What Happened in China's Medical Supplies Import and Export in 2024?

Overall Trends

• Trade Volume: From January to September 2024, China’s medical device import and export trade grew by 0.27%. Export volume slightly declined by 0.07%, while imports increased by 0.67%.
• Main Export Markets: Asia accounted for 32.88% of exports, with the United States as the largest single export market at 25.02%. Medical consumables made up 45.17% of total exports.
• Main Import Markets: Europe held the largest share at 42.76%, with the United States as the leading single import market at 22.77%. Medical equipment accounted for 45.14% of total imports.

Key Markets

1. Asia Market
   
   • Export value reached 67.619 billion RMB, accounting for 32.88% of total exports, though it declined by 21.22% year-over-year.
   • In September 2024, Asia remained the largest export market, representing 31.36% of exports.
2. Europe Market
   
   • From January to September, Europe remained the largest import market for China, accounting for 42.76% of total imports.
   • Imports from Europe increased by 10.57% month-over-month in September, indicating sustained demand.
3. RCEP & Belt and Road Initiative (BRI)
   
   • RCEP Countries: Trade volume reached 87.07 billion RMB in the first nine months, accounting for 22.36% of total trade, down 22.13% year-over-year.
   • Belt and Road Countries: Total trade volume was 76.617 billion RMB, accounting for 19.67% of global trade, declining by 18.55% year-over-year.
4. Key Countries
   
   • The United States, Germany, and Japan remained China’s top trading partners, collectively accounting for over 50% of global medical device trade.
   • The United States was the largest single market for both imports and exports.

Key Products

1. Exports
   
   • Medical Consumables: Representing 45.17% of total exports, they remain the core export category.
   • Dental Equipment: Showed minimal decline, reflecting stable global demand.
2. Imports
   
   • Medical Equipment: Accounted for 45.14% of imports, the primary imported category.
   • IVD Reagents & Instruments: Imports far exceeded exports, highlighting high demand for advanced medical products.

Regional Performance

1. Shanghai
   
   • Led the nation with a total trade volume of 120.516 billion RMB, solidifying its position as China’s core region for medical device trade.
   • Held the largest share of imports among all provinces.
2. Guangdong Province
   
   • Recorded the highest export value at 54.688 billion RMB, playing a critical role in China’s medical device exports.
3. Yangtze River Delta (YRD)
   
   • Accounted for 55.46% of the national trade volume in September, showcasing robust trade activity in the region.

Key Insights

1. Changing International Market Demand
   
   • While Europe and Asia remain key markets, declining exports highlight the need for improved supply chain and market strategies.
2. Product Innovation
   
   • High demand for imported high-end medical equipment and reagents underscores the need for domestic product innovation and technological upgrades.
3. Policy and Regional Strength
   
   • Coastal provinces like Shanghai, Guangdong, and Jiangsu continue to lead the nation’s medical device trade.
   • Trade with BRI and RCEP countries reflects China’s focus on strengthening regional economic cooperation.
     
     

For more updates on medical supplies and trade news, visit: www.wyglobal-trade.com.