained steady growth in recent years.

 

From a global perspective, medical devices have formed a highly concentrated market. Only the top 25 medical device companies account for nearly 60% of the world's total sales. The three regional markets of the United States, Europe, and Japan occupy the market. Absolute dominance. However, a very obvious trend today is that the rise of Asian countries is changing the world economic landscape, and medical devices are a typical field.

 

Medical devices are an industry closely related to the country's basic industrial development level. In the early days, due to various links in the industrial value chain and comprehensive economic strength, China's medical device manufacturing level was at a low level. The most products were low-value consumables with low technical content and low prices. In recent years, under the background of reform and opening up, the industry situation in the early years has been fundamentally improved. Today, China has become the most promising emerging medical device supermarket in the world. Economic development, population growth, population aging and policy support are driving the industry into a golden period of development.

 

On the one hand, China's advancement in science and technology will promote industrial upgrading, and more high value-added products will change the status quo of low-end products occupying the market. On the other hand, the volume determines the potential. China's huge population base and growing medical health demand are huge thrusts for market growth.

 

At present, the sales ratio of medical devices and drugs in China is about 0.25:1. In the developed countries, the ratio is about 1:1. In terms of per capita medical device costs, the per capita cost of medical devices in China is only $6, and the per capita income in major developed countries is above $100. These gaps mean growth space, and industry experts have predicted that the industry growth rate will remain above 10% annually in the next 10 years.