Group 1 - The industry investment rating is "Outperform the market" and is maintained [7] - The report highlights the significant growth potential in the Chinese dental medical service market, with a projected market size of approximately RMB 1,740 billion by 2027, growing at a compound annual growth rate (CAGR) of 15.2% from 2022 to 2027 [53][54] - The report emphasizes the increasing penetration of Cone Beam Computed Tomography (CBCT) in dental practices, with the current ownership estimated at around 67,000 units, expected to grow to 150,000-200,000 units in the medium to long term [55][58] Group 2 - The report indicates that the number of dental medical institutions in China has shown a recovery, with a year-on-year growth of 10% in the first three quarters of 2024 [41][43] - It notes a significant disparity in the economic conditions of dental institutions between first-tier cities and lower-tier cities, with lower-tier cities experiencing higher growth rates [48][49] - The report suggests that the demand for CBCT equipment is expected to increase, with annual sales projected to maintain around 20,000 units, leading to a market size of approximately RMB 3-4 billion [58][62] Group 3 - The report discusses the high domestic localization rate of CBCT equipment, which has become essential in various dental treatment areas, including implants and orthodontics [25][37] - It highlights the competitive landscape, where domestic brands are gaining recognition and market share against international brands in the CBCT market [39] - The report recommends focusing on Meiya Optoelectronics, which has a strong presence in the dental imaging equipment market and a growing digital health platform [62][63]
口腔设备专题:CBCT市场空间测算
China Post Securities·2024-12-12 01:32