China Association of Medical Equipment unveiled startling growth

Knowledge base

At the 2024 China Medical Equipment Conference held in the bustling metropolis of Chongqing, the China Association of Medical Equipment unveiled startling growth in the nation’s medical device market. Clocking in at a robust 1.27 trillion yuan ($179 billion) for 2023, this represents an impressive 10.4 percent increase from the previous year, solidifying China's status as the global runner-up in medical equipment market size.

The conference spotlighted China's rapid advancements in the production of mid-to-high-end medical equipment. Innovations are not just burgeoning; they are transforming the landscape at an unprecedented pace. For instance, the conference highlighted that in 2023 alone, there were 138,000 medical equipment patent applications filed in China, capturing a whopping 67 percent of the global total. This surge in intellectual property creation is a clear testament to the country's commitment to leading the charge in medical technology.

President Hou Yan of the China Association of Medical Equipment underscored the remarkable strides in domestic manufacturing of high-end devices, with over 40 percent now produced within the nation's borders. These advancements cover critical areas such as medical imaging and robotic surgery, crucial for both routine and complex procedures.

The development of these technologies is not only reshaping patient care in China but also slashing healthcare costs. Xia Fenghua, a senior executive from Shanghai United Imaging Healthcare Co., Ltd., noted the dual benefits of accessibility and affordability that these innovations bring to the public. Additionally, the application of domestically developed medical imaging equipment in Korla, Xinjiang has led to a significant 20 percent reduction in costs for diagnostic services. China’s prowess in medical manufacturing is beginning to echo around the world. In the 2023 "Top 100 Medical Device Companies" list, 12 Chinese firms were featured, marking a departure from the past when the nation was known more for its lower-end exports. Today, high-end Chinese medical devices are not only serving the domestic market but are also being exported to countries involved in the Belt and Road Initiative, enhancing China's influence in global medical technology.

Yet, the journey is not without its hurdles. The rapid evolution of the sector necessitates a deeper integration of various disciplines and technologies, a challenge that the industry is eager to address. To facilitate continued growth and innovation, enhanced cooperation among government bodies, industry players, universities, research institutions, and medical facilities is crucial. Academician Zhao Jizong emphasized the importance of systemic policies to foster such interdisciplinary collaborations, ensuring that China remains at the forefront of integrating medicine and engineering technologies.

As China's AI-enabled medical equipment continues to advance, it heralds a new era of healthcare — smarter, more efficient, and more accessible to all. This technological evolution promises not only to enhance the quality of healthcare services but also to propel China to the zenith of global medical innovation.