A 400 billion medical equipment market, many people do not know
Medical Network July 16th China's medical device market scale, the amount of statistics varies, but no data is more than 600 billion.
But another 'mysterious' medical instruments The market, the annual growth is triumphant, it is expected to reach 400 billion by 2020, directly killing every single item of medical equipment, consumables, and diagnostic reagents, but many people in the circle know little about it.
Today, the Cypress Blue device is based on Investment The securities related research report has compiled an overview of the oral medical device market for your reference.
400 billion market size
In 2015, China's oral medical device market has reached 134.6 billion yuan. According to the prospective industry research institute, the market size of products and services in related fields will exceed 400 billion yuan by 2020, and the compound growth rate will reach 24.34%.
Among the oral medical equipment and consumables, the fastest growing areas are orthodontics and implants. Orthodontics is the disorder of the teeth and the abnormal shape of the teeth. The traditional orthodontic appliances are metal braces, but the fastest growing is invisible correction. The third type is dental implant, which is one of the best dentition defect repair methods with the best aesthetics and functionality.
As a repair method that is very similar to natural tooth function, structure and aesthetic effect, dental implant has developed rapidly since the 1980s and has become the internationally recognized first choice for dental restoration. According to the American Society of Stomatology In 2017, there were about 15 million dental bridge restorations or denture implants in the United States. In the same period, the implants were about 5 million implants, and the implants accounted for about 25% of the total dental restorations.
Focus on the dental implants
First look at the surgical cost of dental implants: implants 3500 ~ 12000 yuan; crown porcelain teeth 300 ~ 1000; all porcelain teeth 1000 ~ 2500 yuan; surgery costs + anesthesia costs 3000 ~ 5000 yuan; total cost 8000 ~ 22000 yuan.
According to the American Society of Stomatology, the average success rate of oral implant surgery has reached 95%, which is equivalent to the success rate of other dental prosthetics. In the case of a single implant with only one implant, planting The success rate of dental surgery can reach 97%, ranking first in all dental prosthetics.
According to the proportion of implanted teeth to the population, the highest is Israel and South Korea, reaching 600/10,000 people. We judge that it may be related to the reimbursement policies of these countries. For example: Since 2014, the dental implants have gradually evolved for some high-end people. Incorporate into the reimbursement.
Of course, in other countries, implants are not reimbursable in most cases. It can also be seen that European countries, Brazil, Argentina, etc. have a penetration rate of 100 per 10,000 people, and the United States is close to this data. The lower penetration rate is in Japan, about 46 per 10,000 people.
China is currently only about 7 per 10,000 people, far lower than other countries. The reason may be that the number of dental implanters in China is still too small, and on the other hand, the awareness of dental health is still gradually improving.
Factors affecting the penetration rate of implants: per capita disposable income, localization, number of implanted qualification doctors
The penetration rate of implants depends on two factors: per capita disposable income, dental implant price. For implanted teeth, we believe that localized imitation manufacturers are a major cause. In addition, the number of physicians with dental implants, It is also a factor in determining the penetration rate of implants.
First, the relationship between per capita disposable income and implant penetration rate can be found in the table below. It can be clearly seen that if countries such as South Korea, Israel, Brazil, and Argentina are excluded (these countries have lower dental implant prices, and even the medical insurance coverage section of Korea) People, therefore, are the price reasons that make them more permeable.) Then, in general, countries with lower per capita disposable incomes generally have lower penetration rates, and vice versa.
In addition, referring to South Korea, the amount of dental implants in Korea was developed around 2000. In 2000, South Korea's per capita disposable income was 9,000 US dollars.
China's current per capita disposable income is about $5,600. However, in Beijing, Shanghai, Guangzhou, Shenzhen, Hangzhou and other places, the per capita disposable income is already around 9,000 US dollars. Therefore, in China's first- and second-tier cities, the amount of dental implants is developing rapidly. stage.
Second, the price of dental implant surgery is also a core factor affecting penetration. For example, South Korea, Israel, Brazil and Russia, the cost of dental implant surgery is relatively low, and the penetration rate of these countries is also significantly higher than the same economic situation. Other countries.
To determine the price of dental implant surgery, we judge that localized manufacturers are a core factor. The most important cost of dental implant surgery is implants. The implant manufacturers can be divided into premium brands (take high-end routes) and low-end brands (take low-cost routes). ), the top 5 implants enterprise Basically all Swiss and American companies.
However, in countries with high penetration rates such as South Korea, Israel, Brazil, etc., there are local implant companies, or low-end brands that are acquired by leading companies. These localized products grow much faster than the premium. Brands have pushed down the price of dental implants in these countries, which has increased the penetration rate of implants.
Third, the number of doctors with dental implants also has an impact on the penetration rate. The main reason is that dentists who purchase dental implants are dentists. Therefore, the increase in the number of dentists with dental implants means the growth of dental implants. .
In Korea, 80% of dentists are eligible for implants. In Brazil, the number of dentists with dental implants is the highest in the world.
Only 22% of dentists in the United States have dental implant qualifications. Therefore, although the gap between per capita disposable income in the United States and Germany is small, the gap in implant penetration is relatively large.
Only 11% of dentists in China have dental implant qualifications. Of course, there is no official dental implant certification in China (the medical institutions that need implants need a license), and dentists can master dental implant surgery as long as they learn, so we think As the amount of implants increases, the number of dentists who will promote dental implants will increase, which in turn will increase the amount of implants.
Dental implant market annual compound growth rate of up to 56%
Due to the increase in residents' consumption capacity, the increase in the number of qualified dentists with dental implant experience and the increase in academic promotion, China's dental implant market is in a period of rapid development. In 2011, the number of dental implants in China was only about 120,000, 2013 It has grown to 300,000 a year, more than one million in 2016, nearly 2 million in 2017, and a compound growth rate of 56% from 2011 to 2017, making it one of the fastest growing dental implant markets in the world.
With the continuous strengthening of doctor training and patient education, the penetration rate of dental implants will continue to increase in the future. In recent years, the Chinese market has become the most important source of incremental growth for dental companies, and relevant domestic and foreign companies have stepped up their academic promotion in China. , greatly improved the popularity of dental implants in ordinary patients.
The lack of resources for dentists is also an important reason for restricting the development of dental implant market in China. Through the cooperation training of dental doctors associations and dental companies, and the introduction of overseas doctors, the situation is expected to improve significantly. It is expected that the dental implant market will remain in the next few years. More than 30% faster growth rate.
It is conservatively estimated that the potential stock market demand for implants will reach 400 billion yuan.
According to the results of the Fourth National Oral Epidemiological Survey, in the middle-aged and young people aged 35-44, the edious rate is about 36.4%, the average tooth volume is 29 per person, and the proportion of missing teeth is 82.8%; 65 years old Among the 74-year-olds, 86% had tooth loss, the proportion of total mouthless teeth was 4.5%, the average tooth volume was 22, and the proportion of missing teeth was 63.2%.
We very conservatively estimate that the dental implant penetration rate of urban middle-aged edentulous population is 20%, the penetration rate of rural middle-aged population is 5%, and the penetration rate of the elderly population is 0.1%. Then according to the latest population data of China, the dental implant market The potential stock demand is about 40 million, and the theoretical stock market demand amounted to more than 400 billion yuan.
We estimate that by 2025, the number of dental implants in the country will be 14.5 million, which is about 100 per 10,000 people. Compared with other countries, it is similar to the current US, lower than most European countries now. Brazil, Argentina and other South American countries, therefore, we believe that the forecast results are within reasonable limits.
Implant is the core material for dental implants
The main consumables for dental implant surgery include implants, implant abutments, crowns, and restorative materials. Implants are implanted in the alveolar bone, providing support for the entire implant system, and retaining the core components of the implant.
The implant abutment is the part of the implant exposed outside the mucous membrane of the gum. The main function is to connect and fix the crown mounted on it. The crown is what we call the 'denture' and 'denture'. The repair material generally includes the oral cavity. Repair membrane and bone powder for wound repair, both can be used in combination, or can be used alone, depending on the patient's jaw defect.
The global market for implants and dentures reached US$8.98 billion in 2017, with a projected compound growth rate of 6.5% in the next 6 years and US$13.01 billion in 2023. The world's major implant companies include Swiss Straumann, US DENTSPLY, US ZimmerBiomet, American Danaher ( Acquisition of Swedish Nobel dental implants, Spanish AVINENTImplantSystem, American HenrySchein, Korean Osstem, Korean DIO, German Merz, American BICON, Japanese ShofuDental, Swiss ThommenMecial and South African Southern Implant.
The price of implants is the most important factor in determining the cost of dental implants. We have investigated the dental implant prices of dental institutions. The total cost of single tooth implants on the market is about 8,000-22,000 yuan. The charges mainly include implants. , planting abutments, crowns, repair materials and surgical costs. Implants are based on materials, processes and sources, and the price ranges from 3,500 yuan to 12,000 yuan.
The price of planting abutments is generally more than 1,500 yuan. The current price of a full-ceramic crown is about 2,500 yuan. The price of the repair material is the combination of Bio-Gide repair film and Bio-Oss bone powder in Switzerland. Above yuan, the domestic combined representative of Zhenghai Biological's Haiao oral membrane and bone powder combination price is about 1000-1500 yuan.
The space for domestic implants to replace imports is very large.
The domestic implants have a domestic market share of more than 90%. At present, the dental implant systems used by China's oral medical institutions are mostly occupied by foreign capital. We estimate that the domestic share of foreign capital is over 90%. The high cost of imported products is also the cost of dental implants. The main reason why market development is difficult to accelerate further.
We judge the reasons for the low occupancy rate of domestic implants:
First, technically, domestic and imported surface treatment processes may have certain differences, but with reference to consumables such as joint orthopedics, we believe that domestic surface treatment technology is not difficult to catch up with imports;
Second, most of the dental implant patients currently have higher income levels, and patients and doctors are more superstitious about imported products, especially for implant consumables that need to stay in the body for a long time. Many patients are more willing to spend thousands of dollars to use imports. material;
Third, even in the face of price-sensitive people, the price of some Korean dental implant systems is not high, making the domestic price advantage is not obvious.
At present, there are 10 domestically produced planting systems approved for listing in China, including Allianz and Tianzhu from Taiwan. Among the eight dental implant systems in mainland China, only the CDC of Huaxi and the BLB of Leiden are recognized by the industry as international. Level, but CDI is mainly for Huaxi oral cavity hospital Self-use, low proportion in other medical institutions; Leiden's BLB is positioned at the low-end, and its high-end product line is actually proxy Italian B&B system.
Only 10 domestic dental implant systems were approved for marketing
Production unit (product name)
Registration Number
Approval date
West China Medical University, Ministry of Health, Dental Implant Technology Center (CDIC)
National Food and Drug Administration (quasi) word 2014 No. 3630936
2014.06.06
Sichuan University Biomaterials Engineering Research Center (BAM)
Shenzhen Ante High-Tech Industrial Co., Ltd. (Antmed)
National Food and Drug Administration (quasi) word 2014 No. 3631494
2014.8.11
Changzhou Baikang Special Medical Devices Co., Ltd. (BKT)
National Food and Drug Administration (quasi) word 2014 No. 3631592
2014.9.5
Global Allianz Technology Co., Ltd.
National Machinery Note 20173630215
2017.8.1
镱Ti Technology Co., Ltd. (天玺)
National Machinery Note 20153630063
2015.4.22
Oral repair membrane and bone repair materials, large import substitution space
Oral repair membrane is a biologically regenerative material. It is mainly used in the clinical treatment of stomatology for the repair of superficial soft tissue defects in the oral cavity and the prevention of scent sweating (Frey's) syndrome in parotid surgery. It is based on tissue engineering techniques. The specific tissues and organs of the source are subjected to a series of treatments such as decellularization, virus and pathogen inactivation, and a scaffold material having a natural tissue spatial structure is obtained.
Oral repair membranes require good tissue compatibility, no immune rejection, and can induce tissue regeneration while repairing the function of diseased tissues or organs. Currently, it has been widely used in oral medicine, especially in the field of dental implants. It has also been applied in maxillofacial surgery.
The oral prosthetic membrane can be combined with bone repair materials such as bone powder for filling and repairing the dental mandibular defect (or insufficient bone mass) after oral surgery, so that the implant can better integrate with the surrounding alveolar bone and improve wound recovery. effect.
Since the oral prosthetic membrane and bone repair materials are mainly used in the dental implant field, the market scale is directly related to the dental implant market in China. In 2017, the number of dental implants in China is close to 2 million. According to the theory, one tooth is needed for each dental implant. The standard of oral repair membrane and a bone repair material (bone powder) is measured at the current price level of 2,000 yuan per membrane and bone powder in a dental implant surgery. The theoretical scale of the oral repair material in the terminal market of dental implants can be Reached 4 billion yuan.
Since the terminal price of the oral prosthetic membrane and bone repair material is basically at the level of 1:1 to 1.5:1, we believe that the current market for dental restoration membranes in the dental implant field is between 2 billion and 300 million yuan, and the bone repair material is up to about It is 1 billion yuan.
Oral repair materials account for a small proportion of the cost of surgery. If the median value is used for calculation, the current cost of a dental implant surgery is 15,000 yuan, including about 6,800 yuan of implants, 1,800 yuan of abutments, 2,500. Yuan's crown, 1,500 yuan of repair materials, the remaining 2,400 yuan for surgery and equipment costs.
The cost of repair materials in implant surgery is the smallest, and the sensitivity of medical institutions and patients to their prices is relatively low. At present, the price reductions for medical institutions for patients are mainly concentrated on the cost of implants and surgery, and patients are mainly concerned. In this regard, the pressure on the price of repair materials is less.
At present, the domestic market for dental prosthetic materials is relatively concentrated, and foreign capital has an absolute advantage. The Swiss company Gai's family is the only one with exclusive market share of about 70%. Domestic enterprises Zhongzhenghai is ranked first, with a market share of around 10%. % of the market is quite fragmented. In addition to other regular approved products, there are a large number of brands that enter China through other channels, mainly in individual private clinics.
Foreign companies such as Gai and others have entered the Chinese market earlier, have first-mover advantage, and have a good reputation. However, in recent years, domestic enterprises represented by Zhenghai Biological have gradually matured, the market share has risen rapidly, and there is no product quality. Significant gap, while the price is only about one-half of Gai's, the space for future import substitution is very large.
Oral CBCT grows rapidly
Oral CT is a spiral collection of data around a volume of the human body. It can reflect the tissue condition from a three-dimensional angle. It can be found that the projection angle of the oral X-ray film cannot be found, or a more subtle lesion; its three-dimensional reconstruction effect It can accurately evaluate the condition of bone tissue and mandibular joint, assist doctors in preoperative design, and postoperative scientific evaluation.
CBCT (ConebeamCT), that is, cone beam CT, the principle is that the X-ray generator makes a circular digital projection around the projection body with a low amount of radiation, and after hundreds of times of digital projection, the obtained data In the computer, three-dimensional images are obtained after recombination. The biggest difference between CBCT and traditional CT is that CBCT uses three-dimensional cone beam X-ray scanning, while traditional CT uses two-dimensional fan beam scanning.
Compared with traditional CT, CBCT has the following advantages:
(1) Low radiation dose: The effective radiation dose of traditional CT is about 2000uSv, while the CBCT radiation dose range is between 29uSv-477uSv, which reduces the radiation received by patients.
(2) Short data acquisition time: The single scan time is generally 10-50 seconds, which is much lower than traditional CT, which reduces the radiation exposure time of the patient and the artifacts caused by the movement during scanning.
(3) Convenient and applicable: CBCT covers a small area, the price is only 20%-50% of the traditional CT, which is conducive to the purchase of ordinary dental clinics.
Similar to other imaging diagnostic equipment markets, China's main market share of oral CT has long been occupied by imported brands such as Kawa, Sinod. Benefiting from the rapid development of the oral medical industry, the market scale of oral CT in China has exploded in recent years. The situation. Domestic enterprises actively seize market opportunities, have been involved in the R & D and manufacturing of oral CT. At present, a total of ten domestic CBCT products have been approved by the CFDA, the listing time is mostly concentrated in 2014, 2016 two years.
With the help of dental CT imaging software (Dental CTprogram, DCT), oral CT can reconstruct the maximal-oral panoramic image and the tomographic image. The image is clear and intuitive. It has been successfully used for pre-operative measurement of dental implants, oral inflammation, tumor and Diagnosis of various diseases such as oral maxillary sinus fistula.
Domestic dental CT approved product list
product name
Product model, specification
manufacturer
Approved date
Oral X-ray digital tomography equipment
HiRes3D, Smart3D
Beijing Langshi Instrument
2013.11.12,
2016.06.30
Oral X-ray machine
PantOsDGPlus, IntraOs70
Bangsheng Medical Equipment
2012.07.31,
2015.10.12
Digital oral panoramic X-ray machine
SS-X9010DPro Series
Hefei Meiya Optoelectronics
2014.02.24
Oral X-ray digital tomography equipment
DENTOM
Shenzhen Anke
2014.06.19
Digital oral panoramic X-ray machine
DT1000
Hangzhou Meinova Medical Technology
2014.06.19
Oral X-ray digital tomography equipment
Bondream3D-1010
Changzhou Bonn Zhongding Medical Technology
2016.02.05
Digital oral and maxillofacial panoramic X-ray machine
MSQS2009-I
Fujian Meisheng Medical Technology
2014.12.22
Oral X-ray digital tomography equipment
Jiujiutianmu3DG, Jiujiutianmu3DB
Sichuan Jiujiu Tianmu Medical Devices
2014.12.24
Oral X-ray digital tomography system
ZCB-100
Shenzhen Zhongke Tianyue Technology
2014.09.04
Digital oral CBCT
Dentrix20
Shenzhen Fussen
2016
The main applications of CBCT include the following aspects, covering the main areas of stomatology, benefiting from the high growth of the dental industry as a whole, and the market demand is strong:
(1) Dental endodontics: CBCT can easily diagnose the anatomical relationship around the roots, inflammatory lesions, cysts, etc. in the treatment of dental endodontics.
(2) Alveolar bone surgery: CBCT can fully understand the anatomical structure around the teeth through stereoscopic imaging during alveolar bone surgery, so that doctors can target the surgery and use a safer method to avoid damage to the nerves.
(3) Oral Implants: CBCT can provide accurate three-dimensional images of oral implants, showing the bone quality of the jaw bone, bone mass and mandibular canal, maxillary sinus and other tissue structures. CBCT designs the best surgical plan for imaging stereo images. The implant surgical guide is made to transfer the ideal position of the implant into the patient's jaw bone, which greatly reduces the risk of implant surgery.
(4) Orthodontics of the jaw: The traditional two-dimensional plain film has certain limitations, such as the superposition distortion of the craniofacial structure, which causes a certain error in the positioning of the cranial and maxillofacial landmarks, while the CBCT provides a three-dimensional structure. Data reconstruction of each section can restore the structure of the craniofacial surface.
China's dental medical institutions mainly include public and private types. Public stomatological hospitals are characterized by large resource advantages, which form a strong siphon effect on patients, but the services are not rich enough; private hospitals and clinics are compared with public hospitals. The advantage is the professional and meticulous service and personal brand effect, so the development speed is very fast.
The number of private stomatological hospitals and clinics is huge, and the growth rate is fast. It is the main force driving the dental clinic industry, and it is also the main sales channel of the company CBCT.
Taking the Stomatological Hospital as an example, according to the data of the National Health and Family Planning Committee, there were 501 dental hospitals in China in 2015, including 332 private stomatological hospitals, accounting for 66%. The private stomatological hospitals are more widely covered.
From the perspective of growth rate, the layout of public stomatological hospitals is relatively stable, and the growth space is small; while the private stomatological hospitals adapt to the market demand and maintain rapid growth, the compound growth rate in 2010-2015 reached 18.85%.
In addition to private dental hospitals, there are also a large number of private dental clinics. In 2016, there were about 80,000 private dental clinics in China, and about 100,000 currently, providing sufficient market space for CBCT.
In terms of product penetration rate, the data show that there are more than 6,000 private dental clinics in Taiwan, of which 2000-2500 are equipped with CBCT, and the penetration rate is 30%-40%. The current CBCT in China is conservatively estimated to exceed 5,000 units. The optimistic estimate is About 10,000 units, with a data rate of 80,000 oral medical institutions, the penetration rate is about 7%-15%, which is still much room for improvement compared to Taiwan.
At present, the domestic CBCT market has already passed the state of 'Eve of Eruption'. The market education and cultivation stage have been basically completed, and will soon formally enter the explosive volume stage. It can be expected that the CBCT penetration rate will have a large room for improvement.
According to the data in the "2016-2022 China Medical Imaging Equipment Market Trend Research and the 13th Five-Year Development Situation Forecast Report", the number of dental medical institutions in China is about 100,000 in 2017, and the penetration rate is about 10%. The average price of an oral CT is 300,000 yuan, which corresponds to a market space of 3 billion yuan.
If the number of dental medical institutions in China reaches 150,000 in 2022 and the penetration rate reaches the ideal level of 20%-25%, the corresponding market incremental space is 6 billion to 8.25 billion yuan.
Several bull companies
Zhenghai Biotechnology Co., Ltd. is a representative enterprise of domestic dental prosthetic film. At present, the domestic dental implant market leader is a foreign-funded company, Gai Shi, which accounts for more than 70% of the domestic market. Zhenghai Biotechnology accounts for about 10%, and is in a leading position among domestic enterprises. Compared with imported products, it has a strong competitive advantage, and the future import substitution space is vast.
Tongce Medical, as of the end of 2017, the company has 23 chain hospitals, the number of dental beds reached 1,411, and the number of medical staff reached 1,944, including 16 medical doctors and 311 medical masters.
Meiya Optoelectronics, the main enterprise of oral CT. In the past, China's CBCT equipment mainly relied on imports. Meiya Optoelectronics Co., Ltd. was the first domestic manufacturer to independently develop CBCT. The company began to obtain oral CT (oral X-ray CT diagnostic machine) approval and started in 2012. Bringing the equipment to the market. Now the company has medium vision / medium and large field of view oral CBCT, 臻 (series) large field of view oral CBCT, super large field of view oral CBCT three products.
