With a projected market size of $48 billion USD in 2015, China has become the world‘s second largest medical device market. According to a recent report by the China Association of Medical Device Industry (CAMDI), the country’s medical device market has grown at an average of 20 percent annually since 2009 and is expected to continue to grow at the same rate through 2015. Key drivers in China influencing the medical device market include a booming economy, the world’s largest population, an aging population and a revamping of the healthcare sector.
Many medical devices that have been common in North America and Europe for many years are not available yet in China, offering worthwhile opportunities for investment and partnerships. And yet, while there are many opportunities, the market has undergone recent changes with the introduction of new regulatory measures, which investors need to be aware of before entering this market.
Parallel to these issues is the rise of medical tourism, which will play a significant role in the growth of medical device sector. As increasing numbers of patients are traveling in search of better value, the need for medical devices such as knee and hip implants, pacemakers, and cutting edge innovations such as bio-absorbable medical devices, will become even greater. Key questions to consider include:
- What will happen when international patients receive devices that are not marketed in their home countries?
- How will manufacturers manage the price variations across international markets?
- How should leading device makers react to the arrival of low-cost, offshore manufacturers in medical tourism countries?
Why attend WMTC Asia-Pacific 2015?
- Explore business and investment opportunities with China’s growing medical devices sectors and learn more about the changing regulatory landscape from industry experts.
- Gain an in-depth understanding of medical tourism and the new technologies and treatments that will drive patient mobility
- Learn how medical tourism will accelerate the globalization of medical device companies
- Connect with Asia-Pacific’s medical device companies to learn about new innovations and developments
- Schedule one-to-one meetings with potential partners in advance online.