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Why Are Multinational Medical Companies Moving Into China? In recent years, multinational medical device companies like Boston Scientific, Medtronic, and Johnson & Johnson have expedited the localization process in China. They have not only set up R&D centers and production bases but also forged a wide range of cooperative relations with Chinese local enterprises. Overall, China's huge market size and potential, favorable policies and business environment, complete industrial system and supply chain advantages, as well as the diversification of market demand and consumption upgrading are the four drivers attracting multinational medical device giants to settle in our market.
As the world's second-largest economy, China, with a population of over 1.4 billion, has a medical and health market with considerable scale and potential, which undoubtedly attracts multinational medical equipment giants. Particularly in wound care, surgery, and other segments, the market demand for advanced dressings and other products shows an explosive growth trend.
The Chinese government attaches great significance to the development of the medical device industry and has introduced a series of policies to encourage foreign investment. From tax incentives, facilitating market access to intellectual property protection, it provides a favorable policy environment for the development of multinational medical equipment enterprises in China.
China has a comprehensive industrial chain and supply chain system that can provide efficient and low-cost production support for enterprises. In the field of medical devices, China has formed a complete industrial chain from raw material supply, parts manufacturing to machine assembly. This advantage enables multinational medical equipment enterprises to find high-quality suppliers and partners in China, reducing production costs and enhancing market competitiveness.
The diversified demands of the Chinese market also offer a broad space for the development of multinational medical equipment enterprises. Different regions, medical institutions at different levels, and patients have distinct needs for medical devices, presenting rich market opportunities for multinational enterprises. Meanwhile, with the promotion of consumption upgrading, the demand of Chinese patients for high-quality and high-performance medical device products is also increasing, bringing more market opportunities for multinational enterprises.
Source: 《医药经济报》总4608期（53期）
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