With the further deepening of China's reform and opening up, social, economic, and cultural construction have all entered a new period of development. In this social context, the public's demand for medical care is gradually increasing, and the innovation and development of medical devices has maintained a rapid and healthy trend, and regulatory policies will be further improved.

　　In the past 20 years, China's medical device industry has made remarkable progress, and the development of China's medical device industry will enter the fast track in the next ten years.

Eight opportunities and challenges

Analyzing and summarizing the development of China's medical device industry at this stage, the opportunities and challenges faced can be summarized as follows:

1. The national policy environment is conducive to the development of the industry

In 2017-2018, the intensive introduction and implementation of various policies, and the good regulatory environment have made the industry feel the arrival of the "good era"; In 2015, the policy put forward the focus on "integration of medical care and elderly care"; In 2016, the "Healthy China 2030" was promulgated, and the National Health and Wellness Conference elevated "Healthy China" to a national strategy; In 2017, the "Made in China 2025" was implemented to accelerate the transformation from a manufacturing country to a manufacturing power. In particular, the establishment of the review and approval of innovative medical devices and the establishment of the MAH system are hugely favorable in terms of policies, and the future development of the industry is full of expectations.

2. The market continues to expand

In the past five years, China's medical device industry has continued to maintain a compound growth rate of about 15%, and it is expected that the growth rate of China's medical device industry will remain at an average annual rate of more than 10% in the next 10 years, and the ratio of China's medical device and drug sales is currently about 0.25:1, which is expected to be further improved in the future.

3. The new medical reform stimulates the rapid growth of low-end devices

Since the new medical reform, from the low-end medical consumables, POCT, grassroots laboratories and other fields of market increment and equipment production and operation enterprises have paid more and more attention to the grassroots market, has shown changes in the market, in 2018 in the primary medical market equipment and consumables "upgrading" and "filling the gap" is still a trend.

4. Domestic independent innovation equipment continues to emerge

In recent years, the state has successively introduced domestic medical device encouragement policies, good policy incentives, so that the domestic medical device industry is encouraged, rapid development, it is foreseeable that in the next 3~5 years, there will be a large number of domestic innovative medical device products come out, many medical behavior will be changed because of the emergence of new technologies and new products.

5. Imports and exports continue to increase

The data shows that the changes in international market demand and the guidance of China's "Belt and Road" policy have made exports have unexpected results and have a good momentum. With the improvement of China's scientific and technological level, the structure dominated by "low value" will also inevitably change.

6. Industry mergers and acquisitions are accelerating

In the field of circulation, the mergers and acquisitions represented by Sinopharm, Shanghai Medicine, Jointown, Ruikang Pharmaceutical and other enterprises have come and gone, and the horizontal and vertical mergers and acquisitions of production enterprises are also in the ascendant, stirring the overall industry pattern, we have reason to believe that this trend will continue, and some regional leading enterprises will also join the tide of mergers and acquisitions, and cross-border mergers and acquisitions are on the rise.

7. Household appliances are booming

According to the data, the current market size of household medical equipment is about 75 billion yuan, with an annual growth rate of 25%. Diagnostic monitoring instruments, such as traditional blood pressure monitors, blood glucose meters, stethoscopes, etc.; Therapeutic equipment, such as home and personal hemodialysis machines, etc.; Rehabilitation equipment, such as medical beds, intelligent workstations, etc., are performing well, and there are many new intelligent products based on the Internet, in 2018 the state issued the relevant documents of "Internet + medical care", which will promote the listing of new products based on "Internet +".

8. The rise of third-party services is accelerating

It is estimated that the medical device service market will have a market capacity of 100 billion yuan; Medical imaging, testing, blood purification, and pathology will still be the main areas of "third-partyization", and there will be more and more third-party service models such as medical asset management, overall maintenance solutions, and cost packaging, and emerging third-party intensive service models such as logistics platforms and disinfection will also emerge.