Summary

The Chinese therapeutic device market is a dynamic and expanding industry that has seen significant expansion and innovation over the years. The sheer size and diversity of the Chinese market are critical. The enormous population of China, combined with rising healthcare awareness, has fueled demand for therapeutic devices in a variety of segments. The market includes modern imaging technologies as well as home-based therapy instruments, catering to a wide range of medical needs. Furthermore, the Chinese therapeutic device market is distinguished by its quick technical improvement and innovation. Companies are constantly investing in R&D to offer new gadgets that use AI, IoT, and big data analytics to develop therapeutic solutions. This drive for innovation has led to the development of smart medical devices, wearable technologies, and telemedicine solutions that enhance patient care, promote preventive healthcare, and improve treatment outcomes. The Chinese healthcare system is undergoing considerable adjustments to improve access to healthcare services, which influences demand for therapeutic equipment. The demand for advanced diagnostic and treatment equipment is being driven by efforts to increase healthcare coverage and update medical facilities. Traditional Chinese medicine (TCM) has a long history in China, and it coexists with modern therapeutic practices. The market accepts both traditional cures and cutting-edge medical equipment, resulting in a varied environment in which ancient wisdom and cutting-edge technology coexist. The Chinese government has a tremendous impact on the healthcare industry. Domestic innovation, infrastructure development, and healthcare accessibility initiatives generate opportunities for both domestic and foreign players.

According to the research report "China Therapeutic Device Market Overview, 2028," published by Bonafide Research, the China Therapeutic Device market was valued more than USD 8 Billion in 2022. A rising number of innovative therapeutic device firms are based in China. China has experienced a spike in investment in the development of innovative medicinal gadgets in recent years. This is attributable, in part, to the government's encouragement of innovation and the rising demand for healthcare items among China's growing affluent population. The world's largest medical device cluster is located in China. Over 6,000 medical device businesses are located in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA). The GBA is a global innovation and manufacturing cluster for medical devices. Chinese customers are becoming more health-conscious and technologically smart. Personalised healthcare solutions, remote monitoring gadgets, and home-based therapy tools are in high demand, reflecting changing preferences and lifestyles. China's medical device manufacturing business is robust, producing a wide range of therapeutic devices such as imaging equipment, diagnostic gadgets, surgical instruments, and patient monitoring systems. Domestic businesses and foreign corporations with manufacturing facilities in China contribute significantly to the therapeutic device supply chain. Regulatory affairs, compliance services, and quality assurance firms play an important role in negotiating China's complicated regulatory landscape. They assist producers in gaining relevant approvals and adhering to local norms, which are required for market access and product distribution. Various government agencies, including the National Medical Products Administration (NMPA), oversee regulations, approvals, and compliance related to therapeutic devices. Their policies and guidelines shape the market landscape, affecting market entry, product development, and safety standards.

Based on product market is segmented into insulin delivery devices, dialysis equipments, IV equipments, wound care management, and others (ventilators, sleep apnea therapeutic device, respiratory care, hearing aids). Wound care management product type is expected to dominate the China therapeutic device market during the forecast period. China's population is rapidly ageing, which is increasing the prevalence of chronic diseases and ailments such as diabetes and vascular problems. These factors contribute to the increased prevalence of chronic wounds, necessitating the use of advanced wound care management devices for effective treatment. The growing awareness of the necessity of adequate wound care among both healthcare practitioners and consumers increases the demand for enhanced wound care solutions. Furthermore, growing healthcare spending makes these items more accessible, promoting their uptake. Government actions boosting healthcare access and improvements in medical infrastructure throughout China also contribute to wound care management products' supremacy. These projects make improved wound care options more accessible in hospitals and clinics. Chronic conditions like diabetes and obesity are on the rise in China, leading to an increased incidence of chronic wounds such as diabetic ulcers and pressure sores. This necessitates specialized wound care management products tailored for these conditions. There's a growing emphasis on patient-centric care and home-based healthcare solutions. Advanced wound care products that are easy to use at home or require minimal medical supervision gain popularity, catering to this trend.

The end user segment of the market is majorly categorised into hospitals and clinics, home care settings, ambulatory care centers (ACCs) and other end user. Among them hospitals and clinics are key end users of therapeutic devices and is expected to lead the end user segment of China therapeutic devices market. Hospitals and clinics offer a vast range of medical services and require a diverse set of therapeutic devices to diagnose, treat, and monitor patients. Imaging equipment, surgical instruments, and medical implants are examples of such devices. Hospitals and clinics have big budgets and can afford to buy the most cutting-edge treatment technologies. They also have the personnel and know-how to maintain and operate these gadgets. The Chinese government is dedicated to improving healthcare outcomes and encourages the use of therapeutic gadgets in hospitals and clinics. This includes money for the procurement of new medical technologies as well as training for healthcare personnel. Hospitals, especially tertiary and specialized healthcare centers, typically experience a higher influx of patients requiring advanced therapeutic interventions. This high patient volume drives the demand for a wide array of therapeutic devices to meet diverse medical needs. Based on indication market is majorly divided into wound care, diabetes, respiratory diseases, cardiovascular disorders & hypertension, cancer, pregnancy, hearing disorders, movement disorders and other indications (sleep disorders, kidney disorders, neurovascular diseases, and HIV). There are rising number of diabetes and cardiovascular disorders & hypertension patients in China and is major indication for therapeutic devices and is expected to grow at rapid pace in China therapeutic devices market.

Considered in this report:
• Geography: China
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report:
• China Therapeutic Device market with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Product:
• Insulin Delivery Devices
• Dialysis Equipments
• IV Equipments
• Wound Care Management
• Others (ventilators, sleep apnea therapeutic device, respiratory care, hearing aids)

By End User:
• Hospitals and Clinics
• Home Care Settings
• Ambulatory Care Centers (ACCs)
• Other End User

By Indication:
• Wound Care
• Diabetes
• Respiratory Diseases
• Cardiovascular Disorders & Hypertension
• Cancer
• Pregnancy
• Hearing Disorders
• Movement Disorders
• Other Indications (sleep disorders, kidney disorders, neurovascular diseases, and HIV)

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, and annual reports of companies, analyzing the government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources.

Intended audience:
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Therapeutic Device industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

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