The country is trying to supplant the United States as the world leader in this sector.
It’s becoming more and more difficult for Western companies to make their way into this competitive market.
Access to the IVD market in China is lengthy and complicated.
The president’s tariffs on imports, especially steel and aluminum, could increase input production costs, making products more expensive.
Although the market is expected to experience strong growth, the quality of care is inconsistent.
Economic development in China has created a burgeoning middle class that demands higher standards of living.
While Western countries still have more medical device startups than the rest of the world, more new medtech startups are popping up in Asia than ever before.
The President’s actions (or distractions) may be detrimental to Western medical device companies.
With the increase of diabetes prevalence in Asia and the rise of Asia’s middle classes, the demand for newer and better treatments will provide opportunities for Western medtech companies.
As standalone software becomes increasingly sophisticated, a number of regulatory bodies have begun to draft separate guidelines to ensure quality control, expedite product approval, and improve patient access to new technologies.