China Medical Supplies Market value was US$ 53,963.2 Mn in 2021 and is estimated to reach US$ 73,228.7 Mn by 2027, growing at a CAGR of 5.2% during the projection period from 2022 to 2027.
China being the major exporter of medical supplies is witnessing significant growth during the forecast period. China plays a significant role in the global supply chain for medical supplies, including personal protective equipment (PPE), medical devices, antibiotics, and active pharmaceutical ingredients. The market in China is growing due to the growing healthcare expenditure coupled with the rising geriatric population and effective measures of the government to ensure crucial medical supplies.
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China’s booming population is directly impacting the healthcare sector, leading to a significant increase in healthcare expenditure. This rise in spending is consequently fueling the growth of the medical supplies market. The healthcare industry in China is currently undergoing rapid expansion, driven by various factors such as increasing incomes, growing health consciousness, and a steadily aging population. To put things into perspective, as of November 15, 2023, the population of China stands at a staggering 1,425,486,438, according to Worldometer data. Looking ahead, it is projected that by 2040, the elderly population will reach a staggering 402 million, representing approximately 28% of the total population. Recognizing the importance of healthcare, the government has made it a priority policy area, aiming to bridge any gaps in healthcare services and meet the escalating demand.
The national prevalence of chronic diseases in China was found to be 81.1%, indicating that approximately 179.9 million older adults in China are affected. The prevalence of chronic diseases showed an increasing trend with age, reaching its peak among individuals aged 80 to 84 years, which aligns with findings from studies conducted in other developing countries. Chronic diseases were found to be highly prevalent among older adults in China and exhibited regional variations. Interestingly, the impact of advanced socioeconomic status on the prevalence of chronic diseases was found to be two-fold. As a result, the growing incidence of chronic diseases is expected to drive the demand for medical supplies, thereby boosting market revenue.
An Analysis of Market Revenue Growth
China’s Hospitals as the Backbone of Health Systems
County hospitals play a pivotal role in China’s healthcare system, catering to more than half of the country’s population. Enhancing the medical capacity of these hospitals has been a crucial aspect of China’s healthcare reforms since 2009. The Chinese government has demonstrated its effectiveness in ensuring the provision of essential medical supplies to Hebei Province during the COVID-19 pandemic. The government’s adaptability and swift response to the severity of the disease have further accelerated the growth of the medical supplies market.
Ensuring Smooth Transport of Essential Supplies During the Pandemic
In January 2021, the Chinese transport and public security authorities implemented emergency measures to facilitate the uninterrupted transportation of vital supplies to Beijing and Hebei Province in North China. The Ministry of Transport (MOT), the Ministry of Public Security, and the State Post Bureau jointly announced their commitment to ensuring the smooth passage of trucks carrying supplies for the anti-virus efforts in Hebei. These effective measures have significantly contributed to the growth rate of the Chinese medical supplies market.
Addressing Dengue Outbreak with Donated Medical Supplies
China recently provided critical medical supplies to tackle the country’s dengue endemic. This donation was in response to a government request for medical kits to combat an unprecedented dengue outbreak. The consignment includes modern blood component separation machines, advanced blood collection and storage bags, and dengue test kits. Such investments and efforts in bolstering medical supplies are expected to drive substantial revenue growth in the Chinese market.
In conclusion, China’s focus on strengthening county hospitals, effective measures during the COVID-19 pandemic, and donations to combat dengue outbreaks are all contributing to the significant increase in the revenue of the medical supplies market in China.
China: The Major Exporter Building its Dominance in the Overall Market
China has strategically established a thriving and cost-effective industry for the production of masks, testing kits, and other essential health gear. This initiative has propelled China to a dominant position in the market for protective and medical supplies. The Chinese government has played a crucial role in supporting and protecting this industry, offering various incentives such as affordable land, loans, and subsidies.
One key factor contributing to China’s success is the encouragement given to Chinese hospitals to procure locally, creating a captive market for Chinese suppliers. This approach ensures a steady demand for their products. Consequently, China has emerged as a significant exporter of medical supplies, including personal protective equipment (PPE), medical equipment, orthopedic devices, and other essential medical supplies.
Despite concerns about disruptions to the global supply chain during the COVID-19 pandemic, China’s export of medical supplies has not wavered. In fact, China has even increased its import of medical supplies while maintaining its status as a major net exporter. In a given year, the China Chamber of Commerce for Import and Export of Medicines and Health Products reported an impressive $52 billion worth of medicine and medical equipment exported in the first six months alone.
China’s Ministry of Science and Technology has identified the production of medical kits as a vital industry for focused development. This initiative is part of the country’s ambitious $300 billion “Made in China 2025” industrial policy, which aims to reduce dependence on imports across several key sectors, including medical devices. The ministry has set a goal to increase China’s market share by 30 to 40 percentage points in each category of medical supplies.
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In line with this vision, the Chinese government continues to provide unwavering support to the medical supply industry. An excellent example is Guangzhou Aoyuan Biotech Company, which made a strategic decision in 2020 to expand its operations from producing disinfectants to manufacturing N95 masks. In response, a high-ranking local official promptly visited the company, facilitating the acquisition of land in an industrial park, and expediting all necessary administrative procedures.
With the Chinese government’s steadfast commitment and support, the country’s medical supply industry is poised for further growth, reinforcing China’s position as a leading player in the global market for protective and medical supplies.
Key Takeaways from the China Medical Supplies Market
- By Type, the sterilization consumables category is projected to experience the most rapid growth during the expected timeframe, with an anticipated growth rate of 7.2%. In 2021, the catheters segment accounted for the largest portion of the market, holding a market share of 14%.
- On the basis of Application, the respiratory segment is expected to demonstrate the highest growth rate of 6.9% throughout the predicted duration. In 2021, the cardiology segment dominated the market with a market share exceeding 30%.
- In terms of End-User, the ambulatory surgical centers segment is expected to grow at the highest CAGR of 6.6%. On the other hand, the clinics segment is projected to hold an opportunity of US$ 3,145.6 million during 2021-2027.
Key Companies Profiled in the China Medical Supplies Market
- 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.
- Advanced Wound Dressings
- Diagnostic Supplies
- Dialysis Consumables
- Infusion & Injectable Supplies
- Intubation & Ventilation Supplies
- Personal Protective Equipment
- Radiology Consumables
- Sterilization Consumables
- Surgical Wound Care
- Traditional Wound Care
- Wound Care Consumables
- Other Medical Supplies
- Infection Control
- Wound Care
- Other Application
By End User
- Ambulatory surgical centers
- Other end users
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