Global Bio Medical (Shandong) Co., Ltd

Analysis of global medical device market sales scale in 2020

The medical device industry is a multidisciplinary and technology-intensive industry. The multidisciplinary intersection is reflected in multiple disciplines involving polymer materials, life sciences, and clinical medicine; the technology intensiveness is reflected in the joint application of multiple technologies such as medicine, machinery, and materials in its production technology. Because it is related to human life and health, it is an important part of the construction of the medical and health system and has a high strategic position. The degree of development of the medical device industry has become an important indicator to measure a country's scientific and technological level and national modernization level. This industry has become one of the important components in modern clinical medicine, disease prevention and control, public health and health security system, and has formed an industry with broad market and stable demand.


1. Current status of international industry


With the economic development, population growth, social aging, and people's increasing awareness of health care, the global medical device market demand continues to grow rapidly. The medical device industry is one of the fastest growing industries in the world today. According to the statistics of the European Commission for 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 a compound annual growth rate of 7.35%, and the global medical device market growth rate exceeded GDP for the same period The increase is about twice that of the latter.


Global medical device market sales scale from 2004 to 2014



Source: public data collation


From the perspective of the global market structure, after long-term development in developed countries in Europe and America, the medical device industry has entered a mature period and has formed a huge sales network.


The United States is the world's largest medical device market. The world's leading medical device companies gather here. Together with the leading technology level and capital intensity, the region's market leading position is unshakable. The EU is the second largest medical device market in the world after the US. As of the end of 2014, the population of the 28 EU countries reached more than 508 million, and the region has a good economic foundation and strong medical device consumption capabilities, and the market still has an embedded driving force. The Asia-Pacific medical device market represented by China is currently the medical device market with potential in the world. According to statistics, from 2009 to 2012, the annual average compound annual growth rate of the medical device market in the Asia-Pacific region reached 10.2%, which was higher than the global average, and its share in the global medical device market will increase significantly. Although currently developing countries are mainly engaged in the processing and production of medical devices, the profit margin is relatively low. However, with the advancement of technology and the development of the manufacturing industry, and the vast market brought about by the huge population base, the future market prospects are very broad.


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