China Medical Devices Market Introduction and Overview
According to SPER Market Research, the China Medical Devices Market is estimated to reach USD XX billion by 2033 with a CAGR of XX%.
The report includes an in-depth analysis of the China Medical Devices Market, including market size and trends, product mix, applications, and supplier analysis. An apparatus, machine, tool, implant, in vitro reagent, or anything similar used to identify, stop, mitigate, treat, or cure illness is referred to as a medical device. Medical devices, as opposed to medicines or biologics, accomplish their objectives by means of structural, mechanical, or physical activity as opposed to chemical or metabolic action on or within the body. A wide range of tools, apparatus, software, calibrators, in-vitro diagnostic reagents, instruments, and consumables are referred to as medical devices. These tools are used to detect, measure, restore, rectify, or modify the body's structure or function for medical purposes. One of the following four categories usually describes the device's purpose: prevention, diagnostic, treatment, or rehabilitation.
- In 2020: China included a long list of new products under the heading "medical device industry" in 2020. These products included the production of artificial intelligence (AI)-enabled medical aids, high-end surgical and radiotherapy equipment, rehabilitation equipment, wearable intelligent health equipment, mobile and telemedicine equipment, etc.
- An analogue watch that can record an individual's heartbeat electrical signals in order to identify atrial fibrillation or an arrhythmic heartbeat—potential indicators of more serious health conditions that can be sent straight to a doctor for additional guidance—was recently released by Withings, a French consumer electronics company with an online presence in China.
- Similarly, Fitbit and Medtronics have joined up to provide diabetic patients integrated health and activity tracking. The goal of the smartphone app is to help patients manage their blood sugar levels and support their doctors' decisions by tracking and gathering data on the patient's blood sugar levels.
Market Opportunities and Challenges
Opportunities in the hospital and homecare sectors suggest that the Chinese medical equipment market has a bright future. Growing healthcare spending, technology advancement, an ageing population, and chronic illnesses are the main factors propelling the market. The increased frequency of chronic diseases and the ease with which regulatory bodies can approve medical technology companies' gadgets are likely to drive research and development spending by these companies, which in turn will fuel the expansion of the medical devices market in the years to come. The pharmaceutical, biopharmaceutical, and medical device industries' rising R&D expenditures are also contributing to the medical devices industry's growth over the projection period. As a result, there are a lot of considerable opportunities in the market, especially in light of the recent steps the Chinese government has put in place to encourage long-term development and innovation in healthcare delivery.
The last decade have seen significant advancements in the medical device sector, including the introduction of new technology and changes to existing designs. But because of their high price, which comes with a relatively high acquisition cost as well as ongoing maintenance charges, owning and operating these gadgets becomes more expensive overall. Certain sophisticated gadgets have multiple parts that need to be replaced on a regular basis, including semiconductors, batteries, sensors, and other accessories. As a result, hospitals and surgical centres have a relatively higher cost of ownership. Furthermore, the adoption of medical gadgets in developing nations has been impeded by the issue of reimbursement. Therefore, the relatively low adoption of medical devices in emerging nations has been attributed to the aforementioned reasons as well as insufficient reimbursement schemes.
Market Competitive Landscape
The major players in the China Medical Devices market include: BGI Group, Blue Sail Medical, GE Healthcare, Intco Medical, Johnson & Johnson, Lepu Medical, Medtronic, MicroPort, Philips Healthcare, Siemens, Others. Companies are currently competing to discover novel methods to use data in a way that best meets customer needs in order to obtain a competitive edge. Many medical device businesses have partnered with other players in order to expeditiously improve their technological skills and provide intelligent goods to their portfolio.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Type, By Function, By End-Use
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| Regions covered | Eastern Region, Northern Region, Southern Region, Western Region
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| Companies Covered | BGI Group, Blue Sail Medical, GE Healthcare, Intco Medical, Johnson & Johnson, Lepu Medical, Medtronic, MicroPort, Philips Healthcare, Siemens, Others
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COVID-19 Impact on China Medical Devices Market
The medical device sector is already experiencing a technological transition, but COVID-19 has hastened it. The pandemic has led to an unparalleled focus on public health, which has resulted in a boom in consumer demand for long-term and preventative patient care tools and gadgets. Additionally, there is now more data available to optimise the quality of diagnosis, treatment, and prevention of bad health problems because of the massive volumes of information collected and new digital habits created throughout the COVID-19 control and preventive period. Because of this, there are several chances in the industry to move from traditional product offerings to a more service-driven business model. These opportunities are further made possible by the new uses of future technologies like 5G, the Internet of Things, Artificial Intelligence and data analytics software.
Key Target Audience:
- Diagnostic Centers
- Distributors and Retailers
- Hospitals and Clinics
- Insurance Companies
- Medical Researchers and Scientists
- Nurses and Allied Healthcare Professionals
- Patients
- Physicians and Surgeons
- Others
Our in-depth analysis of the China Medical Devices Market includes the following segments:
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By Type:
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Cardiovascular Devices
General Medical Devices
Home Healthcare Devices
Orthopedic Devices
Surgical and Infection Control Devices
Other Devices
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By Function:
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Diagnostic and Monitoring
Surgical
Therapeutic
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By End-Use:
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Homecare Medical Device
Hospital and Ambulatory Care Medical Device
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Key Topics Covered in the Report:
- China Medical Devices Market Size (FY’2023-FY’2033)
- Overview of China Medical Devices Market
- Segmentation of China Medical Devices Market By Type (Cardiovascular Devices, General Medical Devices, Home Healthcare Devices, Orthopedic Devices, Surgical and Infection Control Devices, Other Devices)
- Segmentation of China Medical Devices Market By Function (Diagnostic and Monitoring, Surgical, Therapeutic)
- Segmentation of China Medical Devices Market By End-Use (Homecare Medical Device, Hospital and Ambulatory Care Medical Device)
- Statistical Snap of China Medical Devices Market
- Expansion Analysis of China Medical Devices Market
- Problems and Obstacles in China Medical Devices Market
- Competitive Landscape in the China Medical Devices Market
- Impact of COVID-19 and Demonetization on China Medical Devices Market
- Details on Current Investment in China Medical Devices Market
- Competitive Analysis of China Medical Devices Market
- Prominent Players in the China Medical Devices Market
- SWOT Analysis of China Medical Devices Market
- China Medical Devices Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the China Medical Devices Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. China Medical Devices Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in China Medical Devices Market
7. China Medical Devices Market, By Type (USD Million)
7.1. China Medical Devices Market Value Share and Forecast, By Type, 2023-2033
7.2. Cardiovascular Devices
7.3. General Medical Devices
7.4. Home Healthcare Devices
7.5. Orthopedic Devices
7.6. Surgical and Infection Control Devices
7.7. Other Devices
8. China Medical Devices Market, By Function (USD Million)
8.1. China Medical Devices Market Value Share and Forecast, By Function, 2023-
8.2. Diagnostic and Monitoring
8.3. Surgical
8.4. Therapeutic
9. China Medical Devices Market, By End-Use (USD Million)
9.1. China Medical Devices Market Value Share and Forecast, By End-Use, 2023-2033
9.2. Homecare Medical Device
9.3. Hospital and Ambulatory Care Medical Device
10. China Medical Devices Market Forecast, 2019-2033 (USD Million)
10.1. China Medical Devices Market Size and Market Share
11. China Medical Devices Market, By Type, 2019-2033 (USD Million)
11.1. China Medical Devices Market Size and Market Share By Type (2019-2026)
11.2. China Medical Devices Market Size and Market Share By Type (2027-2033)
12. China Medical Devices Market, By Function, 2019-2033 (USD Million)
12.1. China Medical Devices Market Size and Market Share By Function (2019-2026)
12.2. China Medical Devices Market Size and Market Share By Function (2027-2033)
13. China Medical Devices Market, By End-Use, 2019-2033 (USD Million)
13.1. China Medical Devices Market Size and Market Share By End-Use (2019-2026)
13.2. China Medical Devices Market Size and Market Share By End-Use (2027-2033)
14. China Medical Devices Market, By Region, 2019-2033 (USD Million)
14.1. China Medical Devices Market Size and Market Share By Region (2019-2026)
14.2. China Medical Devices Market Size and Market Share By Region (2027-2033)
14.3. Eastern Region
14.4. Northern Region
14.5. Southern Region
14.6. Western Region
15. Company Profile
15.1. BGI Group
15.1.1. Company details
15.1.2. Financial outlook
15.1.3. Product summary
15.1.4. Recent developments
15.2. Blue Sail Medical
15.2.1. Company details
15.2.2. Financial outlook
15.2.3. Product summary
15.2.4. Recent developments
15.3. GE Healthcare
15.3.1. Company details
15.3.2. Financial outlook
15.3.3. Product summary
15.3.4. Recent developments
15.4. Intco Medical
15.4.1. Company details
15.4.2. Financial outlook
15.4.3. Product summary
15.4.4. Recent developments
15.5. Johnson & Johnson
15.5.1. Company details
15.5.2. Financial outlook
15.5.3. Product summary
15.5.4. Recent developments
15.6. Lepu Medical
15.6.1. Company details
15.6.2. Financial outlook
15.6.3. Product summary
15.6.4. Recent developments
15.7. Medtronic
15.7.1. Company details
15.7.2. Financial outlook
15.7.3. Product summary
15.7.4. Recent developments
15.8. MicroPort
15.8.1. Company details
15.8.2. Financial outlook
15.8.3. Product summary
15.8.4. Recent developments
15.9. Philips Healthcare
15.9.1. Company details
15.9.2. Financial outlook
15.9.3. Product summary
15.9.4. Recent developments
15.10. Siemens
15.10.1. Company details
15.10.2. Financial outlook
15.10.3. Product summary
15.10.4. Recent developments
15.11. Others
16. List of Abbreviations
17. Reference Links
18. Conclusion
19. Research Scope