WTCBN has created a program aimed at increasing the export growth of medical device companies. The project will assist medical device companies through:
- Industry education and training tailored to increase awareness of the regulatory and standards environments in China and other countries
- Marketing assistance and industry consultations
- Informational forums, trade shows and trade missions
- Trade service delivery with emphasis on international marketing and sales for the China market
- The Chinese government has mandated US $124 billion to develop basic healthcare infrastructure in hopes of providing every Chinese national the basic healthcare coverage that they deserve by 2020.
- The Chinese also view foreign, particularly U.S. medical device companies as more credible than their Chinese counterparts. Over 20,000 hospitals need to upgrade their medical equipment and over 30,000 county-level hospitals need new equipment.
- The China Association of Medical Devices Industry states that China’s medical equipment market grows at 15% annually, and reached a total size of RMB100 billion in 2010 (about US$15.8 billion), ranking 2nd in the world behind the US due to the great demand for medical equipment, the growing aging population and the stimulation and implementation of China’s healthcare reform.
- An annual sales growth of large, high-end, medical equipment was reported to be between 20%-30%. The production volume in China of low-mid range medical equipment and products ranked #1 in the world at 75%; high-end products only accounted for 25%, showing that the majority of medical equipment and products produced by domestic Chinese manufacturers are mostly low-tech.
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