Medical and Veterinary Instrument Manufacturing Industry in China Industry Research Report – Now Available from IBISWorld
San Francisco, CA (PRWEB) July 24, 2013 -- Over the past five years, revenue for the Medical and Veterinary Instrument Manufacturing industry in China has been increasing at an annualized rate of 19.4% to $11.3 billion in 2013. The industry's main drivers include substantially increasing domestic demand, strong and steady export growth, technology advancements, the development of new products, healthcare sector reforms and the development of China's social security system, says IBISWorld.
Demand for medical and surgical instruments comes directly from medical institutions, mainly hospitals. Demand from hospitals is determined by the number of patients, the types of ailments, conditions or diseases that patients have, and patient insurance levels or ability to pay applicable fees. Currently, the general level of medical charges in China is much higher than people's ability to pay, especially in rural areas. With healthcare system reforms and the development of the social security system, especially the implementation and promotion of the New Rural Cooperative Medical Care System in countryside areas, more people will be able to afford higher medical and related expenditures, creating a greater potential domestic market for the Medical and Veterinary Instrument Manufacturing industry, says IBISWorld.
In 2013, the top four players – Shandong Zibo Shanchuan Medical Instrument, OMRON (China), Double-Dove Group, and Yuyue Medical Equipment – are expected to account for about 21.3% of total industry revenue. This low level is consistent with the industry being in the growth phase of its life cycle. The industry concentration level has shown a declining trend in recent years, mainly due to the development of other companies and the growing number of new entrants to the industry. While the top four players achieved economies of scale, other major players also developed rapidly and gained greater market share.
Common diagnostic tools form the largest product segment in the Medical and Veterinary Instrument Manufacturing industry. These products include thermometers, blood-pressure meters, stethoscopes and pulmonary ergometers. Blood-pressure meters account for the largest output and revenue.
For more information, visit IBISWorld’s Medical and Veterinary Instrument Manufacturing industry in China industry report page.
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IBISWorld Industry Report Key Topics
The Medical and Veterinary Instrument Manufacturing industry manufactures a wide range of medical instruments used for surgery in hospital emergency rooms, treatment rooms, doctors' offices and other medical facilities for operations, medical diagnosis, treatment and other purposes.
Industry Performance
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
Products & Markets
Supply Chain
Products & Services
Major Markets
Globalization & Trade
Business Locations
Competitive Landscape
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
Major Companies
Operating Conditions
Capital Intensity
Key Statistics
Industry Data
Annual Change
Key Ratios
About IBISWorld Inc.
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.
Gavin Smith, IBISWorld, 310 866 5042, [email protected]
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