Insight into the Development Trends of Medical Devices
#Company news ·2024-12-25 11:40:58
In recent years, China's medical device industry has shown a thriving development trend. From the perspective of industry scale, although the industry is facing significant downward pressure in 2024 due to factors such as volume based procurement, the stable growth of domestic medical demand and the strong recovery of equipment exports support the steady progress of the industry. According to the Southern Institute of Medical Economics, the expected operating revenue of medical device manufacturing enterprises in China in 2024 is about 1.35 trillion yuan, with an increase in growth rate compared to the previous year. According to data from the National Medical Products Administration, the number of first registrations of Class III medical devices in China reached 2655 in 2024, a year-on-year increase of 27.7%, and an average annual compound growth rate of 27.0% in the past five years. This demonstrates the accelerated iteration of industry products and the characteristic of "simultaneous improvement in quantity and quality" of mid to high end products.
In terms of innovation, China's medical device industry has achieved remarkable results. In 2024, the country will comprehensively implement and deepen the reform of the medical and health system, promote the development of "three medical linkage", and intensively release a series of policies to support the high-quality development of the medical device industry. The "2024 Medical Device Registration Report" shows that the National Medical Products Administration approved 65 innovative medical devices in 2024, setting a new historical high in the number of approvals, and the cumulative number of innovative products exceeded 300. This covers fields such as new biomaterials medical devices, high-end medical imaging equipment, and medical robots. Meanwhile, according to data from Zhizhiya, the number of invention patents authorized in China's medical device field will reach 50882 in 2024, with an average annual compound growth rate of 22.96% in the past five years, laying the foundation for the sustainable innovation and development of the industry.
However, the development of the industry also faces many challenges. On the one hand, there are many medical device production and operation enterprises with small average scale, serious product homogenization, low R&D innovation ability and risk resistance ability. On the other hand, the shortage of high-level innovative R&D talents and R&D funding investment makes the complete industry chain that meets the requirements of high-end medical device manufacturing still immature. In addition, in the international trade environment, factors such as the US China tariff war have led to a sharp decline in export orders for low value consumables and a surge in the cost of core components for high-end equipment, which has had an impact on the industry's overseas market expansion and supply chain stability.
Despite facing challenges, the industry has also ushered in numerous development opportunities. From a policy perspective, the country continues to increase its support for medical device research and development innovation, such as the relevant opinions issued by the General Office of the State Council, which clearly propose measures to increase support for medical device research and development innovation and improve the quality and efficiency of review and approval. From a market perspective, with the increasing trend of population aging, the demand for medical services is steadily growing, bringing broad market space to the medical device industry. At the same time, domestic medical devices have formed scale advantages in some fields, and their international competitiveness continues to strengthen, with huge overseas market space. According to Medtech Insight, 10 Chinese companies have entered the top 100 global medical devices companies in 2024.
Overall, the Chinese medical device industry has achieved significant results in terms of scale growth and innovation breakthroughs, but it also faces challenges from internal structural optimization and external environmental changes. In the future, with the continuous support of policies, the continuous improvement of innovation capabilities, and the further expansion of the market, the Chinese medical device industry is expected to occupy a more important position in the global market and achieve higher quality development.