Compared with developed countries, China's medical device industry started relatively late, but has benefited from huge domestic demand and has consistently shown high growth for many years, presenting many investment opportunities.

Compared with developed countries, China's medical device industry started relatively late, but has benefited from huge domestic demand and has consistently shown high growth for many years. Especially with the increase in per capita disposable income of Chinese residents in recent years, the increasing medical demand brought about by aging population, and the improvement of medical insurance coverage and depth, China's demand for medical devices continues to increase. Currently, it is the second largest medical device market in the world, with a market growth rate higher than the global market size growth rate. The proportion of per capita consumption of drugs and medical devices in China is only 1:0.35, which is far below the global average of 1:0.7 and even lower than the level of 1:0.98 in developed countries. Compared to the global average, there is still a double gap, and the development space of China's medical device market is extremely broad. In 2019, the market size of China's medical device industry was 623.75 billion yuan, and it is expected to exceed 900 billion yuan in 2022. In recent years, it will still maintain a growth rate of over 20%.