China World Technology Medical Equipment Service Group
Analysis of the global medical device market in 2021: Affected by the COVID-19 epidemic, tariff reductions and exemptions in various countries, domestic exports are promising
Medical equipment is a high-tech industry and is one of the industries that our country encourages the development of. The instrumentation industry and the medical equipment industry are like a pair of brothers. The two intersect and influence each other. Some scientific equipment companies also have medical equipment business. Recently, Qianzhan Industry Research Institute released a "Analysis Report on Market Demand Forecast and Investment Strategic Planning of China's Medical Device Industry", through which we conducted a brief analysis of the global medical device industry market.
Countries around the world issue measures to reduce or exempt medical device import tariffs
From 2011 to 2019, the export value of my country's medical equipment and equipment has increased year by year. In 2019, my country's medical equipment and equipment exports were US$12.924 billion, a year-on-year increase of 13.2%. In the first quarter of 2020, in response to the global spread of the new coronavirus pneumonia epidemic, in response to the urgent demand for medical devices, as of April 6, 2020, 13 countries and regions around the world have issued measures to reduce or exempt medical device import tariffs. The composition of exports to domestic enterprises is positive.
1.Industrial chain analysis of the medical device industry
The medical device industry is a high-tech industry, involving multiple industries such as medicine, machinery, electronics, and plastics. The production process is relatively complex and the entry barrier is high. It is one of the signs of a country’s manufacturing and high-tech cutting-edge level. Industries that the state encourages the development of. Technical progress, corporate growth and market expansion in the medical device industry are closely related to upstream and downstream industries. Specifically, the upstream of the medical device industry involves electronics manufacturing, machinery manufacturing, biochemistry, materials and other industries; the midstream is related to the R&D, manufacturing, sales and service industries of medical devices; the downstream is the medical and health industry, which has huge demand.
2.Under the influence of the epidemic, countries have issued measures to reduce or exempt medical device import tariffs.
In the first quarter of 2020, after the situation of the novel coronavirus pneumonia epidemic was brought under control in China, it gradually swept other countries around the world. Facing the explosive growth in the number of new infections, all countries are facing unprecedented challenges. According to the World Customs Organization, in response to the urgent demand for medical devices, as of April 6, 2020, 13 countries and regions around the world have issued measures to reduce or exempt medical device import tariffs.
3.The export value of the domestic medical device industry is increasing year by year, and the export situation is favored under the influence of the epidemic
The medical device industry is one of the key industries encouraged by my country. Data shows that from 2011 to 2019, the export value of medical instruments and devices in my country has increased year by year. In 2019, the export value of medical devices and devices was US$12.924 billion, a year-on-year increase of 13.2% . Affected by the epidemic, the demand for medical devices in foreign markets has increased. The tariff reduction and exemption policies for imported medical devices issued by some countries are beneficial to the exports of domestic enterprises. Data show that in the first quarter of 2020, my country's medical equipment and equipment exports were 2.672 billion U.S. dollars, of which exports in March were 1.067 billion U.S. dollars.
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