China Business Intelligence Network News: Medical devices refer to instruments, equipment, appliances, in vitro diagnostic reagents and calibrators, materials and other similar or related items used directly or indirectly on the human body, including the required computer software. According to the division of use, medical equipment is subdivided into five categories: medical equipment, testing equipment, consumables, home care, and pharmaceutical equipment.

With the natural growth of the global population and the increasing aging of the population, the new crown epidemic is sweeping the world, and the consumer demand in the medical and health industry continues to increase, driving the global medical device market to continue to maintain a growth trend. According to statistics from "World Preview 2020, Outlook to 2024", the global medical device market sales in 2020 will be 477.4 billion U.S. dollars, with a 5-year growth rate of about 4.6%; global medical device sales are expected to reach 594.5 billion U.S. dollars in 2021.

Data source: "World Preview 2018, Outlook to 2024", compiled by China Commercial Industry Research Institute

U.S. medical device market share reaches 45%

From a regional point of view, the medical device industry in the United States and European countries developed earlier, and there are many well-known companies in the medical device industry. The technical level and quality requirements of medical device products are relatively high. The market demand is mainly for the upgrading of new products. . According to data, the most important market and manufacturing country for medical devices in the world is the United States, which accounts for about 45% of the global medical device market share; the second largest market and manufacturing region for medical devices in the world is Europe, which accounts for 30% of the global medical device market share. ; And the medical device industry in Asia and Japan has greater advantages.

High concentration of medical device market

From the perspective of industry concentration, the global medical device market is highly concentrated, mainly occupied by multinational companies. According to Qmed statistics, in 2019, Medtronic ranked first in sales revenue, with sales revenue of 30.891 billion U.S. dollars and a market value of 159.545 billion U.S. dollars. The second name is Johnson & Johnson, with sales revenue of 25.963 billion U.S. dollars and a market value of 383.91 billion U.S. dollars. The third is Abbott, with sales revenue of 19.952 billion U.S. dollars and a market value of 157.393 billion U.S. dollars.

Data source: Qmed, compiled by China Commercial Industry Research Institute