Outlook for China's medical device industry in 2014
1. Domestic high-end medical devices are expected to "counterattack"
In recent years, the demand for medical devices has been rising, and there is an increasingly wide market in the pharmaceutical industry. However, due to the long-term preference of medical institutions for the use of imported equipment and the strict supervision of tenders, some domestic high-end medical devices have suffered discrimination. It is difficult to expand the domestic market.
However, under the policy environment of "new medical reform", the NDRC, the Ministry of Science and Technology and other government departments have invested a large amount of special funds in the research and development of high-end medical devices. At the same time, China will give priority to the procurement of domestic medical devices in the procurement of medical devices. During the "Twelfth Five-Year Plan" period, China will effectively guide medical institutions to use domestic medical devices through economic means. Among the centralized procurement projects currently carried out by the Ministry of Health, the winning equipment is mainly domestically produced. Experts predict that in the future market competition, the share of domestic brands and foreign brands in high-medium and low-end medical equipment in the Chinese medical device market will further change.
In the past 5 years, China's medical device industry has changed a lot. The industry's overall level and market supply capabilities continue to improve. Some imaging diagnostic equipment has been developed from Chinese assembly to Chinese manufacturing or even China's development and production. Domestic vascular stents account for about 80% of the domestic similar product market, and domestic color ultrasound machines account for about 60%.
At present, a number of leading medical device enterprises have emerged in China. For example, Mindray, which specializes in monitors, clinical tests, and digital ultrasound products, Shandong Weigao, which uses disposable medical consumables, orthopedic materials, and heart stents as its fist products, and Neusoft and Lepu.
As of the end of June 2013, there were 84 valid magnetic resonance equipment registration certificates in China, including 53 domestic magnetic resonance system registration certificates and 31 imported magnetic resonance system registration certificates. In domestic magnetic resonance equipment, there are 39 permanent magnetic system registration certificates and 14 superconducting system registration certificates, involving 20 manufacturing companies; among imported magnetic resonance systems, there are 7 permanent magnetic system registration certificates. There are 24 registration certificates for superconducting systems, involving 6 manufacturing companies-it is not difficult to see that the domestic magnetic resonance system is developing rapidly.
On July 25, 2013, the relevant person in charge of the Planning and Information Department of the National Health and Family Planning Commission introduced at the 22nd annual meeting of the China Medical Equipment Association that the state will strictly implement the government procurement law to ensure that financial funds are given priority to purchase domestic medical equipment.
The person in charge said that during the "Twelfth Five-Year Plan" period, the state has invested a lot of money to support the construction of the health and family planning service system. After the construction of the business housing of the health and family planning institutions is completed, a large amount of medical equipment is required, bringing unprecedented opportunities for the development of the medical equipment industry. In order to promote the development and application of domestic medical equipment, the National Health and Family Planning Commission will formulate and improve medical and health equipment standards while guiding procurement, and guide medical and health institutions to rationally configure appropriate medical equipment according to functional positioning; effectively implement market and medical health Institution-oriented needs, give full play to the core role of medical and health institutions in medical equipment, change the situation of production, learning, research, and medical disconnection, further study the ladder configuration management of large medical equipment, guide medical institutions to equip suitable models of equipment, reduce And gradually eliminate the irrational behavior of blindly pursuing high-end equipment. At the same time, it will strengthen communication with medical and health institutions, industry associations and production enterprises, provide policy support in terms of capital and taxation, attract high-level talents to invest in research and manufacturing, and create an excellent policy environment for promoting industry development.
Recently, the China Medical Equipment Association released the "2011-2015 China DR Market Development Analysis Report". The report shows that from 2007 to 2011, China's annual sales of DR equipment increased from 720 to 3294 units, with an average annual compound growth rate of 42.8% In 2011, sales increased by 36.6% compared with the same period of the previous year, and sales in this market showed a rapid increase. Behind this set of data, China's DR equipment market has undergone tremendous changes after nearly 10 years of development. From the beginning of the introduction of products, the situation of monopolizing the market by imported brands has gradually evolved into the current fiercely competitive market structure of domestic and foreign brands.
After more than ten years of development, the current share of imported equipment in the domestic market is about 70%, and the market share of local manufacturers is about 30%. This pattern is still changing quietly. Domestic medical device manufacturers, mainly Anjian Technology, Shenzhen Mindray, and China Resources Wandong, are accelerating the pace of shaking foreign companies' monopoly.
In 2014, can China's high-end medical device companies seize the opportunity to make bold moves with imported medical device companies in terms of technological innovation, talent innovation, service innovation, etc., and win the market to achieve "counterattack"? let us wait and see.
2. The medical device industry structure is expected to increase substantially
2014 will be the opening year for the State Food and Drug Administration to comprehensively deepen the implementation of the "Medical Device Manufacturing Quality Management Standards". The "Medical Device Manufacturing Quality Management Standards Inspection and Evaluation Standards" have also completed public consultation and are expected to be promulgated in March. Implementation.
It can be expected that starting in 2014, the first responsibility of medical device manufacturing enterprises will be further implemented, and the quality and safety awareness and level of manufacturing enterprises will be significantly improved, thereby promoting the structural adjustment and industrial upgrading of the medical device industry and enhancing the quality of medical devices in China Safety assurance capabilities, while effectively solving the overall medical device industry still presents the problems of "many production companies, small enterprise size, low industrial concentration, and weak R & D and innovation capabilities".
3. Local companies accelerate overseas mergers and acquisitions
Since the second half of 2012, the medical device industry has continuously heard the voices of mergers and acquisitions, and there has been a wave of mergers and acquisitions of medical device companies in China and abroad. In the first half of 2013 alone, there were 3 large-scale mergers and acquisitions, and the amount of mergers and acquisitions has also reached new highs. The large-scale capital scale is very rare, and it is no coincidence that these few mergers and acquisitions are overseas mergers and acquisitions initiated by domestic medical device-related companies. Medical device companies are sending a strong signal to domestic and foreign markets that local companies are accelerating overseas mergers and acquisitions in an effort to internationalize and diversify.
Due to special industry attributes and inherent requirements for development, mergers and acquisitions in the medical device industry are imperative:
1) The medical device industry has natural channel exclusivity and variety singularity, and drugs have multiple similar curative varieties under the same disease, while medical devices are relatively single, making it impossible for a single segment to accommodate multiple companies;
2) R & D not only requires high investment like new drug development, but also requires continuity and systematization to meet different environments and needs. Small businesses cannot be guaranteed, and they are gradually being acquired;
3) The concentration of domestic medical devices is extremely low (the difference between different fields is large), and objectively faces a passive choice to increase the concentration; foreign giants seize the market and eliminate opponents through acquisitions, but also force this process;
4) The product business of the medical device industry has low malleability, and the market capacity of a single category is limited, especially the attributes of investment products such as large-scale imaging and radiology, and the update period is longer (8-10 years) .If the company continues to grow, it must open space through mergers and acquisitions .
4. China's wearable medical equipment is the global leader
Compared with wearable electronic devices, the future of wearable healthcare and medical markets is more worthy of attention. Wearable devices can be applied to remote patient monitoring and on-site professional medical care. According to relevant data, the scale of China's mobile medical market reached 1.86 billion yuan in 2012, an increase of 17.7% over the previous year. It is expected that by the end of 2017, China's mobile medical market will exceed 10 billion yuan, reaching 12.53 billion yuan. According to the GSM measurement standard for the mobile medical industry, medical device manufacturers and content and application providers account for about 39.83%. It is estimated that by 2017, the market scale of China's wearable and portable medical devices will be close to 5 billion yuan.
Wearable devices have also attracted the attention of Chinese technology companies and entrepreneurs. Shanda's Nutshell Electronics recently released four products including smart watches and smart rings. Baidu, Xiaomi and some mobile phone manufacturers have also launched wearable products. Wearable devices are expected to take over smartphones and become mobile smart terminal devices that will lead the trend of consumer electronics in the next decade. Figures of wearable devices, and their functions are not limited to detecting sleep, recording motion, etc. Chinese medical device companies are not willing to be lonely, and have invested heavily in research and development of wearable medical equipment, such as mobile medical device listed company Jiu'an Medical's first "previous" wearable watch pedometer will officially land in the European and American markets in the second half of this year
At the just-concluded iCES booth at the 2014 CES in Jiu An Medical, three products were released, namely, ambulatory blood pressure monitor, wireless ambulatory electrocardiogram monitor and wearable pulse oximeter. As the leader of the domestic medical monitoring instrument industry, Polar Light also tries to open up a new world in the field of wearable devices. The company's chairman Yan Jinyuan said that future marketing methods will use "Xiaomi" as the learning object.
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