The Market Demand for Rehabilitation Medical Equipment Is Released

Rehabilitation medicine, preventive medicine, health medicine, and clinical medicine are collectively referred to as the "Four Major Medicines". Rehabilitation medicine is a discipline to eliminate and reduce human dysfunction, makeup and rebuild human dysfunction, and try to improve all aspects of human function, whose service targets are mainly people with disabilities or patients with major diseases.

In developed countries, the rehabilitation industry has become a more mature medical system, while that in China started very late and is currently in the early stages of development, which presents the status quo of low capital investment, insufficient supply, the small scale of rehabilitation institutions, and backward supporting equipment.

But it is worthy of recognition that the construction of rehabilitation medical institutions in China has developed rapidly. In addition, since the Ministry of Health initiated the hospital review work in the 1990s, it required the establishment of rehabilitation medicine departments in tertiary hospitals, which strongly promoted the construction and development of rehabilitation medicine departments at all levels of hospitals. These medical institutions, together with grassroots community health service centers and township health centers, constitute the basic network of rehabilitation medical services. With the improvement of the national economy, the deepening of health awareness, and the reform of the medical system, medical rehabilitation in China is a market with great development potential, which is expected to reach a scale of above 100 billion yuan in 2023.

Rehabilitation Medical Equipment Is Essential Equipment for Rehabilitation Medicine

Rehabilitation medical equipment is a necessary equipment for rehabilitation medicine, which is mainly used for evaluation training and treatment in rehabilitation medicine to help patients speed up the recovery of physical functions, reduce recurrence rate, and reduce complications. From 2014 to 2018, the scale of China’s rehabilitation medical device market grew from 11.5 billion yuan to 28 billion yuan, with a CAGR of 24.9%, as one of the segments of the industry that maintains the rapid growth. It is certain that the demand for rehabilitation equipment will be released at an accelerated pace with the improvement of the rehabilitation awareness of the public and the increase of aging, which is estimated that the scale of the rehabilitation medical equipment market will reach 67 billion yuan in 2023.

The Domestic Medical Rehabilitation Market Awaits Further Exploitation

Due to the late start of the rehabilitation industry and the influence of national perceptions, the domestic rehabilitation market has not been fully exploited at this stage, which can be seen from two aspects. First, people’s awareness and acceptance of medical rehabilitation is low. Second, the per capita cost of rehabilitation is also low, much lower than that of developed countries in Europe and America.

According to related surveys, nearly 24% of residents in China are completely unaware of rehabilitation, and only 26% of residents have a correct understanding of rehabilitation. Only 3% of residents often try about the well-known physical therapy treatments, and 62% of residents have never thought of trying. Statistics show that in 2017, the domestic per capita expenditure on rehabilitation medical care was approximately 5.5 US dollars, far lower than the average expenditure of 54 US dollars in the US.

The Government Takes Measures to Promote the Development of the Rehabilitation Medical Industry

The work report of State Council in 2020 pointed out that it is necessary to actively promote payment by group related to disease diagnosis, medical rehabilitation, chronic mental illness, and other long-term hospitalizations are paid per bed per day, and outpatient special chronic diseases are paid per head to minimize the medical expenses during the rehabilitation process. In addition, public hospitals in some places are actively transforming into rehabilitation hospitals under the guidance and support of the government.

Medical Rehabilitation Market Is Huge, And the Elderly Rehabilitation Market Has Attracted Much Attention

China is a populous country with 214 million elderly people, more than 85 million people with disabilities, and more than 50 million people with chronic diseases. In addition, there are at least 15 million newborn babies every year, at least 15 million women who need postpartum rehabilitation, and more than 40 million orthopedic surgeries each year. Such a huge demand will surely make rehabilitation a huge industry. And population aging has become the main trend in the evolution of the population structure. In the future, disabled and semi-disabled elderly will become the key group of rehabilitation services.

It is predicted that the population over 60 in China will reach 250 million in 2020. Among them, about 100 million elderly people have rehabilitation needs. At present, more than four-fifths of the people in need of rehabilitation cannot receive formal rehabilitation in time.

With the continuous surge in market demand and the increase in support policies, rehabilitation equipment has received market attention as an important tool to improve the quality of life of the disabled and the elderly.

There Are Still Many Problems in the Development of the Domestic Rehabilitation Medical Device Industry

Although the field of rehabilitation medicine has been developed in China for more than 40 years, it is still a new industry as a whole, with many problems that need to be solved urgently.

First of all, the current domestic R&D investments of rehabilitation medical equipment are still mainly low-end products, without the core technology. Relevant data shows that the R&D expenses of domestic rehabilitation medical device companies accounted for 9.03%, 8.92% and 8.59% of operating income in the same period, in which Xiangyu Medical’s ratios were 9.71%, 8.03%, and 6.02%, all of which were less than 10%. Compared with the entire medical device field, these proportions are really not high. The average ratio of R&D investment to operating income of Shanghai Microport Endovascular Medtech, a listed company on the Science and Technology Innovation Board, in the past three years is 26.94%; and the data of Sino Medical during the reporting period are 45.82%, 34.17%, 31.80%, and 35.26%, which are all significantly higher For rehabilitation medical equipment manufacturers.

Therefore, under such circumstances, domestic rehabilitation products are highly homogenized and lack innovation. In addition to the popular medical rehabilitation robots in recent years, the main products of most rehabilitation medical device manufacturers are still traditional sound therapy, phototherapy, electrotherapy, magnetic therapy, PT, OT, and rehabilitation assessment.

In addition, the business models of domestic rehabilitation medical device manufacturers mostly rely on agency sales and distributor models, causing a gap between the department demand and the supplier's supply. The department required by the manufacturer has not done it, but the department sold by the manufacturer cannot be used. When competing with international rehabilitation products, domestic rehabilitation products lack innovation and the industry structure is fragmented, undoubtedly at a disadvantage in terms of technology R&D and capital investment.

LEARN MORE:

Rehabilitation Robot

https://www.globalmarketmonitor.com/reports/531611-rehabilitation-robot-market-report.html

Cardiac Rehabilitation Device

https://www.globalmarketmonitor.com/reports/589679-cardiac-rehabilitation-device-market-report.html

Custom Reporting

https://www.globalmarketmonitor.com/request.php?type=9&rid=0