China’s general surgery device market: government regulates pricing Wed, 31st Aug 2022 Article tags General surgerySurgical deviceAsiaChina Segmentation Surgical Devices TrackerSurgical GatewaySurgical Procedure Volume SegmentationThe Gateway Recovery in surgery volume is driving market growth for general surgery devices in China, with surgery volume growing fastest in Tier 3 and Tier 4 cities, followed by Tier 2 cities. Surgery volume increased by more than 20% in 2021 compared to 2020. Other surgery areas growing at more than 20% in 2021 are orthopaedics, gynaecology and neurological and cardiac surgery. Government regulations on pricing, such as the volume-based procurement (VBP), remain one of the biggest challenges to growing and maintaining market share in China. The 2021-2022 takeaways from Surgical Gateway: VBP has had a mixed effect on general surgery market segments: from a steep price fall of around 70% for energy blades when implemented in Guangxi in December 2021, to an accelerated market shift, from the use of open mechanical cutters, to endocutters.Minimally invasive surgery adoption is increasing, resulting in higher growth rates for endoscopic products, compared to its open surgical counterparts. The endocutters market segment is growing more than twice as fast as the open mechanical cutters one.Multinational company (MNC) brands maintained their leading position in Tier 1 cities, but have faced increasing competition from domestic brands.MNCs will need to strengthen their market position in the Tier 3 and 4 cities, with many domestic players closing in on the share of the market in customer segments, such as Class 2 hospitals in Tier 3 and 4 cities. Competition is intensifying between domestic players and MNCs in Tier 2 cities. Domestic companies have also captured higher market share than MNCs in Tier 3 and 4 cities for certain segments, such as open mechanical cutters, absorbable and non-absorbable sutures.Fast-growing domestic players to watch include Ezisurg, Fenghe and Reach Surgical for the open mechanical and endocutters market segment; Holycon, Jinhuan and Wego in the wound-closure market. Quarterly Company InsightsQuarterly Company Insights (QCI) provides in-depth reports on China’s top IVD companies’ localised commercial activities in core labs, point-of-care testing, molecular and tissue diagnostics to help you understand the key players’ dynamics in the world’s largest emerging IVD market. Find out more Wed, 31st Aug 2022 Article tags General surgerySurgical deviceAsiaChina Segmentation Surgical Devices TrackerSurgical GatewaySurgical Procedure Volume SegmentationThe Gateway
Quarterly Company InsightsQuarterly Company Insights (QCI) provides in-depth reports on China’s top IVD companies’ localised commercial activities in core labs, point-of-care testing, molecular and tissue diagnostics to help you understand the key players’ dynamics in the world’s largest emerging IVD market. Find out more