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CAGR of Domestic Medical Devices Reaches 27%

Posted: 08/27/2014 11:08:13   Edited: 08/27/2014 11:08:13  Clicks: 1368
Under the multiple positive situations of domestic policy support, accelerated population aging, and the expansion of overseas market demand, domestic medical device manufacturers are expected to become the biggest beneficiaries.
 
The Eighteenth Third Plenary Session raised the decision to continue deepening the reform of primary health care institutions and encouraged social capital for medical operation. This will enhance the amount of patients to primary hospitals and promote the construction of private medical institutions, which can bring larger demand for equipment purchases. At the same time, population aging will lead to accelerated procurement needs of medical supplies and home medical equipment. By the end of 2011, China's elderly population over 60 had reached 185 million, 13.7% of the total population, and to grow to 14% in 2040. Overseas market has gradually become an important field of medical device industry services for China.

In the first half of 2014, the shipment value of China's medical device accounted for 24% of the income of total industry, with a growth rate of 13.1%. Despite the rapid growth of China's medical device industry, the overall scale is still small. From 2004-2012, China's compound growth rate of medical device industry reached 27%, far exceeding the global growth rate of 7% -8%. In 2013, China's medical device market scale was only 8% of the total pharmaceutical market, while the global medical device market had already achieved 42%. Therefore, it can be seen that the medical equipment industry of China has a vast future prospect.
 
CAGR of Domestic Medical Devices Reaches 27%

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