China being the world’s second largest healthcare market, manufactures a wide variety of medical products as well as medically related items to exacting specifications. The China Medical Supplies Market, analyzed by Astute Analytica was valued at US$ 53,963.2 Mn in 2021 and is estimated to reach US$ 73,228.7 Mn by 2027. The market is registering a CAGR of 5.2% over the projection period 2022-2027. Currently, Chinese factories produce medical items like gloves and gowns, as well as specialized medical products like imaging, anesthesia, and dialysis equipment. Further, sophisticated medical equipment is manufactured on a regular basis in China, and then exported to clients across the globe. Moreover, as part of China’s “Made in China 2025” initiative, China’s high-tech factories are working hard to bring their manufacturing in the most technical areas of medical equipment up to world-class standards. Manufacturing facilities in China are strenuously regulated and are accommodating to their foreign clients.

The market is majorly driven by factors such as growing healthcare expenditure coupled with rising geriatric population and effective measures of government to ensure crucial medical supplies to Hebei province amidst the new coronavirus outbreak. China has one of the fastest growing ageing populations in the world. According to World Health Organization (WHO), the population of people over 60 years old in China is projected to reach 28% by 2040, due to longer life expectancy and declining fertility rates. By 2019, there were 254 million older people aged 60 and over, and 176 million older people aged 65 and over. And by 2040, an estimated 402 million people (28% of the total population) will be over the age of 60. Further, rising healthcare expenditure coupled with growing geriatric population is propelling the market growth. Further, China has been exploring innovative approaches to improving access to integrated care, including the establishment of an internet-based medical information platform. Continued investment in these innovations and creating an integrated, community-based social and health care system, along with chronic disease control and prevention, are expected to drive the market growth over the forecast period. Moreover, the Chinese government’s effective measure to ensure crucial medical supplies to Hebei Province amid COVId-19 and government adaptability to take measures immediately as per the seriousness of disease is further accelerating the market growth. In addition, growing demand for smart medical supplies in the healthcare industry is providing a lucrative opportunity for market growth over the forecast period. However, the volatile regulatory system in China may hinder market growth. 

Key Insights of the Report: 

• The latest study published by Astute Analytica analyzes China Medical Supplies Market for the study period of 2017-2027; where historical years are 2017-2020, base year is 2021 and forecast period is 2022-2027.
• The research report offers detailed study of market determinants including market drivers, restraints, opportunities, and trends; along with attractive presentation in the form of impact analysis to gain a simpler and easy comparison view of all market determinants.
• The research study is a compilation of eight chapters distributed across 85 pages with 3 lists of tables and 14 lists of figures.
• The market is segmented based on type, application, and end user.
• The market estimates are presented in terms of value (US$ Mn).
• Along with market estimations, the market study was conducted on the basis of various economic models such as PESTLE and Porter’s five force models.
• A detailed value chain analysis of the industry was conducted. It includes raw material providers, manufacturers, distributors, and end-users.
• The competitive dashboard section includes analysis on the basis of Concentration Ratio (CR), based on market size and market presence of key companies.

Key Takeaways from the China Medical Supplies Market Report:

• Based on type, the catheters segment holds the highest share in the China Medical Supplies Market in 2021 and is projected to continue its dominance over the forecast period. The growth of this segment is attributed to the growing geriatric population in China. Further, diagnostic supplies hold the second highest market share in 2021 due to rising incidences of non-communicable diseases such as cancers in China. Further, sterilization consumables register the highest growth rate over the projection period 2022-2027.
• In terms of application, the cardiology segment dominates the medical supplies market of China in 2021. This is due to the large population growth in China coupled with ageing. Further, changing lifestyle and rapid urbanization and industrialization has further led to a rise in cardiovascular diseases, which in turn is propelling the market growth. However, the respiratory segment is estimated to record the highest CAGR over the forecast period.
• Based on end users, hospitals are the highest end users in the medical supplies market of China in 2021. The growth of the segment is attributed to growing healthcare expenditure by the Chinese government as well as increasing infrastructure facilities in the country. Further, the ambulatory surgical centers segment holds the highest CAGR over the forecast period.

Impact of Covid-19

The covid-19 pandemic has led to a growth in revenue of the China medical supplies market. The novel coronavirus disease has revealed many countries overdependence on China for active pharmaceutical ingredients (API) and other medical supplies. Further, many dominant players are now emerging, and new innovative products are high in demand, which is further propelling the market growth. 

Competitive Landscape 

The key players in the China Medical Supplies Market are Sichuan Nigale Biomedical Co., Ltd., Jiangsu Likang Group Corporation, Shandong Qiaopai Group, Shanghai Johnson & Johnson Co. Ltd., and Suzhou Capsugel Co. Ltd., among others. Through extensive research, it is found that big players have adopted various competitive strategies such as merger & acquisition in order to have a grip in the stabilized China market. Furthermore, leading companies are expanding their geographical boundaries by acquiring small brands and domestic companies.

Segmentation Overview

The following are the various segments of the China Medical Supplies Market:

By Type segment of the China Medical Supplies Market is sub-segmented into:

• Advanced Wound Dressings
• Catheters
• Diagnostic Supplies
• Dialysis Consumables
• Disinfectants
• 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

By Applicationsegment of the China Medical Supplies Market is sub-segmented into:

• Cardiology
• Infection Control
• Radiology
• Respiratory
• Urology
• Wound Care
• Other Application

By End Usersegment of the China Medical Supplies Market is sub-segmented into:

• Hospitals
• Clinics
• Ambulatory surgical centers
• Other end users