Frost & Sullivan Frost & Sullivan China has warmly congratulated Guangzhou Colerady Medical Equipment Co., Ltd. (stock code: 920072.BJ) on its successful listing on the BSE. The company provides medical device solutions for radiotherapy and rehabilitation therapy, with its main business involving the research, development, production, and sales of radiotherapy positioning devices in tumor radiotherapy and rehabilitation assistance devices. Upholding the mission of “benefiting human health and improving quality of life,” after over twenty years of development, the company has established three technical platforms: basic material technology, product application technology, and intelligent technology, forming two product lines focused on radiotherapy and rehabilitation therapy. Frost & Sullivan hereby extends its congratulations on the company’s successful listing.
Guangzhou Colerady Medical Equipment Co., Ltd. (hereinafter referred to as “Colerady”) issued 14.8 million shares through public offering. After the issuance, the total share capital becomes 76.6 million shares, with an issue price of 15.62 yuan per share, resulting in a total fundraising amount of 231 million yuan for new shares.
PART/1
Investment Highlights
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In the field of radiotherapy, the company aims to improve the accuracy of radiotherapy positioning. It has positioned its products at key stages affecting “positioning and placement” in the radiotherapy process, and has successfully transformed from a single product manufacturer into a comprehensive solution provider. Its product line covers the entire process and scenarios of radiotherapy.
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In the field of rehabilitation therapy, based on external fixation aids, the company actively builds a full-cycle operation management model for foot and spine rehabilitation, including assessment and screening, custom fitting of foot and spine braces, follow-up of wearing effects,spine curvature treatmentand rehabilitation training. The goal is to create a one-stop foot and spine rehabilitation service system.
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The company is a national-level specialized “little giant” enterprise, a single champion enterprise in Guangdong’s manufacturing industry, a national high-tech enterprise, a Guangdong Provincial Medical Biomaterial Engineering Technology Research Center, and a Guangdong Provincial Doctor Workstation. It has independent R&D capabilities, established lean production lines, and can quickly formulate production plans according to customer needs, providing products and services promptly.
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As of the end of the reporting period, the company has obtained 148 patents (145 domestic patents and 3 foreign patents), including 47 invention patents (44 domestic invention patents and 3 foreign invention patents). Two Class III and five Class II medical device products have been registered.
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In the field of radiotherapy, the company has become one of the leading enterprises in the global radiotherapy positioning industry. According to Frost & Sullivan’s industry research report, in terms of sales volume, in 2023, the company ranked third globally in the position fixing product segment with a market share of 7.0%, and first in China with a market share of 42.5%. The company is also one of the few manufacturers in the industry that simultaneously possesses position fixing products andradiotherapy positioning systemsproduction capacity.
Frost & Sullivan has long focused on the global and Chinese radiotherapy medical device industry and has published numerous research reports, which are widely used in the prospectuses of leading BSE listed companies, helping clients grow faster.
PART/2
Market Size of Radiotherapy Supporting Medical Devices
According to the functions of equipment during radiotherapy, radiotherapy-related medical devices are divided into radiotherapy equipment,radiotherapy simulation machines, radiotherapy positioning systems, radiotherapy supporting devices, and radiotherapy supporting software. Radiotherapy supporting devices mainly include position fixing products, radiotherapy quality control equipment, and radiotherapy markers, which can improve radiotherapy accuracy and better support precise radiotherapy for patients.
From 2019 to 2023, the total market size of global radiotherapy supporting medical devices excluding large medical equipment increased from 1,186.8 million US dollars to 1,746.0 million US dollars, with a compound growth rate of 10.1%. It is expected that the global market size of radiotherapy supporting medical devices excluding large medical equipment will reach 4,814.2 million US dollars by 2030, with a compound annual growth rate of 15.6% from 2023 to 2030.
Global Market Size of Radiotherapy Supporting Medical Devices from 2019–2030
(Excluding Large Therapeutic Medical Devices)
Source: Frost & Sullivan analysis
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Market Size of Radiotherapy Position Fixing Products
Before radiotherapy, patient positions need to be fixed using radiotherapy positioning products to ensure appropriate positioning. Common position fixing products include body positioning bags/mats/vacuum negative pressure bags, radiotherapy positioning films, radiotherapy fixers, radiotherapy positioning balls, and thermoplastic fixing plates.
From 2019 to 2023, the global market size of position fixing products increased from 273.5 million US dollars to 352.9 million US dollars, with a compound growth rate of 6.6%. It is expected that the global market size of position fixing products will reach 402.7 million US dollars in 2025 and 613.8 million US dollars by 2030.
Global Market Size of Radiotherapy Positioning Products from 2019–2030
Source: Frost & Sullivan analysis
From 2019 to 2023, the market size of position fixing products in China increased from 167.4 million RMB to 256.1 million RMB, with a compound growth rate of 11.2%. It is expected that the market size of position fixing products in China will reach 345.6 million RMB in 2025 and 854.5 million RMB by 2030, with a compound annual growth rate of 31.1% from 2023 to 2030.
Chinese Market Size of Radiotherapy Positioning Products from 2019–2030
Source: Frost & Sullivan analysis
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Market Size of Radiotherapy Positioning Systems
Radiotherapy positioning systems are a general term for a series of devices used in the radiotherapy process to ensure treatment accuracy. Their core function is to ensure the precision of tumor target positioning, improve the accuracy of radiotherapy planning, and guarantee the safety and effectiveness of radiotherapy. Radiotherapy positioning systems mainly include image guidance systems and laser positioning systems.
From 2019 to 2023, the global market size of radiotherapy positioning systems increased from 103.3 million US dollars to 277.0 million US dollars, with a compound growth rate of 28.0%. It is expected that the global market size of radiotherapy positioning systems will reach 1,278.4 million US dollars by 2030, with a compound annual growth rate of 24.4% from 2023 to 2030.
Global Market Size of Radiotherapy Positioning Systems from 2019–2030
Source: Frost & Sullivan analysis
Note: The market size of image guidance systems only includes external (or external-mounted) devices, excluding the guidance method built into accelerators.
From 2019 to 2023, the Chinese market size of radiotherapy positioning systems increased from 74.4 million RMB to 216.6 million RMB, with a compound growth rate of 30.6%. It is expected that the Chinese market size of radiotherapy positioning systems will reach 478.7 million RMB in 2025 and 1,444.5 million RMB by 2030, with a compound annual growth rate of 31.1% from 2023 to 2030.
Chinese Market Size of Radiotherapy Positioning Systems from 2019–2030
Source: Frost & Sullivan analysis
Note: The market size of image guidance systems only includes external (or external-mounted) devices, excluding the guidance method built into accelerators.
