The rapid changes in China's medical and health market have brought a new wave of "horse racing" to the medical device industry. Medtronic of the United States recently completed the merger and acquisition of Kanghui Holdings (China) Co., Ltd. for 816 million US dollars, followed by the purchase of a 19% stake in Shenzhen Xianjian Technology Co., Ltd., which purchased two Chinese medical device companies within 20 days. For competitors, it heralds the arrival of a wave of integration.
Industry experts said that since 2012, due to factors such as lowering the hospital's asset-liability ratio, the expansion of public hospitals has slowed down, leading to a decline in the prosperity of standard medical equipment. However, with the new medical reform's advocacy of "treating the disease", the market prospects of preventive and health care products such as household medical devices and primary medical devices are improving and become a popular target for industry integration. Medtronic's two mergers and acquisitions of domestic medical device companies have taken China's primary medical device market as the strategic direction.
Household appliances show power in the retail market
"Now there are medical devices in the house, just like the thermometers and band-aids in the past. It is becoming more and more common." When a reporter from the China Securities Journal saw Xiaomin Huang from Beijing, he had just bought an arm-type electronic blood pressure from a pharmacy for 378 yuan meter. He told reporters that for the health care of the elderly at home, he has spent thousands of dollars to purchase many home medical equipment such as disinfection equipment, sphygmomanometer, blood glucose meter, physiotherapy equipment and so on.
The reporter noted that this electronic sphygmomanometer is produced by Yuyue Medical. The price of 378 yuan / set belongs to the midstream price of sphygmomanometer products, and the styles include wrist type, desktop type, and semi-automatic type. Although the end consumer demand has different causes, its buyers have inadvertently become a member of the ever-increasing army of household medical devices. According to research by Gao Hua Securities, the sales growth rate of China's electronic sphygmomanometer market in 2012 will be maintained at 20% -30%, which is much higher than the global medical device industry's average growth rate of about 7%. One of its important stimulating factors is the expansion of the market brought about by the intensification of aging, and the change in the concept of consumption of household medical device products.
And this is just a microcosm of the demand for household medical devices. At present, home medical equipment includes home health equipment, home health massage products, home medical rehabilitation equipment, and home care equipment, involving more than 40 product categories such as blood glucose meters, oxygen generators, sleep meters, and massage chairs. Although it does not account for a large proportion of the 700 medical device standard catalogs listed by the State Food and Drug Administration, the market size it generates cannot be underestimated. Data show that the domestic household medical device market reached 17.66 billion yuan in 2011, and is expected to reach 29 billion yuan in 2013. According to the China Medical Device Industry Association, the annual growth rate of domestic household medical devices has been continuously maintained at over 30% in recent years.
According to the research institution BCC Research, the aging trend is accelerating, and the public's expectations for improving health care in developing countries continue to increase, stimulating the popularity of household medical devices. At present, household medical devices generally tend to take the consumer electronics route. According to BCC Research, domestic home medical electronic devices are mainly portable products, and electronic blood pressure monitors, portable blood glucose meters and electronic hearing aids account for about 90% of the sales.
This is consistent with the proportion of domestic chronic disease consumption. The Ministry of Health's "China Cardiovascular Disease 2010" report shows that about 230 million people in China suffer from coronary heart disease, stroke, heart failure and hypertension and other diseases, causing nearly 3 million deaths each year; The number of diabetics in China reached 92.4 million in 2010, and the number of new patients reached 1.2 million each year, which triggered the pursuit of home medical devices.
It is worth noting that household medical equipment is different from hospital equipment, which can be sold either through retail terminals or through e-commerce platforms. The current enthusiasm of e-commerce companies such as Amazon.com and JD.com for home medical equipment sales, to a certain extent, heralds its future business prospects. And traditional chain pharmacies have also opened up e-commerce channels, and companies such as Yuyue Medical have also continued to expand the scale of self-operated stores and force the scale of sales in the retail market.
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