The medical apparatus industry is generally under pressure, but it also breeds new development opportunities. In 2024, the medical apparatus industry has experienced a critical period of market verification. Faced with the delay in the procurement of medical equipment invite tenders, the normalization of volume procurement and the challenges of macroeconomics, the industry growth is facing no small pressure. Arterial think tank observed three significant changes in the industry: First, the momentum of industry growth is changing, and the profit margin of mature products is being squeezed, which requires enterprises to carry out more refined operation management of mature products. At the same time, the market penetration rate of differentiated innovative products is increasing. Enterprises are actively seeking to enter the track of high growth. Enterprises with multi-level and comprehensive solutions are better able to adapt to market changes. Secondly, the trend of industry clearing is intensifying. In 2024, the survival pressure of innovative medical apparatus enterprises will increase. Many enterprises have begun to explore the road of transformation, and the trend of mergers and acquisitions in the industry is also accelerating. Third, from the perspective of payment, medical insurance control fees have become the general trend, and centralized procurement and normal operation have become the key factors that determine the survival of enterprises.

In order to gain a deeper understanding of the development direction of domestic medical apparatus, this report will review the development of the medical apparatus industry in 2024 from multiple dimensions such as macro market environment, access reform, track change, investment and financing trends, and overseas exploration, and look forward to the industry trend in 2025. Overall, the field of innovative medical apparatus is the track of Changpo thick snow. Only with perseverance and patience can we usher in the fruits of growth.