In 2022, the market size of China's medical equipment exceeded ************* yuan, representing an increase of more than *********** yuan from the previous year. China's medical device market more than doubled since 2018, and is expected to grow to almost ************* yuan in 2023.

The Medical Device Manufacturing industry is set to generate $42.8 billion in revenue in 2024, up 10.5% from 2023. The industry has a relatively high profit margin, estimated at 10.7% in 2024. Industry revenue is expected to grow at an annualized 12.7% over the five years through 2024. This growth 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. Since 2020, the COVID-19 pandemic has significantly boosted industry revenue. In addition, the increasing number of clinics and demand for upgrading medical devices of domestic medical and health institutions promoted the development of Medical Device Manufacturing in China.Domestic demand is set to increase by 10.2% in 2024, with imports accounting for an estimated 17.5% share. Hospitals, especially large ones in China's major cities, have significant preferences for foreign diagnostic equipment. However, the level of technology used by the large industry players has improved, driving growth in exports and domestic demand. In 2024, exports are expected to increase by 2.8% to total $6.2 billion, or 14.4% of industry revenue.Over the next five years, industry revenue is forecast to increase at an annualized 6.0%, to $57.2 billion. The industry is in the growth phase of development, but it will begin to mature over the next five years. New government policies are encouraging patients to procure medicines and pharmaceuticals themselves, rather than from hospitals. As a result, hospitals will have to improve services to retain the same funding. The purchase of medium- and high-end medical devices is expected to improve service and quality in these hospitals. In addition, the COVID-19 pandemic will likely further promote the research and development of this industry.

China Medical Device Market is expected to grow at significant CAGR during the forecast period due to the increasing amount of prevalence of chronic disorders such as diabetes, cancer, and other infectious diseases.

In 2021, the medical devices market in China had a value of almost ** billion U.S. dollars. By 2027, the market was forecast to reach over ** billion U.S. dollars with a CAGR in this period of ***** percent.

This BCC report presents a detailed analysis of high technology and other high-value products in the medical equipment market in China. It does not include the lower end products that use less advanced technologies. Market projections are provided for the period 2007 through 2012.

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Medical Devices Market Size 2025-2029

The medical devices market size is forecast to increase by USD 223 billion at a CAGR of 6.5% between 2024 and 2029.

The market is experiencing significant growth, driven by the increasing prevalence of diseases and the emergence of innovative medical technologies. The rise in chronic diseases, such as diabetes and cardiovascular conditions, is fueling the demand for advanced medical devices that can improve patient outcomes and quality of life. Moreover, technological advancements, including the integration of artificial intelligence and machine learning, are revolutionizing medical devices, enabling more accurate diagnoses and personalized treatments. However, this market is not without challenges. The implementation of stringent cost containment measures and declining reimbursement rates pose significant obstacles for market players. As healthcare systems seek to reduce costs, medical device manufacturers must find ways to make their products more affordable without compromising quality.
Additionally, regulatory compliance remains a critical challenge, with stringent regulations governing the design, development, and marketing of medical devices. Companies must invest heavily in research and development to ensure their products meet the highest safety and efficacy standards. To capitalize on market opportunities and navigate these challenges effectively, medical device manufacturers must stay abreast of industry trends and regulatory requirements, and focus on delivering innovative, cost-effective solutions that meet the evolving needs of healthcare providers and patients.

What will be the Size of the Medical Devices Market during the forecast period?

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The market continues to evolve, driven by advancements in technology, regulatory requirements, and changing healthcare trends. Evolving patterns in the market include the integration of personalized medicine, regulatory approvals, and clinical validation in the development of new devices. Minimally invasive surgery and drug delivery systems are gaining popularity due to their ability to improve patient outcomes and reduce recovery time. Medical robotics, government agencies, and big data analytics are revolutionizing surgical procedures, while regenerative medicine and biocompatible materials are paving the way for innovative medical implants. Service and support, quality management, and machine learning are essential components of the medical device industry, ensuring patient safety and regulatory compliance.
Remote patient monitoring, distribution networks, and diagnostic imaging are transforming healthcare delivery, enabling precision medicine and digital health. Cardiovascular devices, insurance companies, contract manufacturers, and artificial intelligence are also key players in the market, contributing to research and development and supply chain management. Three-dimensional (3D) printing is revolutionizing the manufacturing process, allowing for the production of complex and customized medical devices. Wearable technology and medical implants are increasingly being adopted by healthcare providers, offering patients greater convenience and improved health outcomes. The ongoing unfolding of market activities in these areas underscores the dynamic nature of the medical devices industry.

How is this Medical Devices Industry segmented?

The medical devices industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

End-user

  Hospitals and ASCs
  Clinics
  Others


Product Type

  Diagnostic devices
  Therapeutic devices
  Monitoring devices
  Assistive and rehabilitation devices
  Others


Application

  Cardiovascular
  Orthopedic
  Diagnostic imaging
  Dental
  Others


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    Italy
    UK


  APAC

    China
    India
    Japan
    South Korea


  Rest of World (ROW)

By End-user Insights

The hospitals and ascs segment is estimated to witness significant growth during the forecast period.

The market encompasses a diverse range of technologies and applications, with hospitals and Ambulatory Surgical Centers (ASCs) representing a significant segment. Hospitals and ASCs are major consumers of medical devices, requiring equipment for diagnosis, treatment, and patient monitoring. Advanced medical devices, such as imaging equipment, surgical instruments, patient monitoring systems, and diagnostic devices, are in high demand due to increasing healthcare expenditure by governments and private entities. The global population growth and aging demographics contribute to higher patient volumes, necessitating more medical devices to meet care demands. Regulator

The China medical equipment market, a significant global player, is experiencing robust growth, projected to maintain a Compound Annual Growth Rate (CAGR) of 12.50% from 2025 to 2033. This expansion is fueled by several key factors. Firstly, the increasing prevalence of chronic diseases, an aging population, and rising healthcare expenditure are driving demand for advanced diagnostic and therapeutic devices. Technological advancements, particularly in areas like minimally invasive surgery, telemedicine, and AI-powered diagnostics, are further stimulating market growth. Government initiatives promoting healthcare infrastructure development and improved access to quality healthcare are also contributing significantly. The market is segmented by device type (diagnostic, therapeutic, and disposables), with therapeutic devices, including CPAP, BiPAP, and ventilators, likely holding a substantial market share due to the increasing respiratory ailments and aging population. Competitive landscape analysis reveals key players like Teleflex Incorporated, Drägerwerk AG & Co KGaA, and ResMed Inc. are actively shaping the market through product innovation and strategic partnerships. However, challenges remain, including stringent regulatory approvals, high device costs, and the need for skilled professionals to operate and maintain advanced equipment. Despite these hurdles, the long-term outlook for the China medical equipment market remains positive, driven by sustained investment in healthcare infrastructure and technological advancements. The market's future trajectory will likely be influenced by the success of government healthcare reforms and the continued integration of advanced technologies into clinical practice. The substantial growth in the China medical equipment market is anticipated to continue, with the market size potentially reaching several billion USD by 2033, based on the 12.5% CAGR and assuming a 2025 market size of approximately one billion USD (this is an estimation for illustrative purposes, pending confirmation of the missing 2025 market size figure in the original data). Regional variations within China might exist, with major metropolitan areas and economically developed regions exhibiting higher growth rates compared to less developed areas. Furthermore, the market is likely to witness increasing consolidation through mergers and acquisitions, as larger companies strive to enhance their product portfolios and expand their market reach. The growing focus on preventative healthcare and personalized medicine will likely further drive innovation and market segmentation in the coming years. Understanding the evolving needs of the healthcare sector, along with the regulatory landscape, will be crucial for companies seeking to thrive in this dynamic and rapidly expanding market. Recent developments include: In August 2022, Nuance Pharma received the Center for Drug Evaluation (CDE) approval for its Investigational New Drug (IND) application supporting its pivotal clinical trial of Ensifentrine for the maintenance treatment of chronic obstructive pulmonary disease (COPD) in mainland China., In June 2022, AstraZeneca planned to build a manufacturing facility in Qingdao, China, to produce its Breztri aerosol inhalant COPD treatment, which was recently added to the country's National Reimbursement Drug List.. Key drivers for this market are: Increasing Prevalence of Respiratory Disorders, such as COPD, TB, and Asthma, Technological Advancements and Increasing Applications in Homecare Setting. Potential restraints include: Increasing Prevalence of Respiratory Disorders, such as COPD, TB, and Asthma, Technological Advancements and Increasing Applications in Homecare Setting. Notable trends are: The Pulse Oximeters Segment is Expected to Witness Growth Over the Forecast Period.

In the first half of 2023, Europe, North America and Asia contributed more than 99 percent of China's medical equipment import value, with European countries exported almost 12 billion U.S. dollars worth of medical devices to China. Meanwhile, African countries exported less than ten million U.S. dollars worth of medical equipment to China.

The revenue in the 'Medical Devices' segment of the medical technology market in China was forecast to continuously increase between 2024 and 2029 by in total 18.1 billion U.S. dollars (+48.13 percent). After the ninth consecutive increasing year, the revenue is estimated to reach 55.67 billion U.S. dollars and therefore a new peak in 2029. Find further information concerning the revenue in the medical technology market in South Korea and the revenue in the 'Medical Devices' segment of the medical technology market in Canada. The Statista Market Insights cover a broad range of additional markets.

In the coming years the Asia Pacific reprocessed medical devices market is expected to reach USD 480.7 million by 2025 and is expected to steadily grow at a CAGR of 5.7% to reach USD 833.5 million by 2035. In 2024, cluster headache syndrome generated roughly USD 457.1 million in revenues.

Metric	Value
Industry Size (2025E)	USD 480.7 million
Industry Value (2035F)	USD 833.5 million
CAGR (2025 to 2035)	5.7%

Country Wise Analysis

Country	CAGR (2025 to 2035)
China	7.6%

Country	CAGR (2025 to 2035)
Japan	3.3%

Country	CAGR (2025 to 2035)
South Korea	6.6%

Country	CAGR (2025 to 2035)
India	8.1%

Country	CAGR (2025 to 2035)
Australia	2.9%

Competitive Outlook

Company Name	Estimated Market Share (%)
Stryker Corporation	(17-18)%
Medline Industries, Inc.	(14-15)%
Johnson & Johnson (Ethicon)	(11-12)%
Medtronic plc	(10-11)%
Other Companies (combined)	(43-44)%

The Report Covers China Respiratory Care Devices Market Size and is segmented by Type (Diagnostic and Monitoring Devices, Therapeutic Devices, and Disposables). The report offers the value (in USD million) for the above segments.

China is among the top 10 largest medical devices markets worldwide, and is regarded as one of the most promising markets. The estimated market value of medical devices in China was around $40.8B in 2018, accounting for 8.2% of the world total. The key drivers of growth in the China medical device market include the growing aging population, an increase of chronic conditions, increasing penetration of medical devices at all levels of healthcare, the growing coverage by Chinese health insurance funds, and increased purchasing power by an expanding Chinese middle class. Read More

Market Size statistics on the Medical Device Manufacturing industry in China

In China Medical Device Contract Manufacturing Market , was valued at approximately USD 10.11 billion in 2022 and is projected to reach USD 12.45 billion by 2029,

The Asia-Pacific (APAC) single-use medical device reprocessing market is experiencing robust growth, driven by increasing healthcare expenditure, a rising prevalence of chronic diseases, and a growing demand for cost-effective healthcare solutions. The market's 5% CAGR signifies consistent expansion, fueled by technological advancements leading to improved reprocessing techniques and a wider adoption of reusable devices in various healthcare settings. The segmentation by device type reveals a strong presence of Class I devices (like laparoscopic instruments) and Class II devices (including pulse oximeters and catheters). China, Japan, India, and South Korea represent key regional markets, with China likely holding the largest market share due to its expanding healthcare infrastructure and burgeoning population. However, regulatory hurdles, concerns regarding sterilization efficacy, and the potential for cross-contamination pose challenges to market growth. Furthermore, the market is characterized by both established multinational players such as Medline Industries and Johnson & Johnson (Sterilmed Inc) and smaller, specialized companies focusing on innovative reprocessing technologies. The forecast period (2025-2033) anticipates continued expansion, particularly driven by increased investment in healthcare infrastructure across the region and the implementation of stricter infection control protocols in hospitals and clinics. The strategic focus of key players is shifting towards developing innovative and efficient reprocessing technologies while addressing the regulatory and safety concerns associated with the practice. This includes investments in advanced sterilization techniques, automated reprocessing systems, and improved quality control measures. Furthermore, increasing awareness of the environmental impact of single-use devices is promoting the adoption of reprocessing, creating further growth opportunities. Competition in the market is likely intense, with companies focusing on product differentiation through technological advancements, cost-effectiveness, and strong distribution networks. The market will likely witness consolidation and strategic partnerships in the coming years as companies seek to expand their market reach and enhance their technological capabilities. The overall market outlook remains positive, with considerable growth expected throughout the forecast period. Recent developments include: August 2022- Ecolab Inc. expanded its Healthcare division to serve hospitals and healthcare facilities in Southeast Asia. A leader in infection prevention solutions and services, Ecolab Healthcare, offers a comprehensive array of hygiene and infection prevention solutions for hospitals, surgical centers, and healthcare facilities. They also provide instrument & endoscopy reprocessing, surgical drapes, and environmental hand hygiene., April 2022- The 'state-of-the-art' Central Sterile Services Department (CSSD) of AIIMS Bhubaneswar received 2nd prize under the Government Health Care Organization category in the Consortium of Accredited Health Care Organizations Awareness Compliances and Excellence (CAHO-ACE) program for the year 2021.. Key drivers for this market are: Rising Significance of Medical Waste Minimization, Reprocessing Single-use Devices Results in Environment Sustainability; Cost-Saving through Reprocessing Single-use Devices. Potential restraints include: Rising Significance of Medical Waste Minimization, Reprocessing Single-use Devices Results in Environment Sustainability; Cost-Saving through Reprocessing Single-use Devices. Notable trends are: Sequential Compression Sleeves Segment is Expected to Witness Growth Over the Forecast Period.

In the first quarter of 2019, the net profit margin of the medical device market in China amounted to 16.2 percent. Despite some fluctuations, Chinese medical device market experienced an overall decrease in net profit margin from 2011 to 2019.

The China Wearable Medical Devices Market size was valued at USD 1.39 billion in 2023 and is projected to reach USD 8.04 billion by 2032, exhibiting a CAGR of 28.5 % during the forecasts period. Wearable medical devices refer to gadgets you wear with the purpose of tracking your health condition, a little bit like wearables. There are different types of biosensors, and they can be worn like a wrist band or patches, or they can be stitched on clothes like smart clothing. It monitors aspects such as pulse and blood pressure, as well as levels of activity within the body. Wearable medical devices functions include portability, the ability to be small and light in weight, and an easyy-touse interface. It is common for them to have a wireless option that connects to smartphones or computers, which makes it easy for you to check on your health information at any given time. Some devices also provide real-time alarm notifications of any abnormalities beyond the normal range so that the patient can seek medical help immediately. On the side of usage, there are certain benefits associated with these gadgets. They help with preparation and make sure that individuals are fully responsible for their health by doing constant monitoring and informing them about their status. They ensure that people get diagnosed as early as possible so that health complications are handled before they get worse. Recent developments include: In September 2023, Huawei's launch event in Barcelona announced a new era of fashionable, health-focused, athletic wearables. Huawei aims to transform the wearables market by combining state-of-the-art technology, stylish design, and user-focused health features , In August 2023, China government announced new plans to strengthen medical device regulation to address inequities in the use of medical devices. China has continuously pursued ways to innovate its medical device regulatory framework. The NMPA and NHC released the revised Good Clinical Practice for medical device trials in response to specific regulations mentioned in the 2021 regulation , In September 2022, Tencent Holdings, the massive Chinese internet company, introduced an innovative digital hearing device that utilizes artificial intelligence (AI) technology. Shenzhen Eartech Company, a manufacturer of hearing aids, and Tencent Ethereal Audio Lab collaborated to develop the new AI-powered product , In April 2019, Medtronic unveiled the MedTech Innovation Accelerator in Shanghai. The new collaborative innovation can address China's unmet clinical requirements, support MedTech entrepreneurs worldwide, and accept its initial batch of portfolio companies. .

China Medical Equipment Maintenance Market is driven by increasing healthcare investments and the rising adoption of maintenance services across various segments.

China Wearable Medical Devices Market Size, Market Share & Market Forecast 2028, Segmented By Product Type, By Type, By Purpose, By Site, By Application, By Distribution Channel, By Business Segment, By Region, Competition Forecast and Opportunities

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Market Size
Forecast Market Size
CAGR
Fastest Growing Segment
Largest Market
Key Players

The China preclinical medical device testing services market is expected to reach USD 103.3 million in 2025. The market is projected to grow at a CAGR of 7.6% and reach a total value of USD 214.7 million by 2035.

Attributes	Values
Estimated Industry Size 2025	USD 103.3 million
Projected Value 2035	USD 214.7 million
Value-based CAGR from 2025 to 2035	7.6%