Medical Device Manufacturing in China - Market Research Report (2014-2029)
Beijing, China
Last Updated: May 2024
3681Revenue
$33.9bn
Past 5-Year Growth
Profit
$X.Xbn
Employees
117k
Businesses
436
Wages
$X.Xbn
Medical Device Manufacturing in China industry analysis
The Medical Device Manufacturing industry is set to generate $33.9 billion in revenue in 2022, up 13.1% from 2021. Industry revenue is expected to grow at an annualized 12.9% over the five years through 2022. This growth has been supported by the increasing purchasing power of hospitals, improvements in living standards and therefore demand for medical diagnoses, technology upgrades in hospitals, requirements for higher quality products and the development of China's western regions. Since 2020, the COVID-19 pandemic has significantly boosted industry revenue.Domestic demand is set to increase by 11.9% in 2022, with imports accounting for an estimated 22.6% share. Hospitals, especially large ones in China's major cities, have significant preferences for foreign diagnostic equipment. However, the level of technology used by the large industry players has improved, driving growth in exports and domestic demand. In 2022, exports are expected to increase by 8.0% to total $5.4 billion, or 16.0% of industry revenue.In 2016, the National Health and Family Planning Commission issued the Chinese Health and Family Planning Development Statistical Bulletin (2018). According to the statistical bulletin, the total number of clinics in medical institutions in China increased from 4.1 billion person-trips in 2005 to 8.5 billion person-trips in 2021. The increasing number of clinics and demand for upgrading medical devices of domestic medical and health institutions promoted the development of Medical Device Manufacturing in China.Over the next five years, industry revenue is forecast to increase at an annualized 9.4%, to $53.1 billion. The industry is in the growth phase of development, but it will begin to mature over the next five years. New government policies are encouraging patients to procure medicines and pharmaceuticals themselves, rather than from hospitals. As a result, hospitals will have to improve services to retain the same funding. The purchase of medium- and high-end medical equipment is expected to improve service and quality in these hospitals. In addition, the COVID-19 pandemic will likely further promote the research and development of this industry.
Trends and Insights
- The industry develops rapidly in recent years. Multiple factors including increasing consumers’ income level, improvement of people's health awareness and industry policy supports, etc. promote the fast growth of the industry scale.
- Computerized tomography equipment is the largest product segment, accounting for an estimated 22.5% of industry revenue in 2024. This segment market will continue growing in the future.
- China's medical device enterprises are mainly concentrated in Bohai economic circle, Yangtze River Delta area and Pearl River Delta region. It shows the polarization between eastern coastal areas and western regions of China.
- The industry concentration level is low. The sales revenue of the top four enterprises are expected to account for 32.9% of total industry revenue in 2024.
Industry Overview
Market size and recent performance (2014-2029)
Industry revenue has grown at a CAGR of 12.9 % over the past five years, to reach an estimated $33.9bn in 2024.
Trends and Insights
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Biggest companies in the Medical Device Manufacturing in China
| Company | Market Share (%)
2022 | Revenue ($short_0)
2022 |
|---|
There are no companies that hold a large enough market share in the Medical Device Manufacturing in China industry for IBISWorld to include in this product.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Computerized tomography equipment, X-ray equipment and Ultrasound medical diagnosis, monitoring and treatment equipment. Computerized tomography equipment is the largest segment of the Medical Device Manufacturing in China.
Trends and Insights
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- There are no industries to display.
Complementors
- Medical Supplies Manufacturing in China
- Dental Equipment Manufacturing in China
- Medical & Veterinary Instrument Manufacturing in China
International industries
- Medical Device Manufacturing in the US
- X-Ray Machine Manufacturing in the US
- Hearing Aid Manufacturing in the US
- Robotic Surgery Equipment Manufacturing in the US
- Venous Access Device Manufacturing in the US
Table of Contents
About this industry
Industry definition
Firms in the Medical Device Manufacturing industry in China manufacture medical diagnosis equipment, medical monitoring equipment and medical treatment equipment. Firms in this industry purchase materials (such as metals, plastics, parts and components) and manufacture these inputs to produce items such as computerized tomography (CT), magnetic resonance imaging (MRI), ultrasound and other medical equipment.
What's included in this industry?
Ultrasound equipment manufacturingLaser equipment manufacturingMedical cryotherapy apparatus manufacturingMedical electronic equipment manufacturingMedical extracorporeal circulation apparatus and blood purification equipment manufacturingAnalytical instrument of clinical inspection and diagnosis reagents manufacturingMRI and radionuclide equipment manufacturingTraditional Chinese medical equipment manufacturingMedical high energy radiation equipment manufacturingCompanies
Purchase this report to view all major companies in this industry.
Related Terms
CRYOTHERAPYEXTRACORPOREAL CIRCULATIONENDOSCOPEPerformance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
The industry develops rapidly in recent years. Multiple factors including increasing consumers’ income level, improvement of people's health awareness and industry policy sup...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Computerized tomography equipment is the largest product segment, accounting for an estimated 22.5% of industry revenue in 2024. This segment market will continue growing in ...
In this chapter
- Products & Services
- Major Markets
- International Trade
Key metrics
- Largest market segment and value in 2024
- Product innovation level
- Total imports, level and trend
- Total exports, level and trend
- Trade Balance
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
- International trade, including imports by country and exports by country
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
- Recent trends in import and export volumes, country of origin or destination, and expected future trends
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
China's medical device enterprises are mainly concentrated in Bohai economic circle, Yangtze River Delta area and Pearl River Delta region. It shows the polarization between ...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each region
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each region in 2024
- Number and share of revenue each region accounts for in 2024
- Number and share of wages each region accounts for in 2024
- Number and share of employees in each region in 2024
Detailed analysis
- Geographic spread of the industry across Asia Pacific, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
The industry concentration level is low. The sales revenue of the top four enterprises are expected to account for 32.9% of total industry revenue in 2024.
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
Major companies usually emphasize research and development. Major companies usually have been increasing technology research and development investment and developing new pro...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
Detailed analysis
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
The Government in China guides the industry development. The Government in China encourages the industry enterprises to increase research and development investment to promot...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Profitability is higher, but decreasing. The industry profit margin is expected to decrease to 10.7% in 2024, down from 10.9% in 2019.
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in China include:
- National Bureau of Statistics China
- General Administration of Customs
- People’s Bank of China
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Medical Device Manufacturing industry in China in 2024?
The market size of the Medical Device Manufacturing industry in China is $33.9bn in 2024.
How many businesses are there in the Medical Device Manufacturing in China industry in 2024?
There are 436 businesses in the Medical Device Manufacturing industry in China, which has grown at a CAGR of 5.5 % between 2019 and 2024.
Has the Medical Device Manufacturing industry in China grown or declined over the past 5 years?
The market size of the Medical Device Manufacturing industry in China has been growing at a CAGR of 12.9 % between 2019 and 2024.
What is the forecast growth of the Medical Device Manufacturing industry in China over the next 5 years?
Over the next five years, the Medical Device Manufacturing industry in China is expected to grow.
What does the Medical Device Manufacturing in China include?
Ultrasound equipment manufacturing and Laser equipment manufacturing are part of the Medical Device Manufacturing industry.
How competitive is the Medical Device Manufacturing industry in China?
The level of competition is high and increasing in the Medical Device Manufacturing industry in China.
