The medical device industry is a multidisciplinary and technology intensive industry. Multidisciplinary intersection is reflected in its involvement of multiple disciplines such as polymer materials, life sciences, clinical medicine, etc; Technology intensive is reflected in the joint application of multiple technologies such as medicine, machinery, and materials in its production technology, which is a typical high-tech industry. As it is related to human life and health, it is an important component of the construction of the medical and health system and has a high strategic position. The development level of the medical device industry has become an important indicator for measuring a country's scientific and technological level and national modernization level. This industry has become one of the most important components of modern clinical medicine, disease prevention and control, public health, and health security systems, and has formed a broad market with stable demand.

1. Current situation of international industry

With the development of the economy, population growth, the increasing degree of social aging, and the continuous enhancement of people's health awareness, the global medical device market demand continues to grow rapidly, and the medical device industry is one of the fastest-growing industries in the world today. According to statistics from the European Commission for Medical Devices, the total sales of the global medical device market have rapidly increased from $246.8 billion in 2004 to $501.8 billion in 2014, with a compound annual growth rate of 7.35%. The growth rate of the global medical device market exceeds the GDP growth rate of the same period, with the former being about twice that of the latter.

Global Medical Device Market Sales Scale from 2004 to 2014

Source of Information: Compilation of Public Information

From the perspective of the global market landscape, developed countries in Europe and America have entered a mature stage of their medical device industry after long-term development, and have formed a huge sales network.

The United States is the world's largest medical device market, where leading medical device companies gather. Coupled with its advanced technology and capital intensity, the region's market leading position is unshakable. The European Union is the second largest medical device market in the world after the United States. As of the end of 2014, the population of the 28 EU countries had reached over 508 million, and the region had a good economic foundation and strong ability to consume medical devices, with the market still retaining internal driving force. The medical device market in the Asia Pacific region, represented by China, is currently the most promising medical device market in the world. According to statistics, the annual average compound annual growth rate of the medical device market in the Asia Pacific region from 2009 to 2012 reached 10.2%, higher than the global average, and its share in the global medical device market will significantly increase. Although currently developing countries mainly engage in the processing and production of medical devices with lower profit margins. But with the advancement of technology and the development of manufacturing, as well as the vast market brought by the large population base, the future market prospects are very broad.