AN EXAMINATION OF THE INFLUENCE OF THE MEDICAL DEVICE MARKET AND ITS SIGNIFICANT EXPANSION ON THE CHINESE ECONOMY: A STUDY FROM THE HEALTHCARE INDUSTRY VIEWPOINT.

Abstract

This research discusses the significance of the healthcare chain of custody in promoting the economy and the substantial influence of the medical device market on China's economic development through the healthcare industry. The public's health is at risk from rising healthcare expenses and pollution in the environment caused by conventional delivery models that prioritise single-use, throwaway medical devices. Considerations about customer behaviour, laws and regulations, and dealer policies are some of the obstacles that environmentally friendly operations must overcome. Accelerated development, spurred by technical innovation, modifications to regulations, and rising healthcare needs, has propelled China's medical device sector to the position of second-largest worldwide market following economic openness. This expansion has brought in money from outside, created jobs, and spurred technical progress, particularly in medical technologies driven by AI, which has improved service delivery and reduced costs. A quantitative study used SPSS and factor analysis to examine data and confirms a substantial and statistically significant association between the medical device market's effect and China's economic expansion. Trade policy and medical device advances affect GDP, technological development, and health. China became an internationally recognised nation when the epidemic showed strong supply links and international cooperation. This industry gains from uniformity and sustainability despite regulatory limits and market competition. The medical device industry is crucial to China's economic change, healthcare advancements, and sustainable development. Authorities and stakeholders should promote innovation, simplified legislation and increased international collaboration for further improvement of the Chinese economy.