China's Expanding Biomedical Materials Industry: Where Societal Need and Market Growth Collide

August 01, 2012 | State of the Market Report

Aiming to address the huge demand of growing aging population and alleviate the burden of healthcare system, the Chinese authority has sown the seeds of next generation of biomedical material applications over its 11<sup>th</sup> Five-Year Plan. Despite this focus, domestic products currently account for less than 3% of market share although with a revenue growth rate of 15% to 18%, but regulations and financial support are further driving China’s biomedical materials and downstream industry to accelerate rapidly. With accelerated commercialization of lab innovation and industrial consolidation, China’s biomedical industry is set to rank in the top 3 in the world and a global market share of 10% to 15% by 2050. With a broad set of goals in place, a vast number of developers are emerging in specific technology domains, from tissue engineering to drug delivery, to deliver on government goals of improving the welfare of the population and continue China’s economic growth.

Coverage Areas

  • Digital Transformation
  • Energy Storage
  • Industrial Internet of Things
  • Next Generation Power
  • Owning the Energy Transition

Table of Contents

  • Executive Summary
  • Landscape
  • Analysis
  • Outlook

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