Global Research ab 30 October 2025 First Read China Medtech Q325 wrap: revenue/NP YoY decline narrowed; equipment segment outperformed Q325 revenue/NP largely flat YoY; equipment outperformed consumables/IVD We analysed the Q325 results of 109 A-share medtech companies, with revenue down 0.5 YoY (vs. -0.7% in Q225) at median level. By segment, equipment saw robust revenue growth in Q325 (+10.4% YoY), potentially due to tender recovery in the last few quarters. IVD continue to shape revenue decline, -13.1% Y ...