13 Feb 2023
The Chinese medical device market is one of opportunities. It is both large and growing. China is among the ten largest medical devices markets worldwide and is regarded as one of the most promising markets. According to Global Data Analysis, the market value of medical devices in China is expected to amount to USD43bn in 2022. The market is expected to grow at a CAGR of more than 5% in the coming years. This fast-growing industry is expected to continue on an upward trajectory, supported by multiple drivers including ageing population; rising incomes; technological improvements and the development of clinic and hospital services. Due to the COVID-19 pandemic, there was a rapid surge in demand for a range of medical devices in the past few years.