China's Medical Device Market Rises to Second Largest Globally; 23 Low-P/E Ratio Stocks Retreat Over 20% Year-to-Date

Source: Securities Times

People's Financial News, November 25th: On November 25th, Frost & Sullivan (referred to as "Sullivan") released the "2025 Blue Paper on the Current Status and Trends of China's Medical Device Internationalization" (referred to as the "Blue Paper"). The Blue Paper shows that with the acceleration of population aging, the upgrading of medical needs, and technological innovation, the market size of medical devices in China and globally has shown a steady growth trend and will gradually unleash enormous potential.

According to Sullivan's data analysis, the medical device market size in China has been increasing year by year in recent years, and it has risen to become the world's second-largest market after the United States. From 2020 to 2024, the overall market size of China's medical devices has increased from 729.8 billion RMB to 941.7 billion RMB, with a compound annual growth rate of 6.6%. It is expected that by 2035, the overall market size of China's medical devices will reach 1.81 trillion RMB.

According to statistics from the Securities Times·Data Treasure, as of the close on November 24, the A-share market value of the medical device industry in China was 1.38 trillion yuan. In terms of valuation levels, there are 45 medical device stocks with a rolling price-to-earnings ratio (PE) below 40 times. Among them, 13 stocks have a rolling price-to-earnings ratio of less than 20 times, includingAndon Medical、Kangdelai、Intco Medical、Olympic Medical、Well Lead Medicaletc.

Among the 45 medical device stocks with rolling P/E ratios below 40, as of the closing price on November 24 compared to their yearly highs, 23 stocks have retraced more than 20%. Among them, five stocks have retraced over 30%, respectively.Eyebright Medical、Medlander、Sinocare、Angiess、Jafron Biotech。