BMI View: After a period of relative weakness, the market is seeing renewed growth and continues to offer major potential, although the high growth rates of the past decade are looking increasingly unsustainable, as the economy slows and pricing pressures increase . The medical device industry will benefit from key elements of China's 13th Five-Year Plan (2016-2020), notably the emphasis placed on the strategic importance of innovation as a fundamental driver of future development. Other strategic priorities, such as the programme to create a "Healthy China" and the drive to increase urbanisation through the establishment of a series of smart city clusters, will also support market growth.
|Total (USDmn)||Per Capita (USD)||Total (Local Currency mn)||Per Capita (Local Currency)||Exchange Rate (Local Currency/USD)|
Latest Updates And Key Forecasts
We maintain our forecast that the market will register a 2014-2019 CAGR of 9.9% in local currency terms and 7.4% in US dollar terms, which will take the value to CNY169.8bn (USD24.6bn). The more moderate growth rate reflects slower economic growth, a more mature market in certain sectors and currency depreciation during the early part of the forecast period
We anticipate that imports will maintain momentum in 2017, despite a further slowdown in the economy, due to strong underlying drivers in the domestic market. Imports grew by 11.7% y-o-y in US dollar terms in the three months to August 2016 and by 4.7% to USD13.4bn in the year to August 2016.
We expect export weakness to persist in 2017 in light of the slowdown in global trade, despite a further depreciation of the yuan. Exports grew by 4.2% y-o-y in US dollar terms in the three months to August 2016 and by 0.9% to USD14.3bn in the year to August 2016.
Chinese authorities will remain committed to increasing competition in the domestic medical devices market, as shown by the price fixing fine on Medtronic. This will not deter company efforts to expand their Chinese footprint and capitalise on the growing opportunities for medical devices in China.
The China Medical Devices Report features market forecasts supported by trade, production and healthcare estimates by Espicom, a BMI Research's company. These forecasts and estimates focus on six product areas: Consumables, Diagnostic Imaging, Dental Products, Orthopaedics & Prosthetics, Patient Aids and Other Medical Devices.
Detailed product breakdown for market, trade and production data in China provides industry professionals, strategists, company executives and analysts with independent forecasts and competitive intelligence on the China Medical Devices industry.
- Benchmark BMI's Medical Devices market forecasts, which take into account macroeconomic and industry-specific forecasts for China, to test analysis as it is a key input for budgeting and strategic business planning. Use our standardised data to gain a better understanding of market performance in China.
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BMI Industry View
Provides industry, political and economic views. Briefly analyses the medical devices market, taking into account the latest industry forecasts, healthcare indicators and industry trends & developments.
SWOT analyses of the medical devices market, the political environment, the economic landscape and the business environment.
Evaluates and analyses the medical devices market in terms of historical and forecast trends, covering six product areas: Consumables, Diagnostic Imaging, Dental Products, Orthopaedics & Prosthetics, Patient Aids and Other Medical Devices. Additionally, presents annual and monthly import and export trade data.
Presents macroeconomic forecasts impacting the medical devices market.
Industry Risk Reward Index
Risk Reward Indices tool, which provides a globally comparative and numerically based assessment of the medical devices market’s attractiveness.
Assesses the medical devices market in the current year. Additionally, covers healthcare trends shaping the market, focusing on health status, healthcare system, healthcare funding, healthcare resources, healthcare activity and healthcare personnel. Includes historical healthcare data.
Industry Trends & Developments
Analyses the latest industry trends and developments shaping the market, in terms of monthly trade performance, forecast trends, production changes, regulatory developments, competitive strategies, political events and economic performance.
A focus on government healthcare reforms, epidemiological trends, mergers and acquisitions, product launches, market entries, FDI activity, R&D, biotechnology, clinical trials and supply chain issues.
Values historical medical devices production, and analyses the presence of national and multinational manufacturers operating in the market. Also, compares the presence of leading multinational company operations, either via sales & marketing, distribution or manufacture. Finally, takes into account market access drivers, including major distribution channels, trade associations and trade shows.
Carefully explains the medical devices market methodology, trade classifications, Risk Reward Index methodology and sources used in the medical devices market Report.