Medical Net May 7th Implantation of medical devices is currently one of the most effective means of treating cardiovascular and cerebrovascular diseases and orthopedic diseases. However, implanting medical devices is also a multidisciplinary, knowledge-intensive, capital-intensive high-tech industry. Therefore, China's implanted medical devices are developing at an early stage. With the advancement of medical reforms in recent years and the increase of residents' income and consumption levels, China's implanted medical device industry has achieved rapid development.
Benefiting healthcare reform Rapid development of the industry
Due to the deepening of the reform of the medical system and the advancement of domestic technology, the domestic medical device industry has begun to develop rapidly. In 2010, China's implanted medical device industry quickly emerged from the depressed macroeconomic environment, and its sales revenue increased by 44.22% year-on-year. After 2011, the sales growth rate of the industry is still at a relatively high level. Taking drug stents as an example, cardiac drug stents are used to treat cardiovascular diseases. disease The commonly used medical devices, China's annual demand for drug stents in more than 450,000, and an average annual growth rate of about 40%.
Due to the large number of small and medium-sized enterprises in the medical device industry in China and the small number of enterprises above designated size, the decline in sales revenue of the implanted medical device industry in 2016 does not mean that China's implanted medical device industry will fall into a downtrend in 2016. In 2017, China implanted medical care The enterprises above designated size achieved sales revenue of RMB 111.66 billion, an increase of 11.38% year-on-year; and realized total profit of RMB 2.45 billion, a year-on-year increase of 24.87%.
Exhibit 1: Total sales income and total profit of medical device companies implanted above the national scale from 2010 to 2017 (Unit: 100 million yuan, %)
Source: Forward-looking Industry Research Institute
Localization of Medical Devices Reduced Imports, Slow Export Growth
In China, except for a few technologies that are at the international advanced level, there is a big gap between the overall level of technology and foreign countries. The overall production level of implanted medical devices is only equivalent to that of developed countries 15 years ago, and the overall market size is still relatively small. However, due to the active support of a large number of consumer groups and governments in China, the market for implanted medical devices in China has developed rapidly, and the low-end market has gradually become an advantage in implanting medical devices.
Therefore, in recent years, the overall import of medical devices imported from foreign countries tends to decline. However, due to the short development time of implanted medical devices in China, there has been no long-term quality inspection in the international market, the brand awareness is low, and the export growth has been slow.
On the import side, taking cardiac pacemakers as an example, the amount of cardiac pacemakers imported from China decreased gradually in 2014-2017, and the import value of cardiac pacemakers in 2017 was US$10.974 million, which was 29.6% lower than the same period of last year, indicating that China's domestic pacemakers are pacing. Market scale gradually expanded.
Exhibit 2: China's cardiac pacemaker imports in 2014-2017 (unit: million US dollars, %)
In terms of exports, taking orthopedic or fractured appliances as an example, in the year of 2014-2017, the export growth rate of orthopaedic and fractured appliances in China tended to decrease. In 2017, the export value of orthopaedic and fractured appliances was 43.157 million US dollars, an increase of 4.1% over the same period of last year. 3. The export growth of implanted medical devices in China has been slow.
Exhibit 3: Imports of cardiac pacemakers in China in 2014-2017 (Unit: 10,000 USD, %)
Policy-intensive introduction of implantable medical device development
From the perspective of government policy, the government has introduced a series of guidance and encouragement policies for implantable medical devices to gradually form a good atmosphere for the development of key implantable medical devices. October 25, 2016 drug The General Administration of Supervision issuedmedical instruments Priority Approval Procedures for the prior approval of medical devices of various species, including pulmonary valved valves, percutaneous interventional prosthetic heart valve systems, and fully degradable sinus drug stent systems, and other implantable medical devices; June 7, 2017, Science and Technology The Ministry, the National Health and Family Planning Commission and other departments jointly issued the “13th Five-Year Plan” on health and health The "Special Plan for Scientific and Technological Innovation Projects" is aimed at improving China's health and health science and technology innovation capability, and proposes to focus on the development of new types of biomedical materials, new implant equipment and other products in the research and development of medical devices.
Exhibit 4: Summary of implanted medical device policies since 2016
In general, after many years of development, implanted medical devices in China enterprise With a large number and low industry concentration, with the beginning of industry consolidation, big companies such as Medtronic and Johnson will be born in the future.
