Abstract
Since 2019, China has been the second largest medical device market in the world. At present, high-end radiotherapy equipment such as particle therapy system has a huge market potential due to the grim situation of cancer prevention and control and the growth of people's wealth in China. However, China's MedTech industry, especially the particle therapy equipment field, still faces the influence of policy, fluctuation of market demand, strengthening of industry supervision, and even geopolitical realities. This paper reviews the market prospect of particle therapy medical devices from the perspective of China's medical device policy and demand information analysis, which is conducive to the research on the industrial layout of particle therapy medical physics, and also helps high-performance medical device manufacturers to expand their business visions. MedTech manufacturers should actively adjust their business strategy and implement scientific and technological innovation on the basis of compliance with industry regulatory requirements in order to seize opportunities from challenges and gain profits growth.
Highlights
The Chinese medical device market is fostered by the burgeoning demand from the increasingly affluent and a rapidly aging population and the rising prevalence of chronic diseases, such as diabetes, heart disease, and cancer.Today, the market for medical devices in China is rapidly developing, far exceeding the country’s economic growth rate
Particle therapy equipment in particular is in great need in China
The shifting of domestic demand, regional share, and strict supervision are the challenges faced by the highend medical equipment industry, especially the particle therapy equipment field
Summary
The Chinese medical device market is fostered by the burgeoning demand from the increasingly affluent and a rapidly aging population and the rising prevalence of chronic diseases, such as diabetes, heart disease, and cancer. The market for medical devices in China is rapidly developing, far exceeding the country’s economic growth rate. It is increasing in value by around 20% a year, and it was worth an estimated value of $96.3 billion in 2019, making it the second largest medical device market in the world after the United States. Profit growth in China’s MedTech industry still faces the influence of policy, shifting of market demand, strengthening of industry supervision, and even geopolitics. The shifting of domestic demand, regional share, and strict supervision are the challenges faced by the highend medical equipment industry, especially the particle therapy equipment field
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