Updated: Mar 22
According to Equal Ocean medical report, from 2015 to 2019, China's medical device market grew from RMB 308 billion to RMB 623.5 billion, with a compound annual growth rate of 19.3%. During the same period, the global medical device market compound annual growth rate of 3.7%. China's medical device market is expected to maintain rapid growth, reaching RMB 1,229.5 billion by 2024.
The current medicine-to-device ratio in China is 1:0.31, while the global average level is 1:0.7, and the level in developed countries is 1:1. Therefore, the huge market space has given birth to huge investment opportunities in medical equipment.
According to BDDATA, as of November 31, 2020, China has had 231 medical device financings, of which more than 92 projects have financing amounts of more than RMB 100 million. In terms of financing rounds, 20% in A rounds, 27% in A+ rounds, and 38% in B rounds. Therefore, most of the medical device financing is mainly in the A and B rounds. The financing data from the Chinese market shows that large-scale financing is mainly in cardiovascular, surgical robots, neurointervention, surgical instruments, and medical imaging.