China Business Intelligence Network News: The medical device industry involves many industries such as medicine, machinery, electronics, plastics, etc., and is a multidisciplinary, knowledge-intensive, and capital-intensive high-tech industry. Affected by the rising prevalence of various diseases, the country attaches more and more importance to the development of the medical device industry, and has taken strong measures such as the "14th Five-Year Plan" for the development of the pharmaceutical industry and the "14th Five-Year Plan" for the development of the medical equipment industry.
1. Definition of medical devices
Medical devices refer to instruments, equipment, appliances, in vitro diagnostic reagents and calibrators, materials and other similar or related items that are directly or indirectly used on the human body. According to the specific use of medical devices, medical devices can be divided into four categories: high-value medical consumables, low-value medical consumables, medical equipment, and IVD (in vitro diagnosis).
Source**: Compiled by China Business Industry Research Institute.
Second, the development policy of the medical device industry
In recent years, China's medical device industry has been highly valued by the highest levels and the key support of national industrial policies. The state has successively issued a number of policies to encourage the development and innovation of the medical device industry, and industrial policies such as the Action Plan for Comprehensively Improving Medical Quality (2023-2025), the Outline for the Construction of a Quality Power, and the 14th Five-Year Plan for National Health have provided a clear and broad market prospect for the development of the medical device industry and a good production and operation environment for enterprises. The details are as follows:
Third, the development status of the medical device industry
1.Market size
China's medical device market is expected to continue to grow due to the continuous rise in clinical demand and continuous innovation of medical devices. According to the "2022-2027 China Medical Device Market Demand and Development Trend Prospect Report" released by the China Business Industry Research Institute, the scale of China's medical device market will increase from 623.5 billion yuan in 2019 to 1,035.8 billion yuan in 2023. According to an analyst from the China Business Industry Research Institute, the size of China's medical device market will reach 1.13 trillion yuan in 2024.
Data**: Compiled by Frost & Sullivan and China Business Industry Research Institute.
2.Market segments
(1) Medical equipment
With the rapid development of China's medical industry, the demand for medical instruments is also growing. According to the "2022-2027 China Medical Device Market Demand** and Development Trend Prospect Report" released by the China Business Industry Research Institute, the scale of China's medical device market will increase from 233.6 billion yuan in 2019 to 381 billion yuan in 2023. According to an analyst from the China Business Industry Research Institute, the size of China's medical device market will reach 415 billion yuan in 2024.
Data**: Compiled by Frost & Sullivan and China Business Industry Research Institute.
(2) Medical consumables
With the deepening of the aging population of Chinese and the improvement of the medical insurance system, the medical consumables market is growing rapidly. According to the "2024-2029 China Medical Consumables Intelligent Equipment Market Prospect and Financing Strategy Consulting Report" released by the China Business Industry Research Institute, the market size of China's medical consumables in 2023 will be 654.8 billion yuan. According to an analyst from the China Business Industry Research Institute, the market size of China's medical consumables will reach 715 billion yuan in 2024.
Data**: Compiled by Frost & Sullivan and China Business Industry Research Institute.
3.Approvals
China attaches great importance to the innovation and development of medical devices, and has set up special approval channels for medical devices with invention patents, technical initiatives, international leading level, and significant clinical application value. According to the "2022-2027 China Medical Device Market Demand** and Development Trend Prospect Report" released by the China Business Industry Research Institute, a total of 61 innovative medical devices have been approved for marketing in 2023, a new high compared with 54 in 2022.
Data**: Compiled by the Drug Administration and the China Commercial Industry Research Institute.
4.Investment and financing
From 2019 to 2021, the scale of investment and financing in China's medical device industry continued to expand, reaching the highest peak in 2021, with 777 financing events and 1462 investment and financing amounts400 million yuan. Since then, medical device investment and financing have cooled down, and in 2023, there will be a total of 448 medical device investment events in China, with a total investment amount of 5119.5 billion yuan.
Data**: IT orange, compiled by China Business Industry Research Institute.
Fourth, the key enterprises in the medical device industry
1.Mindray Medical
Shenzhen Mindray Biomedical Electronics Co., Ltd. is mainly engaged in the research and development, manufacturing, marketing and service of medical devices, and its main products cover three major fields: life information and support, in vitro diagnostics and medical imaging.
In the first three quarters of 2023, the operating income was 2730.4 billion yuan, a year-on-year increase of 172%；The net profit attributable to the parent company was 983.4 billion yuan, a year-on-year increase of 2138%。In 2022, the main products include life information and support products, in vitro diagnostic products, and medical imaging products, which accounted for the overall revenue. 29%。
Data**: Compiled by China Business Industry Research Institute.
Data**: Compiled by China Business Industry Research Institute.
2.INTCO Medical
INTCO Medical is a high-tech manufacturing enterprise dedicated to the research and development, production and marketing of medical device consumables, the main business covers four major sectors: medical protection, advanced nursing, health physiotherapy, and examination consumables, and the main products include disposable gloves, wheelchairs, hot and cold compresses, electrodes and other types of care products.
In the first three quarters of 2023, the operating income was 504.2 billion yuan, down 326%；Achieved net profit attributable to the parent company of 33.1 billion yuan, a year-on-year decrease of 482%。In 2022, the main products include personal protection and ** care, which will account for the overall revenue. 71%。
Data**: Compiled by China Business Industry Research Institute.
Data**: Compiled by China Business Industry Research Institute.
3.Lepu Medical
The main business of Lepu (Beijing) Medical Device Co., Ltd. is medical devices, medicines, medical services and health management. Lepu Medical's main products are stent systems, in vitro diagnostic products, surgical instruments, other self-produced device products, device product distribution business, drugs - APIs, drugs - clopidogrel bisulfate, drugs - atorvastatin calcium tablets, other drugs, medical services, and new medical formats.
In the first three quarters of 2023, the operating income was 625.9 billion yuan, down 1936%；Achieved net profit attributable to the parent company of 135.4 billion yuan, down 2519%。In 2022, the main products include medical devices, pharmaceuticals, medical services and health management, which accounted for the overall revenue. 18%。
4.Oriental Creatures
Zhejiang Dongfang Gene Biological Products Co., Ltd. specializes in the research and development, production and sales of in vitro diagnostic products. Dongfang Biotech's main products are: upstream antigen and antibody, primers, probes, microspheres and other biological raw materials, midstream immunodiagnostic platform (colloidal gold, fluorescent immunoassay, enzyme-linked immunoassay), molecular diagnostic platform (PCR nucleic acid + FISH fluorescence in situ hybridization), liquid biochip platform, biochemical diagnostic platform related diagnostic reagents and supporting diagnostic instruments, as well as downstream third-party independent testing laboratories and other institutions.
In the first three quarters of 2023, the operating income was 65.2 billion yuan, a year-on-year decrease of 917%；The net profit attributable to the parent company was 07.2 billion yuan. In 2022, the revenue of in vitro diagnostics business accounted for 99% of the total69%。
5.Xinhua Medical
Shandong Xinhua Medical Equipment Co., Ltd. is mainly engaged in the production and sales of medical devices and pharmaceutical equipment such as disinfection and sterilization equipment, as well as medical and pharmaceutical services.
In the first three quarters of 2023, the operating income was 731.7 billion yuan, a year-on-year increase of 1003%；Achieved net profit attributable to the parent company of 57.9 billion yuan, a year-on-year increase of 3786%。In 2022, the main products include medical devices, pharmaceutical equipment, and medical services, which will account for the overall revenue. 08%。
Fifth, the development prospects of the medical device industry
1.Industry policies have been continuously introduced to create a good external environment for the development of the industry
As an important part of China's people's life and health and medical and health undertakings, the medical device industry has been highly valued by the state. In order to promote the further rapid development of China's medical device industry, in recent years, the state has continuously introduced favorable policies, given strong support to the industry at the policy level, and encouraged domestic medical devices to accelerate innovation and become bigger and stronger. Such as the "14th Five-Year Plan" National Health Plan, the "14th Five-Year Plan" Medical Equipment Industry Development Plan, etc.
2.The gradual improvement of the hierarchical diagnosis and treatment policy has created a new broad market for the medical device industry
In order to optimize the allocation of medical resources, China continues to promote hierarchical diagnosis and treatment, and realize a high-quality and efficient medical service system of "primary diagnosis, two-way referral, acute and slow treatment, and upper and lower linkage". At present, the level of medical device allocation in China's primary medical institutions is low, and hierarchical medical care will promote primary medical institutions to increase the demand for medical device procurement.
3.The aging population is intensifying, and the demand for medical care is increasing
In recent years, the average life expectancy of the country has continued to increase. The incidence of most malignancies and craniocerebral disorders is age-related, with a higher incidence in the elderly population. With the growth of China's aging population, coupled with the continuous improvement of China's medical insurance system, the growth of basic medical insurance coverage, and the enhancement of residents' ability to pay, it is expected that the number of oncology and neurosurgery will increase in the future, and drive the development of related medical device markets.
For more information, please refer to the "Research Report on China's Medical Device Market Prospects and Investment Opportunities" released by the China Commercial Industry Research Institute, and the China Commercial Industry Research Institute also provides consulting services such as industrial big data, industrial intelligence, industrial reports, industry feasibility research reports, investigation and evaluation, industrial planning, park planning, industrial chain investment map, industrial investment guidelines, project packaging planning, and industrial investment promotion & promotion meetings.