Infinity Remote
Infinity Remote
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US $16.90
Medical Devices Market in China 2009-2013
With the aid of advanced technologies, innovative devices have been introduced in the medical field. These medical devices have been broadly classified as medical disposables, surgical equipment, diagnostic equipment, laboratory devices and diagnostics, dental equipment, and ophthalmic equipment.
According to TechNavio, the market for Medical devices in China is forecast to reach $25,770.9 million by 2013 from $16,677.0 million in 2009, growing at a CAGR of 11.5 percent over the forecast period.
Rapidly growing technology, increasing demand for innovative medical devices together withaging population and prevalence of chronic illness are very important growth drivers for the medical devices market in China. Growing health awareness among consumers and support from government through various initiatives are also very significant factors that drive this market.
The Chinese government is taking many initiatives by investing in healthcare projects to improve the country's healthcare standards and provide adequate healthcare facilities. The aim is to improve the overall healthcare infrastructure and provide access to the latest medical equipment and facilities. The government also funds the construction of clinics in remote village areas and expansion of health insurance programmes to cover all rural residents. With such a strong government support, the Chinese Medical devices market is poised for a tremendous growth.
Many Medical devices companies are concerned with outsourcing issues such as loss of information, confidentiality, and control over the quality of manufacturing or clinical trials. In addition, companies are also concerned with intellectual property thefts, as the patents become invalid once the manufacturing units move outside the US or Europe. The products are under the risk of design piracy by the local Chinese manufacturers, resulting in mass
production of low-cost devices.
The report by TechNavio Insights forecasts the size of the Medical Devices market in China over the period 2009-2013. Further, it discusses the key market trends, drivers and challenges of this market, and profiles some of the key vendors in the same.
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