The global medical device industry market size may reach 800 billion US dollars by 2027

Guangzhou, August 9 (Xinhua) (Reporter Wang Jian) "The global market size of the medical device industry is expected to reach 800 billion US dollars by 2027." Xu Shan, Secretary General of the China Medical Device Industry Association, stated on the 7th Guangzhou International High end Medical Device Exhibition (hereinafter referred to as "Gaoyi Exhibition") on the 9th that as the market size of the industry grows, the proportion of the high-end medical device market is increasing year by year, showing an important trend for future development.

Exhibition site. Courtesy of the Organizing Committee of the High School Medical Exhibition

On that day, the High Tech Medical Exhibition with the theme of "Innovating High end and Winning the Future" opened in Guangzhou. The exhibition is organized by the China Medical Device Industry Association and other organizations. The exhibits cover seven high-end brand exhibition areas, including medical imaging, medical devices, medical consumables, in vitro diagnostic products, rehabilitation and elderly care equipment, household medical devices, medical manufacturing and design. Over 350 high-end medical device brands participated in the exhibition.

Endoscopic surgical robots, orthopedic surgical robots, intelligent anti fall vests... At the High Tech Medical Exhibition, advanced medical equipment, rehabilitation care and elderly care equipment and other exhibits have attracted the attention of many buyers. Among them, the endoscopic surgical robot is the most popular "star of popularity" on site. It is composed of an image platform, a patient surgical platform, and a doctor's console. It adopts a 4-arm suspension design, and through advanced operating systems, allows the surgeon to have a first-angle 3D stereoscopic vision, combined with force perception presentation components, allowing the surgeon to provide more accurate surgical treatment for patients.

Exhibition site. Courtesy of the Organizing Committee of the High School Medical Exhibition

At the same time, activities such as the China Medical Device International Cooperation and Development Forum, the 2023 China In Vitro Diagnosis Industry Global Development Forum, the China Surgical Robot Industry Summit Forum, the China Medical Device Intelligent Manufacturing and Design Forum, the China Medical Device Industry Tendering and Bidding Trends Conference, and the first South China Cancer Medical Health Research High Quality Development Forum were also held at the Gaoyi Exhibition.

At the event, Xu Shan, Secretary General of the China Medical Device Industry Association, stated that although China has made significant progress in the high-end medical device market, it still faces some challenges, such as pressure from centralized procurement, competitive advantages of multinational companies, supply chain uncertainty, and increasing domestic brand awareness.

Zhou Wei, Vice President of Guangdong Baihe Medical Technology Co., Ltd., stated that the exhibition will further promote cooperation and exchange among various enterprises in the medical device industry. By sharing experiences, exploring innovation, and strengthening cooperation, we can jointly promote breakthroughs and progress in medical device technology and make greater contributions to the cause of human health. (End)