Drugdu.com expert's response:

The development trend of the medical device industry demonstrates diversification and a positive upward trajectory.

Ⅰ. Continuous Growth in Market Size

In recent years, the market size of the global and Chinese medical device industries has maintained a rapid growth trend. The market size of China's medical device industry has grown from 623.5 billion yuan in 2019 to 1,035.8 billion yuan in 2023, with a significant annual compound growth rate. It is projected that the market size will further expand in 2024. Especially in the submarket of medical instruments, it同样 exhibits a rapid growth trend, and it is estimated that the market size of China's medical instruments will reach 415 billion yuan by 2024.

Ⅱ. Accelerated Advancement Towards High-End Products

Guided by high-quality development policies, China's medical device industry is accelerating its move towards high-end products. Innovative medical device products are emerging continuously, such as biomaterial devices, medical robots, medical imaging equipment, and artificial intelligence (AI) medical devices, and the market share of these products is gradually increasing. At the same time, the government has also increased support for high-end medical equipment, promoting cooperation among enterprises, universities, and hospitals in the development of high-end medical accelerators and other high-end equipment.

Ⅲ. Accelerated Intelligent Transformation

With the deep integration of AI technology, new materials, and other technologies, the medical device industry is undergoing an intelligent transformation. The application of intelligent technology has not only improved the accuracy and efficiency of medical devices but also promoted the upgrading and transformation of medical services. In the future, with the continuous progress of technology and the deepening of its application, the level of intelligence in the medical device industry will further increase.

Ⅳ. Increasing Domestic Production Rates

In the field of high-end equipment such as medical linear accelerators, although foreign brands have an earlier start and a leading position in technical accumulation and market share, in recent years, Chinese enterprises have emerged as rising stars, and the domestic production rate has shown a clear upward trend. This is attributed to the government's support policies for domestic medical devices and the enterprises' own technological innovation and R&D investment. In the future, with the continuous improvement of the technical level and market competitiveness of domestic medical devices, the domestic production rate is expected to further increase.

Ⅴ. Enhanced International Competitiveness

In recent years, the international competitiveness of China's medical device industry has significantly increased. On the one hand, the foreign trade structure has been continuously optimized, with a faster year-on-year growth in export totals. On the other hand, enterprises have accelerated their pace of going global and actively explored international markets. In the future, with the in-depth promotion of the "Belt and Road" initiative and the continuous expansion of the global medical market, China's medical device industry will face more international opportunities and challenges.

Ⅵ. Increased Policy Support

The government attaches great importance to the development of the medical device industry, continuously deepening relevant reform measures and issuing a series of supportive policies. These policies cover various aspects of medical device research and development, production, sales, and use, providing a strong guarantee for the healthy development of the industry. In the future, with the continuous improvement and implementation of policies, the medical device industry will usher in broader development prospects.

In summary, the development trend of the medical device industry demonstrates continuous growth in market size, accelerated advancement towards high-end products, accelerated intelligent transformation, increasing domestic production rates, enhanced international competitiveness, and increased policy support. These trends will provide strong support and broad space for the future development of the medical device industry.