Phillips Posts

Chinese Market Gets Hotter for Medical Devices

Mark Crawford

Citigroup Global Markets recently surveyed nearly 400 Chinese hospitals (about two percent of the country’s total) from 29 provinces and cities about attitudes toward the medical equipment market, medical consumable market, hospital construction cycle, and county-level hospital market.

Among the key findings:

“We estimate the total market size of the 11 medical equipment segments we surveyed to be about U.S. $5 billion in 2012, and expect the Chinese medical device market to grow about 17% in 2012 on 12% annual growth in medical equipment and 25% annual growth in medical consumables, largely driven by: 1) purchasing budget growth in Class-3 hospitals; 2) county-level hospital upgrade and expansion driven by government investments; and 3) a solid hospital construction cycle in 2012-15,” wrote Citigroup. (more…)