In 2023, China’s medical device industry is expected to grow by 16% year on year.
Release date:
2023-11-28
According to an AI news brief from Every Economy, a representative of the China Federation of Logistics and Purchasing stated today (the 26th) at the Ninth Medical Device Supply Chain Annual Conference that, since the beginning of this year, rigid demand for health services has gradually been unleashed, and the healthcare sector has shown strong signs of recovery. With the continued deepening of the “Healthy China” initiative, coupled with the ongoing aging of China’s population and the growing demand for diversified medical services, the country’s medical device industry has maintained a sustained momentum of rapid growth.
According to the industry development report released today by the Medical Device Supply Chain Branch of the China Federation of Logistics and Purchasing, China’s medical device industry is projected to reach a market size of RMB 1.25 trillion in 2023, up 16% year on year, while the distribution market is expected to hit RMB 1.45 trillion, growing 13% compared with the previous year. Online sales of medical devices are expanding rapidly, with digital healthcare reshaping the value of traditional distribution channels and accelerating digital transformation and the deployment of “Internet Plus” business models. As of the end of October 2023, there were 837 third-party online platforms for trading medical devices, a 38% increase over 2022. (CCTV News)
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