MASSDEVICE ON CALL — Chinese regulators are pushing local healthcare systems to look within when buying new medical products, a campaign that could spell bad news for global medtech giants that have placed big bets on the country’s emerging healthcare market.
Speaking at a medical device conference in Beijing, China National Health & Family Planning Commission head Li Bin told the audience that the agency aims to "strong advocate" major hospital systems in the country to use domestic products over ones made by overseas companies.
The efforts aim in part to boost the China’s medtech market and to "effectively control unreasonable increases in the cost of medical care and reduce the burden on patients," Reuters reported.
China has for year played a feature role in many medical device companies’ emerging market strategies, and agency lobbying group AdvaMed just opened doors in the country.
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