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.
By Mary Stuart
"The medical device market in China is like the Wild, Wild, West," says Ty Hu, MD, founder and CEO of InnoMed, a new stent start-up in Shanghai. "It’s growing like...
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