Zhi Tong Cai Jing·2025-11-11 11:57Core Insights - The medical equipment bidding scale continues to grow, with a new round of equipment updates expected in 2025, which is anticipated to drive long-term procurement levels in the medical equipment industry [1][2][3] Industry Summary - The bidding scale for medical equipment has shown consistent growth, with significant year-on-year increases in October 2025: MRI up 2.9%, CT up 49.4%, DR up 54.4%, ultrasound up 59.9%, endoscopes up 11.6%, and surgical robots up 108.9%. Cumulatively, for the first ten months of 2025, MRI increased by 59.4%, CT by 81.6%, DR by 77.4%, ultrasound by 62.8%, endoscopes by 24.4%, and surgical robots by 42.7% [2] - Specific company performance in October 2025 shows that while Union Medical's MRI decreased by 5.9%, its CT increased by 74.7%. Mindray's ultrasound grew by 61.8%, and Kailing's endoscope increased by 96.6% [2] Policy Impact - The continuous implementation of equipment update policies is expected to significantly boost procurement levels. A joint notice from four ministries in 2024 aims for a 25% increase in medical equipment investment by 2027 compared to 2023, enhancing high-end equipment availability to levels seen in middle-income countries [3] - In 2025, the domestic market is expected to recover effectively due to policy support and increased procurement demand from medical institutions, with Union Medical reporting a revenue of 6.866 billion yuan in the first three quarters of 2025, reflecting a 23.7% year-on-year growth [3]