Many Western medical device manufacturers are closing facilities located in the West (especially in the EU) and opening new facilities in Asia to reduce costs and get closer to growing markets. (Click the image to download in full size.)
Explosive demand for medical devices in the Asian markets are attracting Western and local medical device companies. Western medical device companies are increasing sales to Asia with basic models and lower costs of their top-of-the-line products. However, many more local Asian medical device manufacturers are now making more sophisticated products with components of better quality as demand increases both in the region and globally.
An increasing number of local Asian medical device companies are manufacturing devices that used to be largely made in the West. For example, five years ago, foreign imported products accounted for 75% of the drug-eluting stent market, dominated by companies such as Medtronic, Abbott, Boston Scientific, and Johnson & Johnson. Local Chinese manufacturers accounted for only 25% of the market. Five years later, 75% of the drug-eluting stent market is made up of local Chinese drug-eluting stent manufacturing companies, and now only 25% of the market are foreign made products.
For more information about manufacturing medical devices in the Asian countries, please see Sourcing and Manufacturing Medical Products in Asia.
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