Dublin, April 27, 2022 (GLOBE NEWSWIRE) — The “China Medical Supplies Market, by Type, by Application, by End User, Estimate & Forecast, 2017-2027” report has been added to from ResearchAndMarkets.com offer.
The Chinese medical supplies market apprehended a market value of USD 53,963.2 million in 2021 and is expected to reach USD 73,228.7 million by 2027. The market is expected to grow at a CAGR of 5.2% during the period forecast.
The medical supplies industry in China is expected to grow at a steady pace owing to the growing supply-side demand for disposable medical products, as well as other supplies. Additionally, the growing preference rates and applications of medical products in the management and treatment of several diseases are significantly fueling the growth rate of the market.
On the other hand, the medical supplies industry in China is expected to be hampered by the strict regulations in place in the country. In addition, regulations are volatile in nature, which should create a level of uncertainty in the market.
Growth in healthcare expenditure coupled with the increase in the geriatric population
Rising healthcare spending in China is supporting the growth rate of the medical supplies market. according to World Bank statistics, in 2018 health expenditure as a percentage of GDP was 5.35%, while in 2017 the rate was 5.15%.
Moreover, the increasing aging of the population in China is contributing to the increase in the growth rate of the medical supplies market. For example, the seventh population census of China indicates that the population of China in 2020 was 1.4118 billion. in which there are 264 million people aged 60. Thus, such measures contribute to the growth rate.
Government’s Effective Measures to Ensure Critical Medical Supplies to Hebei Province
Amid the pandemic outbreak, in January 2021, China’s transportation and public security authorities implemented emergency measures to ensure regular transportation of essential supplies to Beijing and Hebei Province (north of China). The Ministry of Transportation (MOT), Ministry of Public Security and State Post Bureau said all measures would be taken to ensure the smooth passage of trucks carrying supplies for anti-virus efforts in Hebei. . Thus, such effective measures fuel the growth rate of China’s medical supplies market.
Presentation of the segments:
The sterilization consumables segment is expected to be the fastest growing segment with a growth rate of 7.2% over the forecast period. The catheters segment held the largest market share of 14% in 2021. The diagnostic supplies segment is expected to hold an opportunity of USD 2,017.6 million during the period of 2021 to 2027. Additionally, the diagnostic supplies segment radiology consumables is expected to surpass the market value of $2,000 million by 2024.
The respiratory segment is expected to grow at the highest rate of 6.9% during the forecast period. The cardiology segment held the largest market share of over 30% in 2021. The wound care segment is expected to cross the USD 10 trillion mark by 2025.
Per end user
The outpatient surgical center segment is expected to grow at the highest CAGR of 6.6%, while the clinic segment is expected to hold an opportunity of USD 3,145.6 million during the period 2021-2027. The hospital segment held the largest market share of more than 50% in 2021 owing to heavy usage of medical supplies in Chinese hospitals.
China medical supplies market is expected to witness high growth over the forecast period owing to increasing strategic developments by companies operating in the market. The cumulative initiatives and investments in research and development, coupled with the increase in the geriatric population, constitute a huge pool of acute and chronic diseases. The high growth rate is also contributing due to the increasing adoption of medical supplies in China.
The Chinese medical supplies market report answers questions such as:
- What is the market size and forecast of the Chinese medical supplies market?
- What are the inhibiting factors and impact of COVID-19 on China medical supplies market during the assessment period?
- What are the types/segments/applications/areas to invest in during the assessment period in China medical supplies market?
- What is the competitive strategic window for opportunities in China medical supplies market?
- What are the technological trends and regulatory frameworks in the Chinese medical supplies market?
- What is the market share of the major players in the Chinese medical supplies market?
- What modes and strategic moves are considered favorable for entering the Chinese medical supplies market?
Main topics covered:
Chapter 1. Research framework
Chapter 2. Executive Summary: China Medical Supplies Market
Chapter 3. China Medical Supplies Market Overview
Chapter 4. Competition Scoreboard
Chapter 5. China Medical Supplies Market Analysis – By Type
Chapter 6. China Medical Supplies Market Analysis, By Application
Chapter 7. China Medical Supplies Market Analysis, By End User
Chapter 8. Business Profiles
- China Hua Mei Industrial Co., Ltd.
- Guangzhou Maya Medical Equipment Co., Ltd.
- Hangzhou Trifanz Medical Device Co., Ltd.
- MEDHEALTH BIOTECHNOLOGY LTD
- Qingdao Agna Medical Technology Co., Ltd.
- SHANDONG LIKANG MEDICAL EQUIPMENT TECHNOLOGY CO., LTD.
- Shanxian Huayu Suture Materials Co., Ltd.
- SHENZHEN CICD TECHNOLOGIES LTD.
- Weifang Huaxing Medical Instruments Co.,Ltd.
- Yangzhou Super Union Medical Material Co., Ltd.
- Nanjing Vedeng Medical Co., Ltd.
- Hanchuan Fumo Plastics Co.,Ltd.
For more information on this report, visit https://www.researchandmarkets.com/r/s1ea0g