Medical Device Industry Development Report: Significant Market Potential in Countries Along the Belt and Road Initiative
Release date:
2025-03-01
Recently, the "Blue Book on Medical Devices: China's Medical Device Industry Development Report (2018)," released in Beijing by the China Association for Drug and Medical Device Regulation Research and the Social Sciences Literature Press, stated that since the launch of the Belt and Road Initiative in 2013, demand for China's medical device products has risen among countries along the Belt and Road routes.
Recently, the "Blue Book on Medical Devices: China's Medical Device Industry Development Report (2018)," released in Beijing by the China Association for Pharmaceutical and Medical Device Regulation Research and the Social Sciences Academic Press, stated that since the launch of the Belt and Road Initiative in 2013, demand for China's medical device products has been steadily increasing among countries along the Belt and Road routes. In 2017, trade volume between these countries and China reached US$6.361 billion, representing a 7.7% increase compared to the same period the previous year—and accounting for 15.12% of China's total global medical device exports during that time.
The report states that, more than five years after the launch of the Belt and Road Initiative, it has resonated deeply with many countries. Its principles of peaceful development and shared growth—based on consultation, joint construction, shared benefits, and mutual win-win outcomes—have gained widespread recognition. These principles are now driving the liberalization and facilitation of trade and investment across Asia and beyond, fostering robust two-way investment flows with various nations, creating new opportunities for collaborative partnerships, and providing a vital platform for regional and sub-regional international cooperation. Chinese medical device companies should seize this golden opportunity by adopting a new "group-based overseas expansion" model—leveraging complementary strengths to diversify and mitigate overseas investment risks. Together, they can jointly tap into global markets, bringing Chinese-made products, services, and even renowned brands to an increasing number of countries along the Belt and Road initiative.
The report reveals that in 2017, China had 16,768 enterprises engaged in medical device business operations with countries along the Belt and Road Initiative, representing a year-on-year increase of 12.22%. This figure marks an addition of 4,213 companies compared to 2013, highlighting growing interest from domestic businesses in these regions. Currently, the majority of companies participating in this initiative are private enterprises, which serve as both the main force and a vital driving engine behind the Belt and Road development. Their export value reached US$3.036 billion, accounting for 67.83% of the total exports.
The report notes that the Belt and Road Initiative has created an international healthcare industry market with tremendous potential, bringing together both domestic and global medical resources while also attracting a wide range of domestic and international players in the healthcare sector. For Chinese medical device companies aiming to make inroads into markets along the Belt and Road countries, their top priority should be achieving harmonious integration with local societies, cultures, and legal systems.
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