China Hospital Equipment Bidding Update April 2026

China's hospital equipment bidding fell 34% yoy in April 2026, continuing a trend of weakness that is pushing domestic brands like Mindray to seek growth overseas.

Key Takeaways

• 1.Overall bidding for medical devices in China remained weak in April 2026, declining 34% year-on-year.
• 2.Patient monitors are a bright spot, maintaining >20% yoy growth for two months due to replacement cycles and trade-in funds.
• 3.Domestic medical device brands like Mindray and United Imaging are pivoting heavily toward overseas markets to offset domestic cyclical weakness.

Table of Contents

• Read across to Mindray and United Imaging
• Detailed bidding data in nine categories
• Bidding value by brand, domestic vs. MNC
• Investment Thesis
• Price Target Risks & Methodology
• Disclosure Appendix

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