China medical electronics revenue is expected to be double by 2016

Published:2012/10/25 22:02:00 Author:Ecco From:SeekIC

The market researcher IHS iSuppli China Research predicted that China’s medical electronics industry revenue would be double in 2016.

According to the analysis from IHS, medical electronics was a $4 billion industry in China during 2011, up 19.6 percent on a year-over-year basis. And the revenue is expected to reach $4.8 billion this year, up 18.4 percent. However, Beijing has recently implemented a series of policies as part of its Five-Year Plan for the Medical Device & Equipment Industry. Thanks to recent government policies, the market is predicted to reach $7.4 billion by 2016, equivalent to a five-year compound annual growth rate of 13 percent.

The Ministry of Health also issued the Ministry of Health which indicated overall spending on public hygiene is expected to represent as much as 7 percent of China’s gross domestic product by 2020, which amounts to approximately $63.5 billion. At the same time, IHS said R&D investments among domestic firms are increasing, and leading Chinese companies are shifting from low-end to more sophisticated medical products.

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