2018-12-11 source：Xi'an Weian Industrial Co., Ltd.
Although it is going to be a cold winter, the spring of high-end medical devices made in China is coming. The survey shows that the medical device market in China has reached nearly 400 billion yuan, with an average annual growth rate of about 23%. By 2020, the total domestic sales will exceed 700 billion yuan. The average annual growth rate in the next 10 years will be more than 10%, which is much higher than the global average growth rate of 5%. This shows that the domestic medical device industry has increased its horsepower and entered the fast lane.
The industry is scattered and poorly invested in R&D.
Although spring is not far away, the thorny problems, such as three feet of frozen ice, have not yet melted. Firstly, the medical device industry as a whole is in a "scattered, disordered, poor" situation. According to Founder Lei, chairman and founding partner of Huagai Capital, there are more than 15,000 national medical device companies, but together they account for only 14% of the global medical device market, while TOP10 Medical Device Company has a global share of 42%, nearly half the world.
In 2016, the annual revenue of the 10 international medical device giants totaled US$145.4 billion, accounting for 36% of the global market. Today, the proportion has not declined but risen. This shows that the concentration of the industry has increased. The strong are always strong. It seems that the voice of high-end medical devices is still in the hands of the international hegemony.
The global TOP10 medical device giants rank as follows: Medunli, Johnson & Johnson, Philips, GE Medical, Fesenius, Siemens Medical, Kandelle, Danaher, Stark and Baxter. Among them, Medunli topped the list with $29.7 billion, while most domestic enterprises still imported core components from abroad and returned. At the stage of national assembly, the output value of each domestic manufacturer with a large number is lower, and the product concentration is far from that of other countries.
One of the reasons why the market of middle and high-end medical devices is basically monopolized by foreign countries is that there is a big gap between domestic investment in research and development of medical devices and that of foreign countries. According to statistics, the R&D investment of the top 20 medical device manufacturers in China is 4.21%. If the national medical device manufacturers, their R&D proportion is only 2.5%. In 2016, the global medical device manufacturers'R&D proportion is 6.9%. For example, Siemens' R&D investment is 13%. Johnson & Johnson's R&D investment is 6.2%. So the lack of R&D seriously restricts the domestic market. Development of medical device industry.
Why are domestic manufacturers unwilling to invest in R&D? The main reason is that R&D cycle is long, technology level is limited, lack of innovation, so we can only give up independent R&D and rely on imports. At present, domestic capital is just looking at the situation, turning its eyes to foreign countries, acquiring new technologies directly through capital acquisition, overseas acquisition or patent acquisition, in order to enhance its own strength. But the shortcut is that the cost of investment is high and not all small-scale enterprises can afford it. So the crux of the problem is that the technology gap restricts the development of domestic medical devices.
In addition, the per capita consumption of medical devices in Europe, America and other countries is relatively high. The per capita consumption of medical devices in China is $6, which is a world-wide difference. This shows that the industry has tremendous room for improvement, but also the rapid growth of the medical device industry, ushering in the favorable environment of spring. Fortunately, in recent years, the monopoly pattern of foreign products has been reversed. For example, CT in high-end medical equipment 10 years ago, the market share of imported brands is as high as 80%, and ventilators are 90%. But now, equipment consumables such as stents have been replaced by imports.
It is reported that electrocardiograph, ultrasound diagnostic instrument, heart stent and other diagnostic and therapeutic equipment and consumables are gradually opened or replaced by imports in clinic. Excellent domestic manufacturers, such as Lepu, Wandong, Myry, LianYing, YuYuYue and so on, are gradually recognized and accepted by the market. The gap between product quality and imported brands is narrowing. Therefore, the revolutionary road of replacing imports by domestic products has just embarked on a journey, which is the general trend of the times as well as the aspiration of the people.
Inspection and diagnosis, good harvest on the market
According to Shenwan Securities, medical devices are grouped into seven categories (see table below), namely, inspection and diagnosis, diagnosis and monitoring, medical equipment, high-value consumables, low-value consumables, family care, pharmaceutical equipment and other plates.