Medical device manufacturing in China: Trends and developments
China’s medical device market has grown significantly, reinforcing its position as a global manufacturing leader . By the end of 2023, China had more than 32,000 medical device manufacturers, generating RMB 1.16 trillion in revenue. This growth is driven by government initiatives, strong domestic demand, and rising innovation within the country’s healthcare sector. Local giants: Powerhouses in medical device manufacturing in China Chinese medical device companies benefit from robust government support under initiatives such as the “Made in China 2025” strategy, which aims to reduce reliance on imports and foster domestic capabilities in high-performance medical equipment. In 2023, 11 Chinese companies were ranked among the world’s top 100 medical device companies based on their annual revenues from medical devices and supply-related segments. Leading companies in China have made significant investments to advance in various medical technology fields. For instance, Mindray Medi...