China's medical device market is large and fast-growing. The size of China's medical device market has increased from RMB 312.6 billion in 2015 to RMB 664.2 billion in 2019, with a compound annual growth rate of 20.7%. It is expected that, driven by the aging population, the rising incidence of chronic diseases, the continuous increase in the number of hospitals and doctors and the increase in affordability, as well as the favorable government policies, China’s medical device market will reach 1.391.9 billion yuan in 2024. The compound growth rate will be 15.9%.
In fact, China's market for minimally invasive surgical instruments and accessories (MISIA) is also developing rapidly. The scale of China’s MISIA market increased from 9.6 billion yuan in 2015 to 18.5 billion yuan in 2019, with a compound annual growth rate of 17.8%. It is estimated that the compound annual growth rate from 2019 will be 17.2%, and the market size will reach 40.8 billion yuan.
With the development of minimally invasive techniques in clinical medicine, the market demand for laparoscopy in my country has grown rapidly, but more than 3/4 of the market is monopolized by foreign brands, and domestic brands have a market share of less than 1/4.
However, laparoscopy in the third world overseas market, mainly in Southeast Asia and South America, is in the emerging stage. It is more price-sensitive and has relatively low product performance requirements. Some domestic companies are targeting overseas low-end markets for sales and opening up increments market.
In recent years, the "surgical procedure" segment represented by minimally invasive surgery will continue to become a growth hotspot and will be an important direction for future medical development. Many disruptive innovative products, such as 3D laparoscopy, are also emerging in the laparoscopic surgery industry. At present, the domestic rigid endoscope industry is rising. Compared with the general imported rigid endoscope and its supporting equipment, there are no major technical problems, and there is a price advantage. However, due to process standards, processing precision, quality stability, and system The current market share is not high due to deficiencies in engineering construction and industry management. While domestic laparoscopy is facing opportunities, it is also facing huge challenges.
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