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Analysis of sales scale of global medical device market in 2017

Issuing time:2019-12-17 00:00

Medical device industry is a multi-disciplinary, technology intensive industry. The interdisciplinary is reflected in its involvement in polymer materials, life science, clinical medicine and other disciplines; the technology intensive is reflected in its production technology involving the common use of medicine, machinery, materials and other technologies, which is a typical high-tech industry. Because it is related to human life and health, is an important part of the construction of medical and health system, has a high strategic position. The development degree of medical device industry has become an important indicator to measure the level of science and technology of a country and the level of national modernization. The industry has become an important part of modern clinical medicine, disease prevention and control, public health and health security system, and has formed a broad market and stable demand industry.

1. Current situation of international industry

With the development of economy, the growth of population, the improvement of social aging and the enhancement of people's health care awareness, the global market demand for medical devices continues to grow rapidly, and the medical device industry is one of the fast-growing industries in the world. According to the statistics of the European Commission on medical devices, the total sales volume of the global medical device market has rapidly increased from US $246.8 billion in 2004 to US $501.8 billion in 2014, with an annual compound growth rate of 7.35%. The growth rate of the global medical device market exceeds the GDP growth rate of the same period, the former is about twice that of the latter.

Sales scale of global medical device market in 2004-2014

Source: public data sorting

From the perspective of global market pattern, the developed countries in Europe and America have entered a mature period and formed a huge sales network after a long-term development.

The United States is the world's top medical device market, where the world's leading medical device enterprises gather, together with the leading level of science and technology and capital intensity, all make the region's market leading position unshakable. The European Union is the second largest medical device market in the world after the United States. By the end of 2014, the population of 28 countries in the European Union had reached over 508 million, and the region has a good economic foundation, strong consumption capacity of medical devices, and the market still retains the internal driving force. At present, the Asia Pacific Medical Device Market represented by China is a potential medical device market in the world. According to statistics, from 2009 to 2012, the annual average compound annual growth rate of the Asia Pacific Medical device market reached 10.2%, higher than the global average level, and the share of the global medical device market will be significantly increased. Although at present, developing countries are mainly engaged in the processing and production of medical devices, with low profit margin. But with the progress of science and technology, the development of manufacturing industry, and the vast market brought by the huge population base, the future market prospect is very broad.

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