Medical technology revenue worldwide by region 2013-2020

This statistic depicts the global medical technology revenue in 2013, and a prediction for 2020, sorted by region. In 2020, China is expected to generate 55 billion U.S. dollars in the global medical technology market. China's Food and Drug Administration is encouraging new developments in the health care industry and to be considered innovative, a product must be a major improvement from the previous product. As of 2013, China's medtech industry was the fourth largest in the world and is expected to be the second largest by 2020.