Medical Devices - An Important Market for my country's Injection Molding Industry

The expansion of my country's medical device market in recent years has been significant. The market size has been steadily increasing, reaching over 120 billion yuan in 2011 and more than doubling to 242 billion yuan in 2012. It is expected to reach 597 billion yuan in 2017, making it the third largest market in the world after the United States and Japan.

The medical device industry is a crucial component of the healthcare sector, involving various industries such as medicine, electronics, machinery, Powder Metallurgy, and plastics. It is a product of modern high-tech technology, integrating digitization, computerization, multidisciplinary, and cross-field expertise. Medical devices play a vital role in providing medical services such as detection, monitoring, treatment, and adjustment, and are crucial for clinical diagnosis and treatment.

The rapid development of the medical device market can be attributed to several factors. Firstly, the aging population in the country has led to an increased demand for healthcare services. The government has implemented reforms in the medical system and introduced policies to improve the medical environment and conditions for citizens. Additionally, there has been a growing awareness of health among the population, leading to the adoption of various medical instruments in households, such as fat measuring instruments, blood pressure monitors, blood glucose detectors, and physiotherapy instruments.

From a policy perspective, the government has set targets for the expansion of non-public medical institutions and county-level hospitals. The 12th Five-Year Plan aims to increase the number of beds and service volume of non-public medical institutions to 200% of the total number of medical institutions by 2015. The "Healthy China 2020 Strategy" also outlines the launch of seven major medical system projects with a budget of up to 400 billion yuan, including significant investments in the technical configuration of county-level hospitals. These policies will drive the procurement demand for medical equipment, further fueling the growth of the domestic medical device industry.

The development of the medical device industry has also had a positive impact on the powder injection molding industry. Medical devices require precision parts and sensors, and the accuracy requirements are high. Powder injection molding is capable of producing high-precision medical parts that meet the requirements of small size, high density, complex shape, and high mechanical properties. Therefore, the growth of the medical device industry will increase the demand for injection molded parts. The injection molding industry will continue to find opportunities in the medical device market in the future.

Overall, the rapid development of my country's medical device market has been driven by various factors such as demographic changes, healthcare reforms, and increased awareness of health. The government's policies and investment in the healthcare sector have further stimulated the growth of the medical device industry. This growth, in turn, has provided opportunities for related industries such as powder injection molding. The medical device market will continue to be an important market for my country's injection molding industry in the future.