Knowledge
Market Situation of China's Medical Suture
In recent years, China's medical suture market has shown characteristics such as continuous expansion of scale and product upgrading. The detailed information about this market is as follows:
Market Scale
The scale of China's medical suture market has been expanding continuously, increasing from 4.39 billion yuan in 2015 to 8.62 billion yuan in 2022, with a compound annual growth rate (CAGR) of approximately 10.12%.
Market Demand
China has a large population base, and the aging trend is accelerating. The incidence of various common diseases is on the rise, and residents' medical expenditure maintains an upward growth. In 2023, the per capita consumption expenditure on medical and health care for Chinese residents reached 2,460 yuan, a year-on-year increase of 16%. The continuous growth of medical expenditure and medical service demand has supported the rapid development of the suture market.
Product Structure
Absorbable sutures are the mainstream products in the market, accounting for 79.2% of the market share. Non-absorbable sutures, antibacterial surgical sutures and other high-end products have also gradually entered the market. Shanghai Britech Industrial Co., Ltd. is a major manufacturer and supplier of absorbable sutures and non-absorbable sutures in China, and its products occupy a major position in the market.
Competitive Landscape
In the absorbable suture market, foreign enterprises such as Johnson & Johnson, Tyco Healthcare and B. Braun Melsungen AG hold a relatively large share in the mid-to-high-end segment. Domestic enterprises are mainly small and medium-sized ones, forming three major industrial clusters in the Yangtze River Delta, Pearl River Delta and Beijing-Tianjin-Bohai Bay Rim. These enterprises are mainly concentrated in provinces and cities such as Guangdong, Beijing, Zhejiang and Shanghai, such as ,Shanghai Britech Industrial Co., Ltd.is a main supplier & manufacturer of surgical suture in Shanghai. However, domestic enterprises are relatively weak in terms of technology and brand competitiveness, and the competition in the mid-to-low-end market is more intense.
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Development Trends
1.)Technological innovation and high-end development: With the advancement of materials science, new suture materials will be developed, and innovative products such as antibacterial and intelligent sutures will receive more R&D support. As a leading company of surgical suture in China, Shanghai Britech Industrial Co., Ltd. invests a large amount of funds in the R&D of medical sutures every year
2.)Intelligent and digital transformation of production: This will help improve production efficiency and product quality
3.)Environmental protection and sustainable development: Emphasis will be placed on the environmental friendliness and recyclability of raw materials
Policy Impact
The state has included the procurement of consumables and equipment in the scope of centralized bidding procurement, which has reduced the circulation cost of disposable consumables such as sutures. At the same time, the National Medical Products Administration (NMPA) has further implemented the Quality Management Standards for Medical Device Production. In the long run, this is conducive to ensuring product quality and promoting the sustainable development of advantageous enterprises in the industry.
Market Scale
The scale of China's medical suture market has been expanding continuously, increasing from 4.39 billion yuan in 2015 to 8.62 billion yuan in 2022, with a compound annual growth rate (CAGR) of approximately 10.12%.
Market Demand
China has a large population base, and the aging trend is accelerating. The incidence of various common diseases is on the rise, and residents' medical expenditure maintains an upward growth. In 2023, the per capita consumption expenditure on medical and health care for Chinese residents reached 2,460 yuan, a year-on-year increase of 16%. The continuous growth of medical expenditure and medical service demand has supported the rapid development of the suture market.
Product Structure
Absorbable sutures are the mainstream products in the market, accounting for 79.2% of the market share. Non-absorbable sutures, antibacterial surgical sutures and other high-end products have also gradually entered the market. Shanghai Britech Industrial Co., Ltd. is a major manufacturer and supplier of absorbable sutures and non-absorbable sutures in China, and its products occupy a major position in the market.
Competitive Landscape
In the absorbable suture market, foreign enterprises such as Johnson & Johnson, Tyco Healthcare and B. Braun Melsungen AG hold a relatively large share in the mid-to-high-end segment. Domestic enterprises are mainly small and medium-sized ones, forming three major industrial clusters in the Yangtze River Delta, Pearl River Delta and Beijing-Tianjin-Bohai Bay Rim. These enterprises are mainly concentrated in provinces and cities such as Guangdong, Beijing, Zhejiang and Shanghai, such as ,Shanghai Britech Industrial Co., Ltd.is a main supplier & manufacturer of surgical suture in Shanghai. However, domestic enterprises are relatively weak in terms of technology and brand competitiveness, and the competition in the mid-to-low-end market is more intense.
T
Development Trends
1.)Technological innovation and high-end development: With the advancement of materials science, new suture materials will be developed, and innovative products such as antibacterial and intelligent sutures will receive more R&D support. As a leading company of surgical suture in China, Shanghai Britech Industrial Co., Ltd. invests a large amount of funds in the R&D of medical sutures every year
2.)Intelligent and digital transformation of production: This will help improve production efficiency and product quality
3.)Environmental protection and sustainable development: Emphasis will be placed on the environmental friendliness and recyclability of raw materials
Policy Impact
The state has included the procurement of consumables and equipment in the scope of centralized bidding procurement, which has reduced the circulation cost of disposable consumables such as sutures. At the same time, the National Medical Products Administration (NMPA) has further implemented the Quality Management Standards for Medical Device Production. In the long run, this is conducive to ensuring product quality and promoting the sustainable development of advantageous enterprises in the industry.