China's med-tech industry corners a big global market pie while India still explores

Healthcare and Lifesciences If China accounted for less than 3% of global trade in med-tech products in 2000, its share in global med-tech trade surged to 12.4% by 2021, amounting to nearly $40 billion. By the end of 2023, China had more than 32,000 medical device manufacturers, generating $160 billion in revenue. This growth is driven by government initiatives, strong domestic demand, and rising innovation within the country’s healthcare sector, says a Praxis Global Alliance research report. In 2024, China exported $11.4 billion of medical instruments, and the main destinations were the United States ($2.5 billion), Japan ($649 million), Germany ($600 million), Brazil ($452 million), and India ($447 million).

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