Expanding In China’s Medtech Market: Where To Go From Here

Already the fourth largest medtech market in the world, China’s $17 billion medical device industry is expected to more than double in size in the next five years, paving the way for incredible opportunities for growth. But entering or expanding within this market is not without its challenges: identifying where the opportunities lie, navigating the tendering process, and determining the right sales and distribution models are all essential for achieving profitable gain in the Middle Kingdom.

One of the hottest health care markets in the world, China currently claims the number four spot in the global market with a $17 billion medtech industry, a market that is expected to more than double in size within the next five years. This remarkable growth is largely attributable to the country’s increasing government health care spending, underpinned by robust economic growth, which has led to improved health care access and infrastructure, as well as the ongoing expansion of public insurance coverage and infrastructure for less developed parts of the country. Beyond the growth in government spending, patients’ ability to afford better medical care has increased. The Economist Intelligence Unit Ltd. estimates that, by 2015, there will be more than 100 million households in China earning more than $15,000 per year, up from fewer than 35 million today, with growth expected to accelerate to over 40% per year.

As the Chinese health care industry grows and improves, the market potential for international medtech companies looms large. But for...

More from Global Vision

More from In Vivo

Strategic Surprises: The Drugs That Rewrote The Forecasts

 

Many assets do not meet their pre-launch predictions, either exceeding or falling short of their forecast sales. In this article, In Vivo highlights several historic examples and the factors that influenced their unexpected performance.

Podcast: “They Are Able To Keep Their Body”: Medipost On Its Stem Cell Therapy Vision

 

In Vivo spoke with Edward Ahn, CEO of Medipost, a Korean company that has developed stem cell therapies from cord blood, on how they are working across regulatory markets to provide a novel treatment for degenerative diseases.

Can Italy Shake Off Its Reputation And Become A Premier Hub For Biotech?

 
• By 

Leading industry experts have spoken to In Vivo about how investment, a change in mindset and a fresh approach to policy may allow Italy to kick-start its biotech ecosystem.