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Medical device industry development history

- Jan 16, 2018 -

The revolution in technology and medical demand have led to the rapid growth of the global medical device industry. The global medical device market is growing rapidly. Leading US medical device companies dominate the market with technological revolution and product innovation, accelerating growth through M & A and increasing barriers to entry. The four major R & D directions of the leading US enterprises at this stage are: upgrading of similar products, increasing of high value-added product lines, development of high-tech innovative products, and localized research and development of middle and low-end markets. US medical device companies have the same product resources integration, broaden the product line, the development of the global market, the three major mergers and acquisitions trends.

 Consumption Structure Adjustment to Promote the Rapid Growth of Medical Device Market in China. China's medical device market over the past decade has always been faster than the pharmaceutical market growth; even so, China's medical device industry is still in the "nascent" stage. At present, the market size of medical devices in our country occupies 14% of the total market size of pharmaceuticals. Compared with the 42% of the total global market for medical devices, there is huge room for growth in the adjustment of consumption structure. It is estimated that in the future, Will continue to outperform the pharmaceutical industry. In the short to medium term, under the new medical reform policy, the state will step up its efforts to establish a grassroots medical service system. "Filling the gap" and "upgrading" will promote the rapid growth of the low-end medical device market. The upgrading of consumption, population aging and technological revolution are the endogenous motivations for promoting long-term rapid growth of China's medical device market.

 China's rapid rise of medical device companies, from import substitution to industry consolidation. With the progress of technology, China's medical device enterprises have gradually realized import substitution and have made breakthroughs from the low-end market to the high-end market. At the same time all countries to reduce health care costs in the context of China's medical equipment business exports will face unprecedented opportunities for development. The medical device industry involves multidisciplinary and cross-cutting technologies. The industry is characterized by large, small, scattered and large spans. Industry concentration and industry consolidation are the trend of the times. In the short term, local Chinese enterprises with outstanding genes will stand out.

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