China Minimally Invasive Surgery Devices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

China Minimally Invasive Surgery Devices Market is expected to register a CAGR of 10.2% during the forecast period. However, the COVID-19 pandemic caused a drop in the market in 2020 as the number of elective and planned surgeries had been drastically reduced. Further, the logistical restrictions, disrupted raw material supplies, and hospitals' economic instabilities led to a market decline.

Key Highlights

• Factors such as smaller incisions, reduction in healing time, reduced anastatic use, decreased hospital stays, and improved accuracy have improved product adoption of Minimally Invasive Surgery (MIS) devices by most surgeons across the country.
• In recent years, China's rapidly aging population and rising income level have put the spotlight on China's health system. According to South China Morning Post, China's aging crisis is deepening with the falling number of new births. According to the same source, China had 280.04 million people over 60 at the end of the last year, up from 267.36 million people or 18.9 percent of the population at the end of 2021.
• Thus, aging and significant government investment have provided the country's healthcare sector with new growth avenues. For instance, the 2009 Health Reform made by the government increased fiscal subsidies for public health from RMB15 per capita in 2009 to RMB84 per capita in the last year. Therefore, the rising affordability of the general population towards healthcare services is driving the growth of the Minimally Invasive Surgery market in China.
• Increased investments in healthcare infrastructure by various organizations and hospitals are expected to create opportunities for manufacturers. Surgical wards in newly built hospitals are envisioned to be equipped with advanced surgical equipment to provide a high standard of medical care in China, which is expected to propel market growth over the forecast period.
• The increasing prevalence and fatality of chronic diseases in China demand innovative and advanced solutions to counter evolving health problems. According to SpringerLink, last year, approximately 2.79 million cases and 1.94 million deaths occurred in older Chinese people. This presents 55.8% and 68.2% of cases and deaths in all populations in the country.

China Minimally Invasive Surgery Devices Market Trends

The Cardiac Segment is Expected to Hold a Major Market Share

• The clinical demand for treating severe aortic stenosis is expected to increase due to the aging population in China. China not only has the largest population on earth (with more than 1.4 billion people) but is also one of the countries with the fastest aging population.
• This is primarily due to decades of falling birth rates on the one hand and steeply rising life expectancy on the other. According to a survey by the United Nations, the share of the population older than 65 in China in 2035 is estimated to be 20.7% of its total population.
• Because of its large population base, China is facing a growing number of pediatric and adult CHD patients. Moreover, according to China CDC, it has been estimated that nearly 330 million patients suffer from CVD in China. The number of patients suffering from different heart diseases such as coronary heart disease, stroke, heart failure, pulmonary heart disease, atrial fibrillation, rheumatic heart disease, congenital heart disease, lower extremity artery disease, and hypertension is 11.39 million, 13.00 million, 8.90 million, 5.00 million, 4.87 million, 2.50 million, 2.00 million, 45.30 million, and 245.00 million, respectively.
• Therefore, with China getting challenged by the dual pressures of population aging and the steady rise in the prevalence of metabolic risk factors, the burden caused by CVD is likely to increase, which has set new requirements for CVD prevention and treatment and the allocation of medical resources in China.
• The regional companies are focusing on developing advanced products and expanding their product portfolio to cater to the complex requirements of a cardiac procedure. For instance, in January last year, Medtronic plc announced that the National Medical Products Administration (NMPA) had approved the CoreValve Evolut PRO TAVR (Transcatheter aortic valve replacement) system to treat severe aortic stenosis (AS) for symptomatic patients in China who are at high or extreme risk for open-heart surgery.

Rising Chronic Diseases is Expected to Drive the Market Growth

• The World Bank projected that over 400 million Chinese people could be over 60 years old by 2050. With the rapid development of the economy, environmental changes, aging, unhealthy lifestyles such as tobacco use, unhealthy nutrition, and physical inactivity constantly spring up. Now, China is facing the formidable challenge of chronic diseases.
• Further, according to the National Center for Biotechnology Information research, focusing on chronic illness and aging in China, there is a progressive shift in the burden of disease to chronic Non-Communicable Diseases (NCDs).
• Almost 80% of deaths in China in people aged 60 years are from chronic NCDs, the most burdensome being Ischemic Heart Disease, Stroke, Chronic Obstructive Pulmonary Disease (COPD), and Type 2 Diabetes. Smoking, alcohol consumption, sedentary behavior, and poor dietary intake contribute significantly to these conditions.
• Additionally, according to the Chinese medical journal, it is estimated that the number of new cancer cases reached 19.3 million globally, and nearly 10 million people died from cancer in 2020. Furthermore, female breast cancer displaced lung cancer and became the most substantially diagnosed cancer for the first time. With the rising, increasing population and chronic diseases in the nation, the demand for minimally invasive surgical equipment is soaring.

China Minimally Invasive Surgery Devices Industry Overview

The China Minimally Invasive Surgery Devices Market is a moderately competitive market with significant players like Medtronic Plc, Stryker Corporation, Becton, Dickinson, and Company, HOYA Corporation, etc. The companies in the market are committed to adopting advanced technologies and innovations through partnerships and acquisitions.

• January 2023- Agilis Robotics announced the successful completion of the second round of live animal testing using its proprietary robot, The Agilis Robotics System. This system is a robotic surgical solution designed for endoscopic surgery, featuring a set of flexible surgical robotic instruments, a positioning cart, and a surgeon's control chair.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

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