American Expert Upbeat About China’s Medical Devices Prospects
This article was originally published in PharmAsia News
Executive Summary
At the China International Life Science Summit held in Hangzhou, Gerald Loeb, a biomedical engineering professor at the University of Southern California, noted that China has great opportunities to develop its medical devices industry both domestically and globally. Medical devices are classified into three categories, with Class I including single-use disposable items such as absorbent cotton and gauze. China has some 200 manufacturers producing such devices, with scale and numbers exceeding the total output in the U.S. and Europe. Loeb believed these products can help the country break into the international market. Figures show that China's medical device export in the first half of 2008 grew 35 percent to hit $5 billion, of which 30.4 and 28.3 percent went to Europe and the U.S., respectively. (Click here for more - Chinese Language)
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