BMI Industry View: While the Chinese medical device market will still offer major potential , the high growth rates of the past decade are looking increasingly unsustainable, as economic growth slows and the market starts to mature in some sectors. Even so, the market will remain one of the most attractive in the Asia-Pacific region . We believe that multinationals with well established manufacturing and R&D operations in the country will be best placed to take advantage of future opportunities. .
Headline Industry Forecasts
We value the medical device market at USD17.2bn in 2014, making China the fourth largest market in the world and the second largest in Asia behind Japan. In per capita terms, the market is far from rich at USD12.6 in 2014. We forecast a 2014-2019 CAGR of 9.9% in local currency terms. This is a substantial fall from the 15.8% CAGR achieved over the 2009-2014 period and reflects lower economic growth over the forecast period as well as a more mature market in certain sectors. In US dollar terms, the 2014-2019 CAGR will be lower at 7.4%, which will see the market reach USD24.6bn in 2019. The lower dollar growth rate reflects currency depreciation during the early part of the forecast period.
Medical device imports supply the greater part of the market, although their market share has started to fall in many product areas in the face of rising domestic production. In 2014, imports grew by 6.9% in US dollar terms, the weakest performance since 2006. Imports have continued to underperform during H115. We expect the weakening economy and the recent currency devaluation will weigh on performance in 2015.
Medical device export growth continues to build momentum after a dip in performance in 2013 and 2014, when exports grew by 8.1% in US dollar terms. Exports have returned to double-digit growth in 2015. The recent devaluation of the Chinese currency should help to bolster export performance going forward. We expect exports will...
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.
- Target Business Opportunities in the China Medical Devices market by using our assessments and projections for demographic trends, regulatory developments, investment dynamics and domestic demand in China.
- Assess the activities and market position of your competitors via our assessments of domestic production, national and multinational manufacturers, along with the trade and distribution outlets of multinationals, key company developments and future growth prospects.
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.