Chinese Medtech Manufacturers Seek to Capture Greater Market Share in Advanced Devices Sector

Healthcare reform initiated by the Chinese government in 2009 has spawned a booming market for medical technology in China. The country’s medical market recorded a stunning 23% growth rate in 2010, according to Pharmnet.com. The medtech market, which is currently valued at more than 100 billion RMB, is forecast to double in value over the next five years, according to analysts cited by Pharmnet.com, and the high-end medical equipment sector, which includes CT and MRI equipment, is expected to benefit enormously from surging demand. Some manufacturers in China fear that this will disproportionately benefit multinational corporations, which have an approximate 80% market share of high-end medical equipment sales in China. Developers and manufacturers of home-grown systems want to change that dynamic.

Read the rest of this post at MedTech Insider