MASSDEVICE ON CALL —China’s medical device market is set to grow 17% in 2012, according to a Citigroup hospital survey.
Major medical equipment in the Chinese market include medical monitors and life support, diagnostic imaging, in vitro diagnostics and therapeutic systems.
GE Healthcare (NYSE:GE) leads the Chinese medical equipment market, but in orthopedics and drug-eluting stents, Medtronic (NYSE:MDT), Johnson & Johnson (NYSE:JNJ) and Stryker (NYSE:SYK) take the lead, according to the report.
Citigroup’s survey, which was based on responds from 383 Chinese hospitals across 29 provinces and cities, also named med-tech titans Philips (NYSE:PHG) and Siemens (NYSE:SI) as leaders in China’s med-tech market.
Domestic manufacturers such as Mindray Medical (NYSE:MR), Wandong and Aeon have tapped into the market with the sale of market of patient monitors, anesthesia machines and radiography machines.
The 2012 growth will be largely due to bigger budgets and planned infrastructure upgrades from Chinese hospitals, according to analysts.
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