Beijing - Saba:
China's medical equipment market will reach 1.35 trillion yuan (approximately $188.2 billion) in 2024, according to a medical equipment conference held in southwest China's Chongqing Municipality.
"This promising market continues to witness remarkable expansion," said Shen Guobin, Vice Minister of Industry and Information Technology, according to the Chinese news agency Xinhua.
"The combined revenue of major companies with annual main business revenues exceeding 20 million yuan in the medical equipment sector will exceed 540 billion yuan in 2024, reflecting rapid growth that has continued for nearly a decade."
Experts expressed optimism about the global development of the industry, with the global medical equipment market expected to grow at a compound growth rate of 5.7% between 2024 and 2030.
Shen called for intensified efforts to promote industrial innovation, advance the integration of medical equipment with artificial intelligence technology, and increase the attractiveness of Chinese products in foreign markets.
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