For medical device companies, the Chinese market is an obvious and inviting target.
Growth in China’s economy, in general, and its healthcare sector, in particular, has been well documented, but it’s worth taking a look at a few numbers again.
The medical device market in China is currently valued at $14 billion, and it’s expected to reach $50 billion by 2020. By that year, the Chinese middle class is expected to number 600 million, according to Damon Canfield, a principal with Columbus, Ohio-based consulting firm NPI. (Canfield, along with members of law firm Squire Sanders and trade groups BioEnterprise and BioOhio spoke Tuesday morning at an event called “Winning commercialization strategies: Paths to China.”)
To read the full, original article click on this link: Medical devices: 5 tips for commercialization in China
