Chinese Medical Equipments Market On Rise

 

China's medical equipment market is a very niche export market. Currently, China is ranked 3rd largest medical equipment exporter in the world with over 7.5% share of total global medical equipment exports. The Chinese medical device market is very immense. As per China trade data, Diagnostic imaging (40%), Consumables (17%), Patient Aids (14%), Orthopedics/Prosthetic (6%) and others (20%) were the major medical equipment exports by total export share.

While, as per import export data reports, globally the United States and Germany are the top two medical equipment exporters with 33% share of global medical equipment exports. During the covid outbreak in 2020, China's medical equipment exports were up by 40%. In 2021, it declined by 31%. Whereas in FY 2022, the medical equipment exports had seen a 20% growth. 

According to the China import export data, around 98 billion dollars medical equipment exports were made by China in 2022. As per last year China customs data reports, exports were estimated at 84 billion dollars in 2021 and 123 billion dollars in 2020. The major markets for China's medical equipment exports were the United States, Japan and the United Kingdom.

The major medical equipment exports includes Electro-diagnostic apparatus, Syringes, Dental Drill Engines, Electro-cardiographs, Instruments used in dentistry etc. There was frequent demand for China's personal protective equipment exports. These include respirators, surgical masks, hospital gloves, medical goggles, shoe covers, protective garments, etc.

As per China export data reports, India is a prominent medical device importer. China along with the United States, Germany, Singapore, and Netherlands were the top exporter of medical devices to India. According to the China import data, Singapore and Netherlands were the major medical products exporters to China.

According to the India export data, medical devices exports from India reached 2.9 billion in the financial year 2022. Experts predict Indian medical devices exports to reach 10 billion dollars by 2025. 

As per India import data, there was a 40% increase in the imports of medical devices from India in FY22. Respiratory apparatus, measuring, checking instruments, surgical devices, needles, cannulae, catheters, general parts, accessories for X-Ray generators were the major medical devices imports and exports made by India in the fiscal year 2022.

Our India import export data records suggest that Wipro GE healthcare, Johan digital, Novartis AG, Medtronic India, Johnson & Johnson were the top import export companies from India. The major markets for India's medical devices imports were China, United States, Singapore, Germany and the Netherlands. Whereas for exports, the top destinations were the United States, Germany and the Netherlands.

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