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(I) Overview of the global medical device market
1. The global medical device market continues to grow, with the United States and Europe occupying a major share
In terms of the distribution of the global medical device market, the medical device industry in developed countries and regions such as Europe and the United States has started early. The income and living standards of residents are relatively high. The quality and service of medical device products are relatively high. Growth is stable.
The global medical device market size has exceeded the US $ 400 billion mark in 2017, and the global medical device market size was US $ 427.8 billion in 2018. It is expected that the size of the global medical device market in 2019 will reach US $ 450 billion.
2. The IVD field is the industry with the highest sales in the world
From the perspective of each segment of the medical device industry, IVD is the segment with the highest sales in the medical device industry. In 2017, it achieved sales of 52.6 billion US dollars; followed by the cardiovascular industry, sales of 46.9 billion US dollars; imaging The device achieved sales of 39.5 billion US dollars, ranking third.
(II) Overview of China's Medical Device Market
1.In 2018, China's medical device market exceeded 500 billion yuan, a growth rate far exceeding the global level
With the increase of national disposable income, the increase in medical demand brought by the aging population, and the increase in the coverage and depth of medical insurance, China's demand for medical devices will continue to increase. At the same time, on the policy side, it encourages medical device innovation and technological upgrades, opens up green channels for domestic innovative medical devices, promotes import substitution, and is expected to break the monopoly of foreign products in many fields. In general, the demand side and policy side jointly promote the rapid development of the domestic medical device market.
From 2014 to 2018, China's medical device market maintained rapid growth. In 2014, the market size of China's medical device industry was 255.6 billion yuan. As of the end of 2018, the market size of China's medical device industry reached 530 billion yuan. It is estimated that the market size of China's medical device industry will exceed 900 billion yuan by 2022.
2. Compared with the global level, IVD and high-value consumables have huge development space
From the perspective of medical device segmentation, China has the largest proportion of low-end medical equipment, and high-value consumables and IVD in China account for only 20% and 11%. Compared with the global gap, there is a relatively large gap and there is a lot of room for development. .
3. China's leading medical device companies have begun to take shape, but have huge development space compared to international leaders
Of the 35 domestic medical devices, 17 had main revenues of over 1 billion in the first half of 2018, of which Mindray Medical ranked first with 13.753 billion yuan, a year-on-year increase of 23.09%. It is worth noting that out of the 17 companies whose main revenue is over 1 billion, there are 8 listed in vitro diagnostic reagents listed machinery companies.
China's medical device listed TOP10 companies in 2018 had a total revenue of 46.262 billion yuan, far less than the revenue of one Medtronic company in 2017 (29.7 billion US dollars). In general, there is a large gap between China's leading companies and international leaders, and there is huge room for future development.
4. Significant development of agglomeration of China's medical device industry
With the development of China's medical device industry, several medical device industry agglomeration areas and manufacturing development belts have formed in the country. The Pearl River Delta, the Yangtze River Delta, the Beijing-Tianjin-Bohai Rim, and Central China have become China's four major medical device industry agglomeration areas.
According to incomplete statistics, the sum of the total output value and sales of medical devices in the four regions accounted for more than 80% of the national total. Because of the different conditions, the four industrial clusters have obvious regional characteristics.
(III) summary
With the improvement of residents' living standards and the enhancement of medical care awareness, the demand for medical device products continues to grow. The size of the global medical device market has steadily increased, and is expected to reach 450 billion US dollars in 2019.
With the increase in disposable income of Chinese residents, the increase in medical demand caused by the aging population, and the increase in the coverage and depth of medical insurance, China's demand for medical devices is stronger than in the world. Generally speaking, China has already issued a foundation for regional industries and leading enterprises. However, there is still room for development compared to the world in terms of technology level, industrial scale, and layout of key segments.
