China currently has a very small market share in the global medical device market.

Release date: 2007-07-11

China currently occupies a small share of the global medical device market. According to experts, by 2005, China’s medical device exports reached US$ 3.679 billion, a year-on-year increase of 32.45%. Like Neusoft and Anke, many products have obtained FDA and European CE certification and successfully entered the global market.
However, the market share of Chinese products is still quite poor.
In the global medical device market sales, American brands account for more than 40%, European brands account for about 30%, Japanese brands account for 15% to 18%, and Chinese brands only account for 2%.
At the same time, there is a considerable gap in the types of medical device import and export products in China. From the perspective of the types of import and export products, the main imported products are large-scale medical equipment with high technical content. Although some high-end medical equipment products are exported, they are mainly medical equipment with low technical content and regularity. The reason for this situation is that domestic medical device manufacturers are small in scale, with low R&D and sales ratios and few self-owned technology products.
Policy support is very key statistics show: the current total value of China's medical equipment market is about 1.2 billion US dollars, is expected to increase to 1.7 billion US dollars by the end of this year, in the next 5 to 7 years, China will surpass Japan to become the world's second largest medical Equipment market. By 2010, the total output value of medical equipment in China will reach 100 billion yuan, and the share of the world medical equipment market will account for 5%. By 2050, this share will reach 25%.
Starting from the earliest raw material bases and manufacturing bases, China's equipment manufacturing industry is facing a historical opportunity of industrial upgrading, that is, from manufacturing to innovation, core technology research and development and production.
In the process of China's industrial upgrading, it is necessary for a group of people to take the lead in taking the lead, and some enterprises and some industries are required to take the lead in achieving breakthroughs. For potential enterprises, the state needs financial and policy support. If it is difficult for Chinese companies themselves to achieve breakthroughs. On the other hand, in addition to the need for strong government support, it also needs the support of the society, especially the medical sector and hospitals. (HC360)

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