DUBLIN–(BUSINESS WIRE)–The “China Medical Supplies Market, By Type, By Application, By End User, Estimation & Forecast, 2017 – 2027” report has been added to ResearchAndMarkets.com’s offering.
The China medical supplies market apprehended a market value of USD 53,963.2 million in 2021 and is projected to reach USD 73,228.7 million by the year 2027. The market is projected to list a CAGR of 5.2% during the forecast period.
The medical supplies business in China is expected to grow at an extensive rate owing to the increasing demand at the supply end for disposable medical products, as well as other supplies. Moreover, the rising preference rates and applications of medical products in management and treatment of several diseases fuels the growth rate of the market significantly.
On the other hand, the medical supplies business in China is projected to get hampered by the stringent regulations in the country. Also, the regulations are volatile in nature which is estimated to create a level of uncertainty in the marketspace.
Growing Healthcare Expenditure coupled with Rising Geriatric Population
The increasing healthcare expenditure in China favors the growth rate of the medical supplies market. according to the World Bank statistics, in 2018, the healthcare expenditure as a percent of GDP was 5.35%, whereas in 2017, the rate was 5.15%.
Moreover, the increasing ageing population in China contributes towards the rise in the growth rate of the medical supplies market. For instance, China’s seventh population census indicates that China’s 2020 population stood at 1.4118 billion. in which there are 264 million people aged 60 Thus, such measures contribute towards the growth rate.
Effective Measures of Government to Ensure Crucial Medical Supplies to Hebei Province
Amidst the pandemic outbreak, in January 2021, the Chinese transport and public security authorities rolled out emergency measures to ensure steady transport of essential supplies to Beijing and North China’s Hebei Province. The Ministry of Transport (MOT), the Ministry of Public Security and the State Post Bureau mentioned that all measures would be taken to safeguard smooth passage of trucks carrying supplies for anti-virus efforts in Hebei. Thus, such effective measures fuel the growth rate of the Chinese medical supplies market.
The sterilization consumables segment is expected to be the fastest growing segment with a growth rate of 7.2% during the anticipated period. The catheters segment held the largest market share of 14% in 2021. The diagnostic supplies segment is estimated to hold an opportunity of USD 2,017.6 million during the period of 2021 to 2027. Moreover, the radiology consumables segment is estimated to cross the market value of USD 2,000 million by 2024.
The respiratory segment is anticipated 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 projected to cross the mark of USD 10,000 million by 2025.
By End User
The ambulatory surgical centres segment is expected to grow at the highest CAGR of 6.6%, whereas the clinics segment is projected to hold an opportunity of USD 3,145.6 million during 2021-2027. The hospitals segment held the largest market share of more than 50% in 2021 owing to the extensive use of medical supplies in Chinese hospitals.
The China medical supplies market is expected to grow extensively during the forecast period owing to the mounting strategic developments by the firms operative in the marketspace. The cumulative research and development initiatives and investments, coupled with the rising geriatric population, huge pool of acute and chronic diseases. The high growth rate also contributes owing to the rising adoption of medical supplies in China.
The China medical supplies market report answers questions such as:
- What is the market size and forecast of the China medical supplies market?
- What are the inhibiting factors and impact of COVID-19 on the China medical supplies market during the assessment period?
- Which are the types/segments/applications/areas to invest in over the assessment period in the China medical supplies market?
- What is the competitive strategic window for opportunities in the China medical supplies market?
- What are the technology trends and regulatory frameworks in the China medical supplies market?
- What is the market share of the leading players in the China medical supplies market?
- What modes and strategic moves are considered favorable for entering the China medical supplies market?
Key Topics Covered:
Chapter 1. Research Framework
Chapter 2. Executive Summary: China Medical Supplies Market
Chapter 3. China Medical Supplies Market Overview
Chapter 4. Competition Dashboard
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. Company 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 about this report visit https://www.researchandmarkets.com/r/qg1w49
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