China's medical device industry have been strong, multinational companies rely on technological superiority to accelerate the penetration of rural areas, and concentrated in low-end market, domestic enterprises are highly profitable field of hard to break. "Monopoly of multinational high-end, domestic SMEs account for the low-end" the balance of pattern, is expected to subversion.
The first five months of 2011, four medical device companies Tung Fu Dragon (300171, stock it), Glory Medical (002,551, stock it),digital blood pressure monitor Qianshan medicine machine (300216, stock it), the rationale for the state apparatus (300,206, shares bar), or landing on GEM were small plates,digital thermometer manufacturer price-earnings ratio of more than 45 times, Tung Fu Long's price-earnings ratio is as high as 96 times. In these companies successful IPO behind lurks a lot to provide strategic or financial support of venture capital firms, many of whom Fosun (600,196, stock it), deep venture capital and other well-known venture capital companies (Table 1). Momentum has grown in the healthcare industry, medical equipment sub-sectors of the charm gradually.
IPO,digital thermometer the investment and financing event in the field is accelerating warming. Investment in the Group released the latest data: January 2010 2011 April, the medical device field of private equity financing case number and the amount of the entire healthcare industry accounted for respectively 23%, 18%, respectively, second only to the traditional strength of the pharmaceutical industry. The pharmaceutical industry's first fund of RMB CCBI medical industry funds, following the injection of the vaccine spend 100 million yuan Jiang Yin Lanling cork packaging supplies company, the ED also Wuliangye (000,858, stock it)'s Pashtoon pharmaceutical plastic packaging business investment by 1.8 billion.
Medical devices or over the pharmaceutical market growth
Favor of capital logic, the implementation of health reform is that China not only in the context of the entire pharmaceutical biotechnology industry into a rising channel, but also from the medical device industry, the development potential of the child. Data show that the global pharmaceutical and medical devices consumer ratio is about 10:7, while Europe and other developed countries has reached 1:1.02. But in China, "drug dependent doctors," the traditional model, the pharmaceutical market is far more than the medical device market, the development of both capacity and the depth does not match, the future structure of the pharmaceutical industry will occur within the trend changes. Proportion of the unsustainable rise in pharmaceutical spending, and medical equipment in the pharmaceutical sector the proportion is expected to rise.
In recent years, corporate earnings-related data and further evidence of this, Guoxin Securities analyst pharmaceutical industry studies have shown that pigeons He Ping, 2001 - 2008, the medical device industry compound annual growth rate of revenues and profits were 28% and 41 %, much higher than the pharmaceutical industry 19%, 21% of the revenue and profit growth. CICC Sun Liang expected ,2009-2015 compound growth rate of China's medical device industry will be maintained at 20-30%, the growth rate much higher than the pharmaceutical industry analyst at SW Luo predicted consumption of drugs between 2008-2015 16% compound growth rate of SWS while drug costs are expected proportion of total health care costs in 2007 from 33% to 20% in 2040.
Import substitution and in the process of upgrading, China's medical device industry is also expected to occupy more market share in the world. Currently, the global medical device market size of about $ 350 billion, dominated by the developed countries of which 78%, but China as the representative of the emerging markets are experiencing rapid growth. From the State General Administration of Customs statistics show that in 2010 China's medical equipment import and export amounted to $ 22.656 billion, an increase of 23.47%. Among them, exports 14.699 billion U.S. dollars, up 20.05%; imports amounted to $ 7.957 billion, an increase of 30.35%, the trade surplus to $ 6.7 billion.
Expansion of the cake before the market competing situation more intense. With the dividend policy of endless rural market to foreign investors coveted, high-end equipment market, highly profitable enough to allow trapped in low-end price war of domestic enterprises jealous. With both sides extending to other spheres of influence, the balance of the original change in the situation is brewing.
Accelerate the market penetration of foreign primary
The rapid development of China's medical device industry, foreign investment, joint ventures have become the main force, the top 10 export enterprises, foreign investment and joint ventures, there are seven. In the domestic large-scale medical diagnostic and treatment equipment market, General Electric, Philips and Siemens, led by three foreign-funded enterprises has an absolute monopoly. According to the Chinese market research center special survey conducted in 2007, about 80% of the CT domestic market, 90% of ultrasound, 85% of the test equipment, 90% of magnetic resonance equipment, 90% ECG, 80% of the high-end Monitor, 90% of high-grade polygraph and 60% of sleep plotter markets are dominated by multinational brands.
With the new primary care doctors offered to tilt, to broaden the population covered by rural cooperative medical care and reimbursement of the increase, multinational medical device companies invariably turn their attention to the rural grass-roots marketing, trying to rely on technology, marketing strengths, areas of low take-all high school, Through acquisitions, partnerships and other shortcuts to enter the Chinese market is the modus operandi of foreign-funded enterprises.