The Medical Device Market: China

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Date: 29-Jan-2014
No. of pages: 233
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Overview

China ranks as the largest economic power of the Asia Pacific region with a projected GDP of US$9.1tn in 2013. In terms of GDP per capita, it is considerably lower at US$6,676 in 2013, owing to its large population. Moreover, the country is divided into a relatively wealthy eastern coastal belt – consisting of Tianjin, Shandong, Jiangsu, Shanghai, Zhejiang, Fujian and Guangdong provinces and much poorer, underdeveloped regions in the interior and the west. Although the government has undertaken massive development plans to address these imbalances, and new factories are gradually being built further inland, this will be a long drawn-out process in a country of China’s size.

The Chinese government has launched a health reform programme that aims to create a solid platform for universal healthcare access for all by 2020. Phase 1 of the programme committed CNY850bn (US $124bn) to develop the country’s healthcare system, whilst phase 2 proposes investment of CNY400bn (US$63.5bn) is to be invested in the healthcare system through to 2020.

The prospects for medical device spending is huge; the government has committed heavily to the construction of thousands of hospitals, healthcare centres, clinics and this will inevitably lead to spending on capital goods, most notably medical devices, equipment and furniture at an unprecedented rate in a relatively short space of time. In 2012, the central government alone invested CNY 24.3bn (US$3.9bn) to improve health service infrastructure.

The medical device market is estimated at just under US$17.1bn in 2013. This makes China the fourth largest market in the world and the second largest in Asia behind Japan. In per capita terms, however, the market is far from rich. Per capita spending in 2013 is estimated at US$12.6. For the 2013-18 period, Espicom estimates market growth will continue to average 20% per annum in local currency, equivalent to a US dollar CAGR of 18.7%, making China one of the fastest growing markets in the world. High rates of growth are not uncommon in the Asian region, but on the back of a huge market size, China’s growth is particularly pronounced.

Imports have grown very strongly during recent years, rising by 20.7% in 2012 to reach US$10,329.0mn.

All product categories posted strong growth during the period led by orthopaedic & prosthetic products.

The Medical Device Market: China

Table of Contents

Espicom Industry View   9
Espicom Industry View      9
SWOT    12
Medical Device Market     12
Political     14
Economic    15
Business Environment     16
Industry Forecast     17
Medical Device Market Forecast    17
Past Performance 2008-2013    17
Future Performance 2013-2018    18
Table: Projected Medical Device Market, 2013-2018     19
Table: Detailed Medical Device Market By Product Area, 2008-2018 (US$mn)   20
Table: Detailed Medical Device Market By Product Area, 2008-2018 (US$ Per Capita)  24
Table: Detailed Medical Device Market By Product Area, 2008-2018 (% of Total)     27
Table: Detailed Medical Device Market By Product Area, 2009-2018 (US$mn % Change)     30
Consumables Market Forecast    34
Table: Consumables Market, 2008-2018 (US$mn)  35
Table: Consumables Market, 2008-2018 (US$ Per Capita)    36
Table: Consumables Market, 2009-2018 (US$mn % Change)    37
Diagnostic Imaging Market Forecast     40
Electrodiagnostic Apparatus Sector   40
Radiation Apparatus Sector     41
Imaging Parts & Accessories Sector     42
Table: Diagnostic Imaging Market, 2008-2018 (US$mn)     42
Table: Diagnostic Imaging Market, 2008-2018 (US$ Per Capita)   44
Table: Diagnostic Imaging Market, 2009-2018 (US$mn % Change)     45
Dental Products Market Forecast   48
Table: Dental Products Market, 2008-2018 (US$mn)     48
Table: Dental Products Market, 2008-2018 (US$ Per Capita)  49
Table: Dental Products Market, 2009-2018 (US$mn % Change)     50
Orthopaedics & Prosthetics Market Forecast  52
Table: Orthopaedics & Prosthetics Market, 2008-2018 (US$mn)   53
Table: Orthopaedics & Prosthetics Market, 2008-2018 (US$ Per Capita)   54
Table: Orthopaedics & Prosthetics Market, 2009-2018 (US$mn, % Change)      54
Patient Aids Market Forecast     56
Table: Patient Aids Market, 2008-2018 (US$mn)    57
Table: Patient Aids Market, 2008-2018 (US$ Per Capita)   57
Table: Patient Aids Market, 2009-2018 (US$mn, % Change)   58
Other Medical Devices Market Forecast    60
Table: Other Medical Devices Market, 2008-2018 (US$mn)   61
China Medical Devices Report Q1 2014
Table: Other Medical Devices Market, 2008-2018 (US$ Per Capita)  62
Table: Other Medical Devices Market, 2009-2018 (US$mn, % Change)   63
Annual Medical Device Imports     65
Table: Medical Device Imports By Product Area, 2008-2012 (US$000s)      69
Table: Medical Device Imports By Product Area, 2008-2012 (US$000s, % Change)  70
Table: Medical Device Imports By Product Area, 2008-2012 (Local Currency 000s)     71
Table: Medical Device Imports By Product Area, 2008-2012 (Local Currency 000s, % Change)      72
Table: Medical Device Imports By Product Area, 2008-2012 (% Distribution)      74
Table: Leading Medical Device Suppliers By Product Area (US$000s)      77
Table: Leading Medical Device Suppliers By Product Area (% Distribution)      78
Table: Top 20 Medical Device Suppliers (US$000s)  79
Table: Detailed Medical Device Imports By Product Area, 2008-2012 (US$000s)  80
Table: Detailed Medical Device Import Trends By Product Area, 2012      83
Table: Detailed Leading Medical Device Suppliers By Product Area, 2012 (US$000s)  87
Monthly Medical Device Imports    90
Table: Monthly Medical Device Imports By Product Area, October 2010-September 2013 (US$mn)     90
Annual Medical Device Exports     92
Table: Medical Device Exports by Product Area, 2008-2012 (US$000s)   96
Table: Medical Device Exports by Product Area, 2008-2012 (US$000s, % Change)  97
Table: Medical Device Exports by Product Area, 2008-2012 (Local Currency 000s)  98
Table: Medical Device Exports by Product Area, 2008-2012 (Local Currency 000s, % Change)      99
Table: Medical Device Exports by Product Area, 2008-2012 (% Distribution)   100
Table: Leading Medical Device Destinations by Product Area (US$000s)      103
Table: Leading Medical Device Destinations by Product Area (% Distribution)      104
Table: Top 20 Medical Device Destinations (US$000s)   105
Table: Detailed Medical Device Exports by Product Area, 2008-2012 (US$000s)  106
Table: Detailed Medical Device Export Trends by Product Area, 2012   109
Table: Detailed Leading Medical Device Destinations by Product Area, 2013 (US$000s)     113
Table: Detailed Medical Device Balance of Trade, 2008-2012 (US$000s)      116
Monthly Medical Device Exports     119
Table: Monthly Medical Device Exports By Product Sector, October 2010-September 2013 (US$mn)  119
Macroeconomic Forecasts  122
Economic Analysis   122
Table: China - Economic Activity     127
Industry Risk Reward Ratings      128
Industry Risk Reward Ratings   128
Table: Espicom Analysis Of The Medical Device Market, 2013     128
Market Overview     130
Medical Device Market Overview     130
OVERVIEW     130
Table: Medical Device Market, Key Ratios, 2013  132
The Market In 2013     132
Table: Medical Device Market By Product Area, 2013   133
Healthcare Overview     133
Healthcare System      133
Health Insurance   139
Table: New Rural Co-operative Medical Scheme, 2004-2011  142
Medical Technology     143
Table: Provision of CT & MRI In Selected Chinese Provinces, 2009     144
Health Expenditure     144
Table: Summary of Key Data, 2008-2013  145
Industry Trends And Developments   148
Industry Trends & Developments     148
Table: Top Twenty Suppliers Of Chinese Medical Device Imports, 2008-2012 (US$000s)     148
Table: Leading Destinations For Chinese Medical Device Exports, 2008-2012 (US$000s)  150
Table: Medical Device Manufacturers Key Financials, Q1-3 2013 (CNYmn)   155
Table: Publicly Listed Chinese Medical Device Manufacturers     156
Regulatory Development  162
Medical Device Regulations     162
Regulatory Authorities      162
Regulatory Developments   165
Intellectual Property Rights    168
Local Manufacturing    168
Medical Device Pricing & Reimbursement   169
Competitive Landscape   172
Domestic Medical Device Production    172
Table: Medical Device Production, 2008-2012  172
Domestic Medical Device Manufacturing    173
National Medical Device Manufacturers     173
Table: Andon Health Key Financials, 2010-2012  174
Table: Biolight Meditech Key Financials, 2010-2012   175
Table: Edan Instruments Key Financials, 2010-2012   177
Table: Jiangsu Yuyue Medical Equipment Key Financials, 2010-2012      178
Table: Jiangsu Yuyue Medical Equipment Revenue By Product Area, 2011-2012  179
Table: Lepu Medical Group Key Financials, 2010-2012   181
Table: Mindray Key Financials, 2008-2012 (US$mn)     184
Table: Mindray Sales by Product Category 2012  185
Table: Shandong Weigao Group Medical Polymer Key Financials, 2010-2012   187
Table: Shandong Weigao Group Medical Polymer Revenue By Product Group,2010-2012  188
Table: Shandong Xinhua Medical Instrument Key Financials, 2010-2012      190
Table: Trauson Key Financials, 2009-2011  192
Table: Trauson Revenues by Product Category, 2010-2011   192
Table: Wandong Medical Equipment Key Financials, 2010-2012      194
Table: Zhuhai Hokai Key Financials, 2010-2012  195
Table: Zhuhai Hokai Revenue By Product, 2011-2012     195
Table: Leading Local Manufacturers By Category    196
Multinational Medical Device Manufacturers  199
Table: GE Healthcare's Principal Manufacturing Facilities In China     207
Multinational Market Activity   222
Table: Multinational Market Activity, 2013  222
Medical Device Market Access     225
China Medical Devices Report Q1 2014
Distribution     225
Methodology     226
Table: Used HS Trade Codes, 2013     227
Table: Rearranged HS Trade Codes, 2013    229

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