China has leapfrogged ahead of other countries when it comes to digital health adoption, and there are important lessons to learn from the country’s experience, according to a new report from Royal Philips (NYSE:PHG). Most Chinese health professionals — 94% — report using digital health technologies or mobile health apps, according to the Future Health Index […]
What does the U.S.-China trade war mean for medical device companies?
The ongoing trade war between the United States and China affects everything from tooling and mold-building to commodity medical devices when medtech is concerned, according to Mark Bonifacio of Bonifacio Consulting Services. Bonifacio, though, thinks China is too big for medical device companies to ignore: Even if the labor costs savings aren’t as attractive, there is simply […]
Here are the top 5 medtech stories of mid-2018
A growing U.S. trade war with China and other countries casts a pall on medtech — and U.S. business in general — in mid-2018. The landscape of the medical device industry continues to evolve, though. There’s a major corporate spinout in the works, as well as a mega-merger that apparently was not to be. Read […]
Trump tariffs leave medical device companies in the dark
U.S. medical device industry representatives, for now, appear to be taking a wait and see approach as President Donald Trump’s administration wrangles over trade policy and threatens tariffs against China. The status of China tariffs on medical devices is unknown at this time as the Trump administration continues to make changes to its trade policies […]
Trump tariffs would take a $5B bite out of the medical device industry
The U.S. medical device industry could come out as a major loser if the Trump administration ends up fighting a trade war with China, according to experts following the situation. Out of the $50 billion in tariffs against imported Chinese goods that the U.S. Trade Representative is proposing, $5 billion involves medical device and technology […]
China wants to dominate medtech: Here’s how
Under its “Made in China 2025” plan, the Chinese government seeks explosive growth in biomedical and high-end medical device manufacturing. Grace Fu Palma, China Med Device In 2015, the China State Council issued a 10-year manufacturing plan called “Made in China 2025.” The goal is to elevate the “giant but weak” Chinese manufacturing industry into […]
Report: Chinese medical device market growing faster than pharma
The medical device industry in China is experiencing rapid growth when compared to the global medtech market, as well as its pharmaceuticals industry, according to a report from China Med Device. Between 2005 and 2015, the medical device market in China hit an annual growth rate of greater than 20%, according to the report, with […]
Why U.S. first may be the new medical device development strategy
Increased regulatory hurdles in Europe and China could mean more medical device development focusing on the U.S. market first. That seemed to be a major takeaway from panels on regulation and reimbursement at Healthegy’s Medtech Conference, held last week in Minneapolis. “We’re actually going to be doing more early clinical work with the FDA,” said Stacey Pugh, vice […]
After shelving $69m IPO, Mevion Medical lands $200m, launches China JV
Mevion Medical Systems, which last week shelved plans for a $69 million initial public offering, this week said it raised $200 million from a syndicate of Chinese and U.S. investors and launched a joint venture in the People’s Republic. President & CEO Joe Jachinowski told MassDevice.com today that Mevion, which makes the S250 proton therapy system, […]
Siemens, China deny bribery report
Siemens investigates report of fictitious Chinese healthcare contracts
(Reuters) — Germany’s Siemens said it’s investigating a media report that it boosted sales figures of its healthcare equipment in China by creating fake contracts.
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