From PR Newswire

The 88th CMEF in Shenzhen set to spotlight advancements in the medical equipment industry |  Updated:2023-09-26

The China International Medical Equipment Fair (CMEF), organized by Reed Sinopharm Exhibitions, serves as an excellent bridge for brands aiming to enter the Chinese market. The 88th edition of this prestigious medical event is scheduled to take place from October 28 to 31 at the Shenzhen World Exhibition & Convention Center. These exhibitors will showcase cutting-edge products and solutions to meet the significant demands in the Chinese market.

Unveiling the Powerhouse: CMEF Showcasing the Thriving South China Market's Strengths, Advantages, and Unique Attributes

The terminal market size of China's medical equipment industry surged from 308 billion yuan in 2015 to 915.4 billion yuan in 2021, with a CAGR of 19.91%, driven by the expansion of medical insurance coverage, increasing medical visits, and the establishment of a multi-level medical institution system.

China's medical equipment industry has developed several industry clusters and manufacturing belts, particularly in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) in South China, Yangtze River Delta in East China, and Bohai Economic Rim in North China, each presenting distinct regional characteristics.

With Shenzhen as the center, the R&D and production of comprehensive high-tech medical equipment in GBA boasts strong advantages. The main products developed in the region include medical imaging equipment (monitors, ultrasound diagnostic instruments, MRI, etc.), large stereotactic radiotherapy equipment (Gamma Knife, X-Knife), and tumor thermotherapy equipment. According to incomplete statistics, as of May 2022, Shenzhen has over 1,300 medical device companies with an industrial production value exceeding 80 billion yuan. The compound annual growth rate (CAGR) from 2010 to 2019 was 12.7%, more than double the national average.

The scale of China's medical equipment industry has reached 730 billion yuan and it is projected this growth will continue. The government has provided funds of 2.54 billion yuan to support 508 national key clinical specialties, including the increment of bedspace from 6.5 beds per 1000 people to 7.4-7.5 beds per 1000 people, which is a 15% of increment to meet the public health demand. While the demand is rising, there are higher requirements for healthcare technology, products, and system construction.

CMEF is dedicated to industry trends, technological innovation, and fostering future business opportunities and development, contributing to the global advancement of the medical equipment industry.

The 88th CMEF brings together international medical equipment brands, distributors, agents, manufacturers, medical professionals, and industry/government representatives from the entire industry chain. It encompasses various sectors, including medical imaging, in-vitro diagnostics, medical electronics, medical optics, hospital construction, operating rooms, disinfection and infection control, medical consumables, and orthopedics.

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