Since 2016, China’s initiatives to solidify China’s manufacturing industry’s place concerning medical products and devices have been working. Made in China 2025 aims to encourage technological innovation, promote research and development, and attain breakthroughs in the med-tech field. As such, China’s breakthroughs in medical device technology could also mean a positive impact on ‘Made in China’ products sold here in the USA. China’s initiatives are helping China factories stay on the forefront of advancing medical products and technical devices.
This article discusses the impact of China’s initiatives and how those initiatives and changes could positively affect US companies choosing to outsource. Our team at ITI Manufacturing will remain current on China’s medical product and device market. This is our way of ensuring US companies continue to benefit in this important market segment.
Changes in Primary Care
Chinese-made devices are increasing in number in the medical industry. In China, hierarchical diagnosis continues to become more common, and resource allocation is focused on the primary level. And consequently, Chinese manufacturers of medical products continue to advance. When China’s healthcare system experiences greater localization, the demand for US-exported medical equipment becomes an emerging trend. Thus, high-end devices like Doppler ultrasound and CT equipment are now a popular investment.
What could this mean for US companies choosing to have their medical products and devices manufactured in China? It means that they can not only have products made there but can also sell there.
Government Support for Third-Party Medical Device Services
As patients’ medical examination requirements increase so will credibility requirements between patients and doctors, independent medical imaging centers, third-party inspectors, and other social service institutions. China’s current national policy initiatives are providing further support by extending limitations.
Demand for Innovative Medical Products is Increasing
Since 2009, China has seen an uptick in coronary arterial intervention cases. In 2015 mainland China’s number of interventional operations rose to over 566,000, and the average heart disease patient received an average of 1.5 implanted stents. China manufacturers make fourth generation heart stents from 100% degradable materials. Many medical industry experts believe they will eventually completely replace stents of the drug-eluting variety.
Healthcare products made in China with similar technological breakthroughs can also be utilized in the US.
Accelerated Development of Point of Care Testing
In China, POCT (point of care testing) development is proceeding at a rapid pace. Medical staff commonly use POCT products in emergency rooms, clinics, intensive care units, hospitals, and home care settings. These products can test almost all common clinical indicators, and in 2012, the global market was worth approximately $10 billion with an 8% compound yearly growth rate. China is the world’s most populous nation, and while the market is still in its early stages, there’s a great potential for further development as well as hospital penetration.
US companies with this technology will continue to advance as China’s need continues to increase.
Usage of Orthopedic Implants
The application of ortho implants also continues to grow and it is expected to remain at about 20% for the foreseeable future. In 2016, economists valued the global market for implants at over $47 billion. Moreover, they expect it to increase to almost $75 billion by 2023. Medical product breakthroughs in China can also mean breakthroughs in the US.
ITI Guarantees Exceptional Quality and Timely Delivery
At ITI Manufacturing, we are proud to act as your US company China manufacturing liaison, and to help ensure outsource-success. We’ve been helping US-based businesses successfully have their medical products, as well as many other industrial products, made in China for over 40 years. If your product is suitable for China manufacturing, you should consider partnering with us. When you partner with ITI, we GUARANTEED NO MANUFACTURING DEFECTS.
Call us toll-free today at 888-574-6823 to speak with one of our experts.