If you face all those problem, just call us and we will give you a simple way to do it.
Contact Us For Free Sample !
What have been the trends and what are the prospects for the
medical device industry in China?
The medical device market continues to grow steadily as global health care costs continue
to rise, combined with an aging population and rising disposable income. The market demand
of Europe, America, Japan, and other developed countries is dominated by upgrading with a large
market scale and stable growth rate. In China and other emerging markets, the superimposed
penetration rate of upgrading demand is increasing, and the growth rate is higher than the global
average. According to Evalute MedTech, the global medical device market has grown from$352.9
billion to $433.7 billion in 2011-2018, with a CAGR of 3.0% and is expected to rise to $594.5 billion
in 2024, with a CAGR of 5.4%. In the long term, the industry will maintain steady growth.
China's medical device market has maintained rapid growth and has now become the second-largest
market in the world. According to the data of Blue Bood Of Medical Devices released by the China
Medical Supplies Association and China Society of Drug Administration, the market size of medical
devices in China has increased from 17.9 billion yuan in 2001 to 530.4 billion yuan in 2018, with a CAGR
of 22.1%. It is expected that the market size will reach nearly 1 trillion yuan in 2022, and the CAGR will
be about 17.1% in 2018-2022. China's medical device market will maintain rapid growth, and there is
still greater room for growth compared with the international market.
China had 26456 medical device manufacturers at the end of Auguest, up 40 percent year-on-year, offical
data showed. To cope with the raging COVID-19 epidemic, Chinese authorities accelerated the approval
of medical devices, according to the National Medical Products Administration. In a bid to encourage
innovation and enhance industrial competitiveness has made solid progress in promoting reforms in the
medical device registration system.
Hello, please leave your name and email here before chat online so that we won't miss your message and contact you smoothly.