China's medical device consumption accounts for only about 14% of the drug consumption market, while in the global market, the proportion of device and drug consumption is about 1:1. There is still a lot of room for growth in China's medical device industry. Important documents such as made in China 2020 and the 13th five year plan clearly list high-performance medical devices as the key development industry, and the development of China's medical device industry will accelerate in the future.
This paper analyzes and forecasts the market scale of four subdivided industries: household medical devices, pharmaceutical equipment, orthopedic devices and in vitro diagnostic instruments. By 2020, the market scale is expected to reach 324 billion yuan.
1. Household medical devices - the market scale is expected to reach 150 billion yuan in 2020
With the gradual transition of the development of China's medical industry from treatment to rehabilitation and prevention, medical devices have begun to show the development trend from hospital medical devices to household medical devices. China is far lower than the proportion of 40% of the medical device industry in developed countries. Household medical devices have great development potential in China.
In the past five years, the market scale of the industry has grown from 17.66 billion yuan in 2011 to 48 billion yuan in 2015. The compound growth rate in recent five years is close to 22%, which is higher than the average growth rate of medical devices of about 11%.
There is a shortage of public medical resources in China. Chronic disease detection and family testing are not only an effective way to alleviate the current shortage of public medical resources, but also one of the directions of medical system reform in the future. The contradiction between the rapid growth of demand and the shortage of public medical resources will stimulate the penetration of household medical devices.
At the same time, with the improvement of residents' income level, people's attention to health management has increased, the market of family health care products has been gradually opened, and the development of science and technology has made household medical devices more automatic and intelligent, the function of products has been improved day by day, and the desire of families to hold medical devices has increased, It provides broad space and huge business opportunities for the development of China's household medical device market.
In the next five years, household medical devices will grow at an annual rate of about 25%, and the industry scale is expected to reach 150 billion yuan by 2020.
2. Pharmaceutical equipment - the industry market scale is expected to exceed 130 billion yuan in 2020
In recent years, with the steady development of China's pharmaceutical market and the continuous growth of domestic pharmaceutical demand, the pharmaceutical equipment industry has also achieved rapid development. In the six years from 2010 to 2015, the total sales scale of China's pharmaceutical equipment industry has increased from 15.6 billion yuan to 52.5 billion yuan, and the growth rate has been maintained at more than 20%.
With the development of China's society and economy, China's national health awareness is gradually improved, and the drug consumption market is growing rapidly. Affected by many factors such as the aging population, the decline of drug prices, the restriction of infusion, the control of medical insurance fees and so on, the drug consumption market will continue to maintain a rapid growth trend in the future, driving the growth of the pharmaceutical equipment market.
With the implementation of the new version of GMP, people put forward higher requirements for drug quality, and the improvement of drug quality needs the renewal of relevant equipment. In order to adapt to the development of pharmaceutical industry and the environment of stricter policy supervision, pharmaceutical equipment will develop towards automation, intelligence and integration. The pharmaceutical industry will stage a "dressing change tide", and the replacement and renewal of equipment will drive the growth of demand for pharmaceutical equipment.
The continuous growth of market demand is the main driving force to promote the rapid growth of China's pharmaceutical equipment industry. In the next five years, the compound annual growth rate of the market scale of China's pharmaceutical equipment industry will be about 20%, and the market scale of the industry is expected to exceed 130 billion yuan by 2020.
3. Orthopaedic instruments - the industry scale is expected to reach 31 billion yuan in 2020
The orthopaedic device industry is a sub industry that can not be ignored in the medical device industry. At present, the domestic orthopaedic device industry is in the early stage of development, showing the characteristics of many, small and weak. With the acceleration of domestic aging and the enhancement of people's health awareness, the domestic orthopaedic device industry has maintained a compound growth of about 15.5% in recent five years, far exceeding the global growth rate of about 4.5%.
However, the overall penetration rate of China's orthopaedic device industry is very low, with the penetration rates of trauma, joint and spine being 4.9%, 0.6% and 1.5% respectively, while those of the United States are 66%, 43% and 38% respectively. Compared with the United States and other developed countries, there is a huge gap. China's orthopaedic device industry still has great development potential in the fields of joint and spine in the future.
In China's orthopaedic device industry, the high-end market has been monopolized by imported products for a long time. Compared with imported orthopaedic devices, the main competitive advantage of domestic products lies in the price advantage. With the improvement of the overall quality level of domestic orthopaedic devices and the tendency of domestic products in terms of medical insurance coverage, the import substitution advantage of domestic orthopaedic devices is gradually reflected, The overall rapid increase in the localization rate of orthopedic instruments is conducive to the rapid expansion of the whole industrial scale.
With the acceleration of the aging process, the continuous drive of the supporting policies for the medical device industry and the improvement of the penetration rate of domestic orthopaedic device products, the orthopaedic device industry will still maintain a rapid growth trend in the future. The compound growth rate of China's orthopaedic device industry will be about 12% in the next five years, and the industry scale is expected to reach 31 billion yuan in 2020.
4. In vitro diagnostic instruments - in 2020, the market scale of in vitro diagnostic instruments in China will be about 13 billion yuan
The global IVD industry is relatively mature and rose relatively late in China, but it has developed quite rapidly in recent years. It is one of the fastest growing branches of China's medical and health system. The average growth rate of the industry in the past five years has exceeded 20%, which is deeply sought after by the capital market. China's IVD industry is about to usher in the next golden period.
The per capita annual consumption of in vitro diagnostic products in China is low, the global share is relatively low, and there is still broad space for development in the market. Since 2005, the state has been encouraging and supporting high and new biological technologies, including in vitro diagnosis, and enjoyed multiple policy dividends. Under the background of canceling drug addition and medical insurance fee control, the price advantage of domestic in vitro diagnosis products has expanded, and the import substitution effect has gradually become prominent, driving the rapid development of China's in vitro diagnosis industry.
Two generation sequencing technologies, new models of Internet plus, big data and health management, and new targets for precision medicine will open new imagination to the overall development of the in vitro diagnostic industry, and technological progress and cost reduction will further support the accelerated development of the in vitro diagnostic industry.
With the improvement of the disposable income level of domestic residents, the demand for disease diagnosis and prevention and health management has increased, and the investment of the government and social health institutions has continued to increase. In the next five years, the in vitro diagnosis market will maintain a compound growth rate of 15%. In 2020, the scale of China's in vitro diagnosis market is expected to reach about 64 billion yuan.
Source: medworld
