China’s portable medical device market to grow over 25% in 2013-2016
China’s portable medical device market size grew at a CAGR of 28.3% from 2008 to 2013 to CNY 44.21 billion in 2013 due to appreciative strategies, improved life styles and raising awareness. Penetration of portable medical equipment such as household glucose monitors is 10% in China as compared to 90% in developed countries such as Europe and the US. Low penetration and an increasing geriatric population are expected to maintain the growth of the portable devices market over 25% in 2013-2016. Portable glucometer, electronic sphygmomanometer and electronic hearing aid, which accounted for a share of 93.6% in 2013, and, are the three major revenue contributors for China’s portable devices market. Currently, major share of China’s portable medical device market is occupied by foreign-funded organisations such as OMRON, Japan, which had booked over 60% of China’s electronic sphygmomanometer market while China’s Andon Health captured only 15% share in 2013. Johnson & Johnson, the US and Switzerland-based Roche seized 35% and 20% share respectively of the Chinese portable glucometer market while the domestic players Yicheng Bioelectronics and Sinocare jointly captured a market share of 25%. Portable multi-parameter monitor, portable diasonograph, portable electrocardiograph, interventional medical devices, portable fetal monitor, etc. are mainly used by clinics in China with portable multi-parameter monitor and portable diasonograph contributing a major market share of 32.5% and 25% respectively in 2013.
(Image Courtesy: Portable Medical Device)
Read the full article at Medgadget