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BONEZONE: China Becomes Vastly Improved Player

The People’s Republic of China, by some estimates, has already surpassed Japan to become the second largest medical device market in the world after the U.S. Experts estimate that the medical device market in China will grow between 15 to 20 percent annually over the next five years. Despite a recent drop in economic growth, China’s economy is still on the upswing, and so is its medical device market. One could say that it is out of control. On the contrary, it’s not.

China's medical device market is growing fast, and the competition is fierce. Companies seeking to enter the market or expand their business need to understand the following changes in the industry.