Drugdu.com expert's response:

I. Continuous Market Expansion Driven by Domestic Production and Globalization

Global Market Growth Steady

In 2023, the global high-end medical equipment market reached USD 345.4 billion, marking a 6.64% year-on-year increase. By 2030, China's market size is projected to exceed RMB 300 billion, accounting for 28% of the global share. The United States, Europe, and China are the three core markets, collectively representing over 86% of the total, with China's growth rate significantly outpacing the global average (CAGR of 27.8% from 2015 to 2023).

Accelerated Localization Rate

Technological Breakthroughs: Domestic carbon-ion therapy systems, ECMO devices, artificial hearts, and other cutting-edge equipment have achieved localization. Examples include United Imaging Healthcare's world-first 5T whole-body MRI, Mindray Medical's clinical-grade photoacoustic imaging system, and MicroPort Robotics' laparoscopic surgical robot, all breaking foreign monopolies.

Policy Support: The National Medical Products Administration (NMPA) has implemented a "proactive intervention, full-cycle guidance" policy for innovative medical devices. In 2023, the number of first-time registrations for domestically produced Class III medical devices grew by 12.74%, driving sustained improvements in localization rates for high-end equipment.

Export Growth: Medical device exports increased by 5.4% year-on-year in 2023. Mindray Medical's products now cover over 190 countries, while MicroPort Medical's overseas revenue share surged to 28%. Domestic equipment is accelerating its penetration into "Belt and Road" markets by leveraging cost-effectiveness.

II. Technological Innovation Driving Industrial Upgrades, with Cutting-Edge Fields Becoming Competitive Focal Points

Deep Integration of Intelligence and Digitalization

AI in Healthcare: In 2023, 63 new AI-powered medical products were launched, with technologies like AI-assisted diagnostics and remote surgical navigation becoming widespread. For instance, Tencent Education's "Cloud Intelligence Service" platform connects enterprises with educational institutions, enabling real-time matching of job demands with curriculum resources.

5G Applications: Surgical robots now enable remote operations via 5G, while smart healthcare systems cover pre-epidemic warning, pre-hospital emergency care, and mobile ward rounds, enhancing responses to major public health emergencies.

Blockchain Technology: Enhances transaction security and ensures reliability in high-end medical equipment services.

Breakthroughs in Cutting-Edge Fields

Brain-Computer Interfaces (BCIs): Designated a national priority for future industries, the BCI market is expected to reach RMB 5.58 billion by 2027, with accelerated R&D in flexible electrodes and targeted technologies.

High-Value Consumables: Breakthroughs in domestically produced cardiac pacemakers and neurointerventional devices are addressing localization gaps, while the high-end market for chemiluminescence in in vitro diagnostics accelerates substitution.

Surgical Robots: Laparoscopic surgical robots hold over 60% market share, orthopedic robots account for 15%, and rehabilitation robots/exoskeletons are growing at a CAGR of 15–20%.

III. Sustained Policy Dividends Fostering a Full-Chain Support System

Strengthened Top-Level Design

15th Five-Year Plan: Prioritizes medical robots, high-end medical imaging, and BCIs, aiming to form an innovation闭环 (closed loop) of "basic research → technological R&D → clinical translation → industrial application." Targets include significantly boosting localization rates for core components and achieving over 60% substitution in key areas.

Specialized Policies: The State Council issued the Action Plan for Promoting Large-Scale Equipment Renewals, encouraging medical institutions to upgrade imaging, radiotherapy, and surgical robot equipment. Beijing and Shanghai have included surgical robots in medical insurance reimbursement lists, reducing patient costs.

Optimized Industrial Ecosystem

Capital Support: "Patient capital" is guided to increase early-stage R&D investment, with dedicated medical device innovation funds established to support innovative enterprises.

Talent Development: Industry-education integration cultivates interdisciplinary professionals spanning medicine, engineering, and AI, addressing fragmentation and talent shortages.

Regional Collaboration: The Yangtze River Delta focuses on surgical robot R&D, the Pearl River Delta leads in nursing robot manufacturing, and the Chengdu-Chongqing region establishes rehabilitation robot innovation hubs, forming specialized industrial parks.

IV. Coexisting Challenges and Opportunities: Entering a High-Quality Development Phase

Core Challenges

Technological Barriers: Localization rates for core components like CT tubes and superconducting magnets remain low, with reliance on imports for some high-end equipment.

Cost Pressures: Long R&D cycles and high investment strain innovation resources for SMEs.

Trade Risks: Rising international market access standards and prolonged export certification cycles pose risks.

Growth Opportunities

Emerging Markets: Rising demand in Southeast Asia and the Middle East under the "Belt and Road" Initiative allows domestic equipment to accelerate penetration through cost advantages.

Upgraded Clinical Needs: Expansion of primary healthcare markets drives demand for portable diagnostic devices and rehabilitation robots, facilitating resource下沉 (decentralization of quality resources).

Commercial Insurance Breakthroughs: The National Healthcare Security Administration's approval of commercial insurance coverage for innovative devices addresses payment bottlenecks for high-value products, unlocking new commercialization pathways.

Future Outlook: Innovation-Driven Global Competitiveness

The high-end medical equipment industry is shifting from "scale expansion" to "value creation," with the following trends emerging over the next five years:

Technological Self-Sufficiency: Localization rates for core components will rise significantly, achieving substitution in key fields.

Smart Technology Proliferation: Deep integration of AI, 5G, and robotics will revolutionize product forms and service models.

Global Expansion: Leading enterprises will expand overseas through M&A and international partnerships, while SMEs focus on niche differentiation.

Ecosystem Synergy: Deep collaboration among industry, academia, research, healthcare, and regulatory bodies will foster an innovation ecosystem driving industrial upgrading toward high-end, clustered, and globalized development.