Impact of China on Medical Devices Industry - Thematic Research

China is among the top 10 largest medical devices markets worldwide, and is regarded as one of the most promising markets. The estimated market value of medical devices in China was around $42.6 billion in 2022, accounting for 8.3% of the world total.

While the global medical devices market is forecast to grow at a compound annual growth rate (CAGR) of 4.2% through 2025, China's medical devices market is forecast to grow at a faster CAGR of 5.6% over the same period. It is expected to grow to $59.5 billion in the next five years. The key drivers of growth in China's medical devices market include the growing aging population, an increase of chronic conditions, increasing penetration of medical devices at all levels of healthcare, the growing coverage by Chinese health insurance funds, and increased purchasing power by an expanding Chinese middle class.

As the initial epicenter of the coronavirus disease 2019 (COVID-19) pandemic, all medical procedures and services were severely impacted. All operating rooms were unused, except for emergencies. All medical resources and personnel were reassigned to COVID-19 patients. The pandemic boosted the sales of domestic medical devices related to COVID-19 prevention and management due to the strong demand in China and abroad. However, medical devices that were not related to COVID-19 experienced a sharp drop in demand.

The medical devices industry had returned to pre-pandemic levels in 2021 when sales increased again. However, a new wave of COVID-19 hit China again on a large scale in March 2022. This had a severe impact on the supply chain, which affects many industries including medical devices.

Scope

• This report is a thematic brief, which identifies those companies most likely to succeed in a world filled with disruptive threats. Inside, we predict how each theme will evolve and identify the leading and disrupting companies.
• The report covers the China Impact theme.

Reasons to Buy

• The publisher's thematic research ecosystem is a single, integrated global research platform that provides an easy-to-use framework for tracking all themes across all companies in all sectors. It has a proven track record of identifying the important themes early, enabling companies to make the right investments ahead of the competition, and secure that all-important competitive advantage.
• Develop and design your corporate strategies through an in-house expert analysis of China Impact by understanding the primary ways in which this theme is impacting the medical devices industry.
• Stay up to date on the industry's major players and where they sit in the value chain.
• Identify emerging industry trends to gain a competitive advantage.