2024 China Medtech Industry Outlook

What are the major trends shaping the China medtech industry in 2024? Our experts highlight the three key trends and their implications for the world’s second largest market.  

China holds significant growth opportunities for the medtech industry. Through extensive conversations with industry leaders in the field, we’ve identified three crucial trends that will drive market growth in 2024.  

  On the policy front, the industry will continue to see impacts from volume-based procurements (VoBP) and new payment reforms.  

• The fourth batch of national VoBP on intraocular lens and sports medicines featured around 70 percent price cut on average. Meanwhile, most companies in the bidding process made it to the final list, including Alcon, JNJ, and Smith & Nephew. That is partly a result of the more relaxed rules which allow players a second chance to bid and get back into the game.
• At the…