Imports still account for over half of domestic demand.
San Francisco, CA (PRWEB) September 11, 2013
The Medical Device Manufacturing industry in China is set to generate $9.3 billion in 2013, reflecting an annualized growth rate of 14.0% over the past five years. Strong industry performance 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, says IBISWorld.
Industry imports still account for over half of domestic demand, as hospitals, especially large ones in China's developed cities, significantly prefer foreign diagnostic equipment. However, the level of technology used by the largest domestic medical device manufacturers is improving and export growth is strong, says IBISWorld. In addition, technologically advanced foreign companies are well established in this industry, which will continue to lower the need for imports over time.
In 2013, the top four players in the Medical Device Manufacturing industry – GE Healthcare, Shenzhen Mindray Bio-Medical Electronics, Siemens, and China Medical Solutions Group – account for a combined 46.7% of industry revenue. This medium concentration level will increase as the industry moves into the mature phase of its life cycle, with larger participants acquiring smaller companies with fewer resources, says IBISWorld. Small companies will also exit this industry or move into other industries because of increasingly intense competition.
For more information, visit IBISWorld’s Medical Device Manufacturing in China industry report page.
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IBISWorld Industry Report Key Topics
Firms in the Medical Device Manufacturing industry in China manufacture medical diagnosis equipment, medical monitoring equipment and medical treatment equipment. Industry products include computerized tomography (CT), magnetic resonance imaging (MRI), ultrasound and other medical equipment.
Key External Drivers
Industry Life Cycle
Products & Markets
Products & Services
Globalization & Trade
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
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Recognized as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every US industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.