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Medical Monitor Industry in China Driven by Rising Health Care Demands

Date:16-01-2014

With the healthcare industry in China experiencing good growth in recent years, the medical monitor industry is also witnessing steady development. The market for medical monitors has increased steadily with greater investment in healthcare by the government and rising income levels of the population. The medical monitor market in China was valued at 3.08 billion yuan in 2011. Between 2007 and 2011, the medical market monitor market in China grew at a compound annual growth rate of 27.8%. In 2012, the market for medical monitors in China was 3.86 billion yuan which represented a year-on-year increase of 25.3%. There are many different types of medical monitors that are used for monitoring a variety of medical conditions or parameters. Medical monitors are mostly used in hospitals and health care institutions; however they are being increasingly used for home health care. Some of the most common types of medical monitors are cardiac monitors, fetal monitoring, respiratory monitors, heart rate monitors etc. By 2015, the Chinese medical monitor market is expected to reach a value of 7.42 billion yuan.

Market Overview
In China, the demand for multi-parameter monitors which can track many different vital signs at once is quite high. In fact the market for multi-parameter monitor accounted for more than 60% of the overall medical monitor market in China. Some of the factors that are contributing to the growth of medical monitor market in China are rise in population, rise in aging population and improvement in living standards. China is a major exporter of medical monitors in the world. The export volume of medical monitors between 2006 and 2012 grew at a compound annual growth rate of 22.9%. However, the country is still dependent on imports for high-end and medium-end medical imports. Foreign brands such as General Electric and Philips occupied around 80% of the high and medium-end medical monitor market.

Due to rapid economic development in the nation and rising health care demands, the medical devices and healthcare market in China has witnessed a period of rapid growth. This has in turn fueled the growth of the medical monitor market in China. Some of the major Chinese enterprises which manufacture medical monitors are Mindray Medical International Limited, EDAN Instruments Inc. and Guangdong Biolight Meditech Co. Ltd. In the future, the market for medical monitors in China is forecasted to flourish with increased use of medical monitors in home health care.

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