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China has the second largest economy in the world with a GDP of over $6.9trillion (2007). With a population of over 1.3 billion and steady economic growth, China has become the fastest growing medical markets in the world.

China has already become the world's third largest producer of Computed Tomography machines.  The value of the medical electronic market of China reached RMB24.68bn in 2007, up by 17.1% year-on-year.

Global leading CT scanner makers, such as GE, Siemens and Philips, all have entered China's market and have incorporated locally. The domestic companies, including Neusoft and Anke, are also competing hard to mark their position in the the fiercely competitive market. But china?s own products even though cheaper are far behind their foreign counter-parts in their technology. The foreign companies still dominate the top level of the market.

According to China's 10th "Five-Year Plan" for the Medical Equipment Industry, the production value of China's medical equipment would be RMB100bn in 2010, 5% of the world market, and China would replace Japan to be the second largest medical equipment market in the world.

Publisher: Dr Nitha Thejal

Source:
Author: Dr Nitha Thejal
Date: Tuesday, November 04, 2008