In 2023, China's imports of medical instruments and appliances stood at $18.27 billion. Between 2022 and 2023, the year-on-year growth rate was 8.44%, indicating a stable upward trend. Over the last five years, the compound annual growth rate (CAGR) settled at 10.19%. From 2013 to 2023, the CAGR demonstrated significant variability, peaking in 2013 at 22.35% and gradually declining, showcasing periods of both modest and robust growth.
Looking ahead, forecasts suggest that imports will continue to grow, reaching $25.17 billion by 2028. The projected CAGR over the next five years is 5.04%, with an overall growth rate of 27.89% by 2028. This suggests a tempered but steady increase in demand.
Future trends to watch for:
• Technological advancements in medical instruments and appliances driving imports.
• Growing healthcare investments and reforms in China.
• Potential impacts of global supply chain dynamics and trade policies.
