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allbiomedical > News & Topics >Medical Devices Market in China Will Maintain 20 % AGR

Medical Devices Market in China Will Maintain 20 % AGR
Author: Sharon Lai
Source From:
Posted Date: 2012-11-13

As the fourth large-scale medical device market all over the world, China has the market more than 60 billion RMB, of which the medical diagnostic imaging market is more than 22 billion RMB. Hu Hai though that with the urbanization and aging, more opportunities will spring up in medical device industry. Over the coming years, China's medical devices market including medical imaging will maintain a 20 per cent growth rate.

TCL should at first be confronted with the competition with international magnates if he wants to convert the encouraging data to reality. Zero2IPO’s statistics showed that high-end and middle-low-end products basically accounted for 25% and 75% of China’s medical devices market in 2010, respectively. However, high-end and middle-low-end products accounted for 55% and 45% of international medical devices market in 2010, respectively. The overall trend of Chinas’ medical devices industry is toward middle-low-end products, showing a significant polarization.

A medical health industry analyst of Zero2IPO, Xiao Jun believed that some large-scale hospitals imported all medical equipments and it was very difficult for local medical devices companies to succeed in high-end market, leading to focus on the middle-low-end equipments in China. At the same time, due to its own problem of medical industry, there is more competition on channel expansion of hospitals rather than quality of products.

Wang Shenshou introduced that another reason why the third-grade class-A hospitals would like to purchase the imported equipments was that the supplier would be responsible for risk of medical accidents. In case there was any problem, the manufacturers would compensate, which was irrelevant to the hospital. In contrast, none of the local medical devices companies could afford such risk.

"Medical devices companies have been most enthusiastic about the price war and establishing relationship with hospitals, therefore, it is very difficult for local medical equipments to get the recognition of high-end customers." Xiao Jun introduced that China’s medical devices market occupied 14% of total medical market, which was far away from 42% of the average global level. In addition, compared to the global consumption level of medical devices per capita, there was still broad space of 5-6 times in China.

Wang Hongqing considered that it was just the reason why HAO Capital chose to be involved in medical devices industry at this moment. Many third-grade class-A hospitals in first-tier cities generally selected imported equipments, while most third-grade class-A hospitals in second-third-tier cities could not afford them due to insufficiency of funds, bringing more opportunities for local medical devices companies.

"The quality of most local enterprises is not competitive that choose the 'following route'. Technology-driven TCL Medical will not be involved in price wars." Hu Hai told the reporter that TCL had purchased some medical imaging technology from a company in Silicon Valley, USA and the company's own funds would mainly be used for purchase, R&D and construction of channel in the future.


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