China has been on the medical device industry's mind this year (well, really for the past decade). And now, a new report from PharmaLive demonstrates that China is well on its way to becoming the behemoth in the medical market.
According to the report, which covers the global medical device market, China's medical device market will grow to $42.8 billion in sales by 2019 and India is expected to reach $10.7 billion during the same period.
The report says that United States is still the market leader, but it faces certain challenges: Stricter guidelines in the 510(k) process. Changes may lead to substantial cost increases and delays for product approvals. And other regulatory and governmental policies threaten to slow product development, and drive R&D offshore to less burdensome climates.
—Heather Thompson, Resource: www.mddionline.comprev:Welcome to Promise next:Travel of New Delhi and Mumbai