China's Medical Device Market Reaches 1.35 Trillion Yuan

Chongqing – A medical equipment conference held in Chongqing, a southwestern municipality of China, on Saturday (March 15) revealed that China's medical device market reached 1.35 trillion yuan (approximately 6.26 trillion baht) in 2024.

Xin Guobin, Vice Minister of China's Ministry of Industry and Information Technology, stated that the Chinese medical device market continues to expand, with major industry players generating revenue exceeding 540 billion yuan (approximately 2.5 trillion baht) in 2024. The sector has maintained rapid growth for nearly a decade.

Experts hold an optimistic view of the global medical device industry's development. Qiao Jie, an academician at the Chinese Academy of Engineering, projected that the compound annual growth rate (CAGR) of the global medical device market will reach 5.7% from 2024 to 2030.

Xin also emphasized the need to strengthen industrial innovation, promote the integration of medical devices with artificial intelligence (AI), and enhance the global appeal of Chinese medical products.

Notably, in China, major industrial enterprises are defined as those with an annual main business revenue of 20 million yuan (approximately 92.76 million baht) or more.

Source:
WorldViewThaiNews