SHANGHAI, May 15, 2023 /PRNewswire/ -- The 87th edition of the China International Medical Equipment Fair (CMEF) has opened its door to the world in Shanghai. Hosted from May 14 – 17th, the show once again brought together the latest and the great solutions created to drive innovations and push the boundaries of the healthcare field to address the medical challenges of today and tomorrow.
With around 5,000 global manufacturers spanning the healthcare supply chain, the CMEF organized by Reed Sinopharm Exhibitions is unparalleled in its scale, boasting an exhibition hall covering over 320,000 square meters and attracting a crowd of 200,000 visitors from around the world.
The CMEF of this year provided visitors with products across several categories, including medical imaging, electronic medical equipment, hospital construction, medical consumables, orthopedics, rehabilitation, emergency rescue, and animal care.
Leading medical imaging solutions were displayed by companies such as United Image and SIEMENS. GE presented 23 new imaging devices, while Mindray showcased its transport ventilator and multi-scenario solutions for hospitals. PHILIPS exhibited medical imaging, operating room, emergency, respiratory, and anesthesia equipment. OLYMPUS presented their latest endoscopy equipment, while Stryker showcased their robotic-assisted orthopedic surgery system. Illumina displayed their Genetic Sequencing System for diagnostic testing, EDAN showcased their ultrasound imaging devices, and Yuwell presented their Anytime glucose monitoring system.
China's medical industry is poised to enter its next level of comprehensive open collaboration
Over 30 provincial governments in China have released reports highlighting initiatives to overhaul the medical sector and boost healthcare standards for both urban and rural residents. The new measures will focus on preventing severe diseases, managing chronic diseases, building national and provincial medical centers, implementing volume-based procurement for drugs and medical consumables, and upgrading county hospitals, which are expected to propel the development of China's medical industry in 2023.
In Q1 of 2023, China's medical device market revenue reached an impressive RMB 236.83 billion, representing an 18.7% increase compared to the same period in 2022, consolidating China's position as the world's second-largest medical device market. Additionally, the revenue generated by Chinese medical device manufacturing has grown to RMB 127.95 billion, which is a year-on-year increase of almost 25%.
The global medical device market is projected to reach a value of USD 600 billion by 2024, driven by increasing awareness of healthcare and healthy lifestyles, as well as Chinese companies eying global expansion. The value of medical products exported from China reached RMB 444.179 billion from January to November 2022, which represented an increase of 21.9% compared to the same period last year.
Industry professionals can look forward to the next edition of CMEF slated to be held in Shenzhen this October. The 88th CMEF will once again unite leading players in global medical equipment under the same roof, offering an unparalleled platform where attendees can learn creations of some far-sighted technologies aimed at bringing meaningful changes to the livelihood of worldwide patients.
For more information, please visit https://www.cmef.com.cn/en