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China Overview
Item Population GDP (official exchange rate) GDP (PPP) Health expenditure Value of Exports Value of Imports $6,600 USD (2009 est.) $216 USD per capita (WHO 2006) $1.194 Trillion USD (2009 est.) $921.5 Billion USD (2009 est.) 128 121 2 4 Quantity 1.32 Billion $4.814 Trillion USD (2009 est.) Rank in the World 1 3
Industry Snapshot
$28 billion USD market forecast for 2014 Industry output about $12billion, up 31.4% in 2008 Annual sales about $11 billion, up 31.3% in 2008 13,000+ Chinese manufacturers 160,000+ distributors Chinese Capacity remains low in high-end products 90% of value-added high-tech devices (70% of Chinas medical device market) are foreign made.
Source: China Chamber of Commerce for Import & Export of Medicine and Health Products
Future Trend-Opportunities
Increasing government expenditure on health
- Health Reform ($124 billion USD, during 2009-2012)
Mergers and JVs with overseas companies for lower end market
- Medtronic JV with Shangdong Weigao - GE JV with Shangdong Xinhua - Phillip JV with Shenyang Neusoft
Restrictions:
Restricted investment: blood bag etc, more cautious examination. Strict regulatory requirements: registration, user directions, packaging, labels, and advertisement, GMP requirements of medical device products, etc. Other challenges: advertising
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Challenges
Highly competitive market numerous foreign and domestic players Highly fragmented market immature, regionalized distribution IP protection issues, including enforcement Efficiency issues with regard to product registration and testing Lack of international brand recognition Uncertain regulatory environment characterized by frequent change Inconsistency regarding tender service fees, commissions, and government procurement Language Time necessary to nurture contacts and partnerships
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Contact Us
Contact us today 110+ years of experience 150+ cities worldwide 18 regional offices across Canada
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Thank You
James Kim
Trade Commissioner Embassy of Canada 19 Dong Zhi Men Wai Beijing 100600 Tel/Tl: +86 (010) 5139-4132 Fax/Tlc: +86 (010) 5139-4450 Email:James.Kim@international.gc.ca Website: www.tradecommissioner.gc.ca
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