AdvaMed Member Contributions in China
Many AdvaMed members have made substantial investments in China, including establishment of research and manufacturing facilities and other efforts that contribute to China’s growth. Survey results from just two dozen AdvaMed members reflect:
- Decades of experience in China, some more than a century.
- Approximately 60,000 employees, with thousands in R&D.
- Nearly 300 offices across the country.
- Over 8 billion RMB in fixed assets, 30% through joint ventures and over 40% through controlling investments in local firms, nearly all belonging to a Chinese health care association.
- R&D collaborations with Chinese academic institutions.
- Medical education delivered to about 100,000 health care professionals each year, with nearly 100 customer training centers around the country.
- Tens of millions RMB in annual donations to Chinese charities.
AdvaMed’s Focus on Innovation in China
AdvaMed advocates in China for the highest ethical standards, timely patient access to safe and effective products, and economic policies that reward value creation. In 2014, AdvaMed expanded its commitment to China by opening an office in Shanghai, enhancing our ability to work with all stakeholders – including manufacturers, patient groups, health care providers and Chinese authorities – to advance medical technology innovation and value-based health care centered on quality.
Our policy agenda has four main focus areas:
- Technology and Regulatory
- Payment and Health Care Delivery
- Legal and Compliance
- Global Strategy and Analysis
What is a Medical Device?
A medical device is an instrument, apparatus, implant, machine, tool, in vitro reagent, or similar article that is used to diagnose, prevent, mitigate, treat, or cure diseases or other conditions, and, unlike a pharmaceutical or biologic, achieves its purpose by physical, structural, or mechanical action but not through chemical or metabolic action within or on the body.
The Value of Medical Technology in China
Advanced medical devices and diagnostics hold great potential to improve patient outcomes, control burgeoning health care costs and boost the efficiency of China’s health care system.
- Living longer: Medical technology has helped add years to life expectancy, and fatalities from heart disease and stroke have been cut by more than half over the last three decades.
- Getting back to work: Minimally invasive surgeries often mean lower costs and fewer lost days at work for patients.
- Shortening hospital stays: Medical technology has helped cut the number of days people spend in hospitals by more than half.
- Diagnosing solutions: Diagnostic tests influence the majority of health care decisions.
- Promoting full recovery: Advances in wound care technology help decrease the incidence of amputation and reduce the length of hospital stays.
- Creating jobs: Medical technology companies support hundreds of thousands of jobs in China, driving economic growth in communities throughout the country.
- Generating healthy gains: Increased incentives for investments in medical technology will generate billions of RMB over the next decade in Chinese economic gains.