GLOBAL CENTERS OF MEDICAL DEVICE TECHNOLOGY: UNITED STATES, EUROPE AND CHINA

Authors

  • Petra Hospodková Department of Economic Theories Faculty of Business and Economics Czech University of Agriculture in Prague
  • Miroslav Barták Department of Addictology First Faculty of Medicine of Charles University and General University Hospital in Prague
  • Klára Vacíková Department of Biomedical Technology Faculty of Biomedical Engineering Czech Technical University in Prague
  • Erika Urbánková Department of Economic Theories Faculty of Business and Economics Czech agrary university in Prague

Keywords:

medical device, international comparison, economic growth, global market

Abstract

The global market for medical technologies is concentrated in the most advanced countries of the world, namely the U.S.A., Europe and Japan. China is the most important of fast-growing markets. According to some estimates China's global share in 2030 will be as much as 25 %. The aim of the article is to provide an overview of the development of selected economic indicators of medical devices in the regions of the U.S.A., Europe and China. We address the last decade and comment on the estimated future development of these markets. The article is based on selective literature research. Indicators of the market value, global market share, market trends, and export and import values in the three world regions are the key elements of the analysis. We found that U.S. holds about 40 %, the market value (170 billion USD) and Europe holds currently about 30 % of the global market (110 billion USD). The Medtech market in China is about 10 % of global one (53,6 billion USD). The U.S. market growth is about 10 %, the European 5 % and China market shows far largest growth rate about 20-25 % per year. According China will become one of the major player in the Medtech market. The Chinese market, which has focused on low-cost production in the past, is currently coming to the forefront thanks to its development of high-end medical device technology.

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Published

2018-12-31

Issue

Vol. 48 No. 4 (2018)

Section

Review (Only by a direct request from the Editor-in-chief!)

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Copyright (c) 2019 Petra Hospodková

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