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The Future (Ours) is in China for Medtech

PatrickDriscoll

2 Min Read

The importance of China in the global economy became apparent this week, with the ups and downs of its economic state tripping the hair trigger that financial markets have for the huge nation’s growth market.

The importance of China in the global economy became apparent this week, with the ups and downs of its economic state tripping the hair trigger that financial markets have for the huge nation’s growth market.

But in hard terms, what does that mean? As an example, look at spine surgery technology and compare the forecasted growth in sales in China not against the much lower U.S. market but against other high-growth Asia-Pacific markets such as India and Japan. Below is the balance of spine surgery technology sales (encompassing cervical fusion, thoracolumbar implants, minimally invasive spinal fusion, interbody fusion, and orthobiologics) for 2014 and forecasted for 2021 for China, India, and Japan.

Spine Surgery Sales by Country, 2014 & 2021

Source: MedMarket Diligence, LLC; Report #M540

The size of the pie slices should say enough, knowing what countries we are talking about, but in hard numbers, Japan’s annual sales in 2021 will be $243 million higher than they were in 2014, but China’s 2021 spine surgery sales will be $536 million higher than in 2014.

The overall size and growth in China’s medtech market, including spine surgery, demands a business strategy to gain sales there, since no other market worldwide is expected to drive so much new revenue.

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By PatrickDriscoll

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I serve the interests of medical technology company decision-makers, venture-capitalists, and others with interests in medtech producing worldwide analyses of medical technology markets for my audience of mostly medical technology companies (but also rapidly growing audience of biotech, VC, and other healthcare decision-makers). I have a small staff and go to my industry insiders (or find new ones as needed) to produce detailed, reality-grounded analyses of current and potential markets and opportunities. I am principally interested in those core clinical applications served by medical devices, which are expanding to include biomaterials, drug-device hybrids and other non-device technologies either competing head-on with devices or being integrated with devices in product development. The effort and pain of making every analysis global in scope is rewarded by my audience's loyalty, since in the vast majority of cases they too have global scope in their businesses.Specialties: Business analysis through syndicated reports, and select custom engagements, on medical technology applications and markets in general/abdominal/thoracic surgery, interventional cardiology, cardiothoracic surgery, patient monitoring/management, wound management, cell therapy, tissue engineering, gene therapy, nanotechnology, and others.