R & D investment is not reduced | global medical equipment to maintain a good momentum of development

Medical industry is related to human health and health of the emerging industries, the world's developed countries for nearly a decade, has maintained a high annual growth rate, known as Chaoyang industry .20 century, 90 years, The global economic downturn, but the medical device industry is still able to maintain a good momentum of development.With the major companies to increase R & D investment, the global medical device industry prospects can still be expected.

The global total sales of the medical device market have risen rapidly from $ 187 billion in 2001 to $ 555.3 billion in 2015. The compound growth rate (2001-2015) is as high as 8.08%. Even in the 2008 and 2009 global recession, Global medical devices are still upstream, respectively, to achieve 6.99% and 7.02% growth rate, higher than the same period drug Market growth rate.

2004 - 2015 global medical instruments Industry sales scale (in billion dollars,%)

The global medical device market is mainly composed of high-end medical equipment with certain technical content, among them, in vitro diagnosis and heart Equipment market size accounted for more than 10%.

At present, the United States is the world's largest medical device market and advanced medical technology, the dominant country, accounting for the global medical device market size of 43.25%, the annual compound growth rate of 9%. Europe is the second largest medical device market, accounting for global medical equipment The market size of nearly 30%; in Asia, Japan is the most important advanced medical technology and medical device market, China and India, the population, the market is large, not only nearly a decade to develop rapidly and great potential for growth; Latin America with Mexico , Brazil, Argentina and Chile and other countries to promote the process of industrialization, medical equipment industry is also growing rapidly.

Emerging medical device market to become the rise of the mainstream medical equipment manufacturing enterprise The development of medical equipment in emerging markets in 2009 reached 12.2 billion US dollars, of which the most important market is China, accounting for about one quarter of all sales.As China's many high-end medical equipment Market segments are still mainly occupied by foreign or joint venture products, import substitution is still the next period of time China's medical equipment enterprises to achieve rapid growth of the main opportunities.

It is expected that global R & D investment in medical devices will reach US $ 29.5 billion in 2020, with a compound annual growth rate of about 3.5% between 2014 and 2020. However, R & D investment is expected to grow at a slower pace than sales growth. The overall R & D sales will fall from 6.4% in 2014 to 6.2% in 2020. However, the top 20 companies in the industry will have a R & D investment of 7.7% in 2020, a figure higher than the industry as a whole.

Analysis of global medical device R & D investment in 2007-2020 (in billions of dollars,%)

In the development of R & D investment, the scale of development of the global medical device industry is expected to maintain expansion in 2015 global medical device sales of 55.5 billion US dollars, the average growth rate of 2007 to 2015 more than 8%, while the global pharmaceutical market sales growth The rate is only about 5% hovering.It is expected that 2016-2021, the global medical device market will maintain a growth rate of 4% -7%, 2021 market size or more than 7200 billion US dollars.

2016 - 2021 global medical device industry sales scale forecast (unit: billion)

Although the global economy is still in a difficult recovery, but the medical device acquisition and acquisition momentum will continue from the breakdown of the industry point of view, diagnosis, ophthalmology, orthopedic field of mergers and acquisitions will have potential vitality, Abbott, Baxter International and Medtronic The giant will become the industry's most potential mergers and acquisitions.

In contrast, medium-sized medical device companies will grow faster in the future, and medical device giants such as Medtronic may not be as well as before, so small and medium-sized medical device companies will attract more public funds, and these public Funds have stronger purchasing power.

In general, global medical device opportunities outweigh the challenges of the global medical device industry is facing major challenges include: continued decline in sales prices; enhanced supervision; from the charge side of the control of medical and health expenditure pressure, but at the same time, the global medical device industry There are some positive factors to maintain the growth of the industry: population aging; chronic disease Increase the trend; emerging medical device market rise.