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China Medical Device Market to Slow Down

2017-12-1 | Read:573

China now is one of the largest medical device markets in the world with total sales volume of USD 48.5 billion in 2015,a CAGR of 22.3%from 2010 to 2015,according to the new report“China Medical Device Industry Yearbook-2016”presented by Shanghai-based China MedTech Marketing Inc.(CMTM).


It is no doubt that China medical device market will keep growing in the future,but what will be the growth rate and driving factors?


China medical device market is estimated to slow down to around growth rate of 15%in the next a few year,according to Owen Tang at CMTM.This estimation is based on our long-term tracking and analysis of policies&guidelines,healthcare resources&medical services,population&diseases,databases,as well as interviews with experienced industry experts in the different market segments,he added.


Policies&Guidelines


China governments,including both central government and local governments,are playing key roles in the medical device industry which covers 14,000 local medical device manufacturers and 186,000 dealers.In the recent years China governments have released a series of policies and guidelines to support the development of the medical device industry,covering medical device registration,manufacturing,distribution,recalls,as well as hospital procurement.


Medical device is one of the ten key sectors of Made in China 2025 which was released by the State Council in May 2015 with the aim of promoting manufacturing in China.Innovation and industrialization of medical device industry will be strongly supported,covering medical imaging equipment,medical robots,full-degradation cardiovascular stents,mobile health,as well as 3D printing.


Earlier in January 2012 China’s Ministry of Science and Technology released the 12th Five-Year Plan for Medical Device Development to support innovative medical device products especially medical imaging products.The panel discussion for the 13th Five Year Plan was held in Beijing this summer covering the topics of development segments,innovative technologies,key products,as well as policies.It is quite clear that local medical device products will be strongly supported in the next five years.