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China Medical Device Market
Release time: 2023-02-07
Compared with the global medical device market, China's medical device market is developing relatively more rapidly. On the one hand, with the intensification of population aging and the improvement of residents' living standards and health awareness, the market demand for medical device products in China continues to grow; on the other hand, under the influence of the national medical device industry support policies, the domestic medical device industry as a whole has stepped into a rapid growth phase.
According to Frost & Sullivan's analysis, from 2017 to 2021, China's medical device market size will grow from RMB440.3 billion to RMB843.8 billion, with a compound annual growth rate of 17.7% during the period. With the continuous growth of domestic residents' per capita disposable income and the strong support of government policies for domestic and innovative medical devices, China's medical device market is expected to continue to maintain a good trend of rapid growth, and the future market growth space is vast, with China's medical device market size expected to grow to 1,244.2 billion yuan in 2025 and 1,660.6 billion yuan in 2030, with a CAGR of 10.2% during the period. The compound annual growth rate is 10.2% and 5.9% respectively.
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Compared with the global medical device market, China's medical device market is developing relatively more rapidly. On the one hand, with the intensification of population aging and the improvement of residents' living standards and health awareness, the market demand for medical device products in China continues to grow; on the other hand, under the influence of the national medical device industry support policies, the domestic medical device industry as a whole has stepped into a rapid growth phase.
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