2021 China Low-Value Medical Consumables Industry Market Size and Development Prospect Forecast Analysis

China Business Intelligence Network reports: Low-value medical consumables refer to disposable sanitary materials frequently used by hospitals during medical services, including disposable syringes, infusion sets, blood transfusion sets, drainage bags, drainage tubes, indwelling needles, sterile gloves, surgical sutures, surgical needles, surgical blades, etc.

Market Size

Benefiting from the continuous attention of Chinese residents to medical health and the gradual improvement of domestic medical standards, the domestic low-value medical consumables market has experienced high growth in recent years. According to statistics from the Medical Device Research Institute, the domestic low-value medical consumables market size increased from 37.3 billion yuan in 2015 to 64.1 billion yuan in 2018, with a compound annual growth rate of 19.78%, far exceeding the global growth level. The China Business Industry Research Institute predicts that the market size of low-value medical consumables in China will reach 92.73 billion yuan by 2021.

Market Share

According to relevant data from the Medical Device Research Institute's "China Medical Device Blue Book (2019 Edition)", injection and puncture products hold the largest share in the low-value medical consumables market in China, accounting for 30% of the market, followed by medical hygiene materials and dressings, which account for 22%.

Future Development Prospects

1. The introduction of industry policies promotes the development of large-scale enterprises

The "Healthy China 2030" Planning Outline clearly emphasizes the key deployment of domestic production of medical devices and deepening reforms in the medical device circulation system and approval and evaluation system. Meanwhile, the medical device sector is an important part of the 13th Five-Year Plan. The Ministry of Science and Technology issued the "13th Five-Year Medical Device Science and Technology Innovation Special Plan," proposing five major tasks including developing cutting-edge key technologies and leading medical device innovation. It specifically requires leading international frontier technologies and accelerating disruptive technological innovation. On the other hand, regulation in the medical device industry is becoming increasingly stringent, further standardizing the market. Inferior and disorderly small enterprises will be continuously eliminated, which in the long run benefits the development of large-scale, technologically innovative, and well-managed outstanding enterprises.

2. Industrial chain transfer helps domestic medical device manufacturers integrate into the global value chain

Low-value medical consumables are low-value disposable medical materials widely used across multiple clinical disciplines and belong to a fully competitive industry with a relatively high degree of marketization. Compared with other medical device sectors, low-value medical consumables are diverse in types and have relatively low product added value. Therefore, the global industrial chain is gradually shifting to developing countries like China, which have lower labor costs but higher production efficiency.

3. Global population aging and increasing chronic disease prevalence drive rising medical demand

The global population is entering an aging phase, with the number and proportion of elderly people increasing in almost every country worldwide. Along with the increase in the elderly population, the incidence of various chronic diseases (such as cardiovascular and cerebrovascular diseases, diabetes, tumors, etc.) is rising year by year, and the number of patients receiving diagnosis and treatment as well as hospitalizations is rapidly increasing. The large base of patients, especially those hospitalized, provides a huge market space for the medical device industry, particularly for disposable infusion medical devices such as syringes and infusion sets.