In 2014, the sales value of the global MRI devices reached USD 5.4 billion. The market share of Simens Healthineers was 22%, ranking the first, according to CRI. Other leading enterprises included GE Healthcare, Philips Healthcare, TMC and Hitachi Medical Corporation.
Chinese people’s ability to pay for medical services keeps growing with the development of economy. Meanwhile, with the increasing aging level in China (In 2015, the population of 65 years old and above accounted for 10.5% of the total population compared to 7.7% in 2005.) and the rising incidence of cancer and other diseases caused by the serious environmental pollution, there emerged growing demand for medical diagnostic services in China. In terms of policies, Chinese government continuously issued supporting policies for medical equipment industry with increasingly serious industry regulation.
Estimated by CRI, foreign-funded enterprises occupy 80% of China’s MRI market share. Enterprises engaging in MRI manufacturing in Chinese market consist of SSMR, Hangwei GE Medical Systems Co., Ltd. (GE wholly owned holding company), (GE wholly owned holding subsidiary), China Resources Wandong Medical Equipment Co., Ltd., Basda Medical Equipment Co., Ltd., Ningbo XinGaoYi Magnets Co., Ltd., Shenyang Neusoft Medical Systems Co., Ltd., etc.