Market & Industry Briefs
Brief summaries of recent medtech market and industry developments. This month we cover a new report on China's health care market and CMS' new topics for possible national coverage determinations.
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Every medical device company is asking, "How can we take advantage of emerging opportunities in China?" Given the country's economic and population booms--China is home to one fifth the world's population--many analysts expect its medical device market to shortly come into full bloom, enjoying a compound annual growth rate of 15% over the next 10 years from a base of approximately $10 billion in 2007. Fueling this growth are positive improvements in China's business climate, making China a much less risky place to do business. Multinational firms are forming alliances in China to help them reach an untapped 1.3 billion patient population, even as a new breed of venture capital-backed, Western-style Chinese companies begins to grab a home court advantage.
China's medical device market is now the world's third largest, behind only the US and Japan, and some predict that China may well surpass Japan within a decade. Delving beneath the surface of China's medtech industry reveals a complex and steadily maturing dynamic, and a market that may be considerably larger than estimates suggest.
FDA ODSP details “data, research results, and other information” it needs on NAC that could sway proposing a rulemaking to allow its continued use in supplements. One detail missing is what the agency’s asking for are NDI notifications for NAC.