2013-09-02 10:38:49 - New Medical Devices research report from Espicom Business Intelligence is now available from Fast Market Research
OVERVIEW OF THE MEDICAL MARKET IN CHINA
China ranks as the largest economic power of the Asia Pacific region with a projected GDP of US$9.1tn in 2013. In terms of GDP per capita, it is considerably lower at US$6,676 in 2013, owing to its large population. Moreover, the country is divided into a relatively wealthy eastern coastal belt - consisting of Tianjin, Shandong, Jiangsu, Shanghai, Zhejiang, Fujian and Guangdong provinces and much poorer, underdeveloped regions in the interior and the west. Although the government has undertaken massive development plans to address these imbalances, and new factories are gradually being built further inland, this will be a long drawn-out process in a country of China's size.
The Chinese government has launched a health
reform programme that aims to create a solid platform for universal healthcare access for all by 2020. Phase 1 of the programme committed CNY850bn (US $124bn) to develop the country's healthcare system, whilst phase 2 proposes investment of CNY400bn (US$63.5bn) is to be invested in the healthcare system through to 2020.
Full Report Details at
The prospects for medical device spending is huge; the government has committed heavily to the construction of thousands of hospitals, healthcare centres, clinics and this will inevitably lead to spending on capital goods, most notably medical devices, equipment and furniture at an unprecedented rate in a relatively short space of time. In 2012, the central government alone invested CNY 24.3bn (US$3.9bn) to improve health service infrastructure.
The medical device market is estimated at just under US$17.1bn in 2013. This makes China the fourth largest market in the world and the second largest in Asia behind Japan. In per capita terms, however, the market is far from rich. Per capita spending in 2013 is estimated at US$12.6. For the 2013-18 period, Espicom estimates market growth will continue to average 20% per annum in local currency, equivalent to a US dollar CAGR of 18.7%, making China one of the fastest growing markets in the world. High rates of growth are not uncommon in the Asian region, but on the back of a huge market size, China's growth is particularly pronounced.
Imports have grown very strongly during recent years, rising by 20.7% in 2012 to reach US$10,329.0mn.
All product categories posted strong growth during the period led by orthopaedic & prosthetic products.
PROVIDING STRATEGIC MARKET ANALYSIS EVERY MONTH
Espicom's highly-regarded world medical technology and device market research reports provide enhanced strategic intelligence in a user-friendly format. Each report provides in-depth information, setting the medical equipment market in context. The reports provide:
Unique projected estimates of market size and growth for 33 equipment categories
Five year statistical data for key economic and healthcare indicators
Information on regulation, distribution and market access, including Espicom's unique distributor directory
Detailed Medical trade data
Data on leading local/multinational medical equipment players in the market
MAKING YOUR MARKET RESEARCH INVESTMENT WORK WITH POWERFUL ONLINE TOOLS
At no additional cost, all customers get access to Espicom Interactive. This advanced online service is easy-to-use and contains practical and valuable tools which will save you hours of time and effort.
Full text cross file searching with fast response or intuitive "drill down" into the content
Presentation-ready tables and graphics with "one click" output to other packages such as MS Excel and MS PowerPoint
View all tables and graphs independently from the text
Split screen for more efficient working
Instant machine translation into nine languages
A "Cut your own" report building feature
WITH THIS MARKET REPORT YOU CAN
Evaluate the potential of the market
Assess risks and opportunities on the basis of knowledge
Profile the market for new product, licences or collaborations
Understand the operating and regulatory environment
Gain a complete picture on health expenditure and infrastructure
Review the competitive environment
The Medical Device Market Bangladesh
The Medical Device Market Hong Kong
For more information please click on the link to our Medical Market Reports page
About Espicom Business Intelligence
Espicom Business Intelligence is a highly-regarded and established provider of business intelligence services. Founded in 1982 as MDIS Publications Ltd, the company changed its name to Espicom in 1992. Initially a publisher in a wide range of industries such as power generation and telecommunications, they now focus on the global pharmaceutical and medical device sectors. View more research from Espicom Business Intelligence at www.fastmr.com/catalog/publishers.aspx?pubid=1025
About Fast Market Research
Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available.
For more information about these or related research reports, please visit our website at www.fastmr.com
or call us at 1.800.844.8156.