Core Insights - The report emphasizes that the Chinese medical device industry is transitioning from rapid domestic growth to a more stable development phase, driven by increasing pressure from medical insurance funding and comprehensive payment reforms. As a result, "going global" has become a strategic necessity for advanced domestic manufacturers [2][3] - The report highlights that the Chinese medical device sector has developed the hard power necessary for global competition, with high-end equipment and high-value consumables rapidly establishing their presence in global supply chains. The increasing share of overseas revenue will become a core indicator of growth and valuation for medical device companies [2][3] Group 1: Market Growth and Strategic Shifts - The medical device market is expected to reach CNY 941.7 billion by 2024 and CNY 1,813.4 billion by 2035, with a CAGR of 6.14% from 2024 to 2035. The global market is projected to grow from USD 623 billion in 2024 to USD 1,157.6 billion by 2035, with a CAGR of 5.80% [17] - Domestic companies are accelerating their international expansion due to internal pressures, including the impact of centralized procurement policies that have significantly reduced prices in the domestic market [21][22] Group 2: International Expansion and Challenges - The report notes that many domestic high-value consumables are gaining FDA and CE certifications, indicating a growing international recognition of Chinese manufacturing capabilities. This trend is particularly evident in Southeast Asia and South America, where companies are gaining experience before tackling more stringent markets like the EU and the US [3][4] - The report discusses various patent disputes faced by Chinese companies during their international expansion, highlighting the challenges of overcoming established international competitors' patent barriers. This includes cases involving major companies like Mindray and Times Angel [27][28] Group 3: Product Categories and Market Dynamics - High-end medical devices, such as imaging equipment and surgical robots, are leading the charge in international markets, with companies like United Imaging and Mindray making significant strides in Europe and the US [3][4] - The report indicates that the demand for high-value consumables is increasing, with companies focusing on innovation and clinical effectiveness to enhance their competitive edge in global markets [4][5] Group 4: Supply Chain and Localization Strategies - The establishment of global marketing networks and supply chain systems is essential for the international success of medical device companies. This includes setting up local subsidiaries, warehouses, and production bases in key markets [3][4] - The report emphasizes the importance of academic promotion and clinical trials in gaining market acceptance, particularly in high-end markets where local healthcare systems may require extensive clinical data for reimbursement [32][33]