2023 China's medical equipment market reached a record 1.27 trillion yuan ($179B), a 10.4% increase, making it the world's second-largest single market.
China's medical equipment market reached a record 1.27 trillion yuan ($179 billion) in 2023, according to the China Association of Medical Equipment, marking a 10.4% increase from the previous year. The country has become the world's second-largest single market for medical equipment, with over 138,000 medical equipment patent applications in 2023, representing 67% of global applications. Domestically produced equipment is now responsible for more than 40% of high-end medical equipment in fields such as medical imaging, robotic surgery, and clinical testing.
March 29, 2024
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