Overall situation of overseas exports

The overall overseas revenue of listed companies has a three-year CAGR of more than 25%, and the export volume will rebound significantly in 2022.

Based on the statistics of 42 domestic listed china medical device companies that have disclosed overseas revenue, the compound growth rate of overseas revenue of medical devices from 2019 to 2021 is 25.47%, and the overseas revenue scale of listed medical device enterprises in the first half of 2022 is 44.035 billion CNY increase of 67.83% over the first half of 2021.  

The proportion of overseas revenue of listed china companies has been stable at about 40% in the past three years

Under the background of the "Belt and Road" initiative and china and international dual circulation strategy, the globalization trend of domestic enterprises is obvious due to the impact of the overseas epidemic. Based on the statistics of 42 domestically listed medical device companies that have disclosed overseas revenue, overseas revenue accounted for 47.80% in the first half of 2022, and the export ratio increased significantly. Total revenue Overseas share.

Exports by segment

The average overseas revenue of enterprises in the IVD field is higher than that of traditional fields such as low-value consumables

During the epidemic, there was a large demand for products such as assay kits and epidemic prevention materials, among which the IVD industry represented by biochemical analyzers, nucleic acid detection reagents, immunodiagnostic reagents and other products had higher revenues. In the first half of 2022, the average overseas revenue of IVD listed companies was 1.478 billion CNY, of which the overseas revenue of Andon Health and Zhejiang Orient Gene Biotech reached 22.914 billion CNY and 4.980 billion CNY respectively. The average overseas revenue of listed companies in the field of low-value consumables was 642 million CNY, of which the overseas revenue of Blue Sail Medical and Allmed Medical Products reached 2.3 billion CNY and 1.369 billion CNY respectively.

Low-value consumables Home medical equipment Medical medical equipment Other instruments High-value consumables

Nearly 60% of the revenue in the IVD field comes from abroad, and the export ratio of high-value consumables and household medical equipment is less than 20%

From the first half of 2022, the overall overseas revenue of the IVD industry accounted for 57.98%, of which Andon Health and Guangzhou Wondfo Biotech accounted for 98.49% and 60.41% respectively. On the one hand, although there is still a continuous demand for diagnostic testing in China, the unexpected, centralized procurement has also made it difficult for enterprises to replicate the situation of "sudden wealth" in the early stage of the epidemic. On the other hand, after Omicron became the main epidemic strain, antigen self-test products became popular in overseas markets, driving the export and revenue growth of domestic enterprises.

The export ratio of low-value consumables with production advantages of local enterprises, as well as the gradual rise of domestic medical medical equipment manufacturers such as monitors, medical ventilators, and ultrasound, is more than 30%. In contrast, high-value consumables, as an important area of domestic import substitution, currently have an overall export ratio of less than 20%. In addition, in terms of household medical equipment, only from the perspective of Jiangsu Yuyue Medical Equipment and Supply Co., Ltd., its total revenue in the first half of 2022 was 3.553 billion CNY, accounting for only 11.43% of foreign countries, and has continued to decline since 2020, mainly due to the decline in orders for oxygen generators and other products affected by the overseas epidemic.