Market & Industry Briefs
Executive Summary
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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China: The Wild, Wild East for Medical Devices
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.
Challenges and Opportunities in China's Medical Device Market
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.
Second EU MDR Notified Body Designated In France
Four years after the designation of the first notified body in France under the Medical Device Regulation, AFNOR Certification has been named too.