China Medical Device Market
The comprehensive study by GMI Research asserts that the China Medical Device Market will experience robust growth over the forecast period. This is because of the accelerating incidences of various incurable diseases such as cancer and diabetes.
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China Medical Device Market Dynamics
Growth in the China Medical Gloves market is attributed to individuals' sedentary lifestyles, which has raised the incidences of chronic diseases such as diabetes and cancer. For example, nearly 116 million adults in China were suffering from diabetes in 2019. Also, healthcare organizations are increasingly emphasizing elevating the treatment rate via their educational programs. According to the Chinese Government, the overall disbursement on public health increased from 15.2%.
In accordance with the National Health Commission, China, the nation had nearly 4,975,633 public hospitals and 1,890,913 private hospital beds, accounting for a surge of 16% and 83%, respectively, since 2015, which has elevated the market growth. Besides this, the intensified research and development in the healthcare sector to introduce the latest and user-friendly medical instruments to treat chronic diseases. The intensified investment by healthcare agencies and market players to launch compact and wearable devices that patients can use easily at home without any professional assistance will further strengthen the market size.
However, the association between sophisticated devices with several other instruments such as chips, batteries, and sensors, demands periodic substitution. Thus, the high maintenance and setup cost may raise the treatment price for the patient, which may restrain the market growth.
End-User Segment Drivers
Based on the End-User, the hospital and clinics segment is anticipated to lead the market with the highest share. This is due to the accelerating number of community and multispecialty hospitals. For instance, the World Health Organization, China stated that they have hospital beds at a level of 4.31 per 1000 people. In addition, the growing focus of government and medical agencies to provide timely treatment to their patients has surged the awareness among the population.
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