The medical PVC industry attracts much attention because of its high added value, high growth rate and broad market potential. By using new plastic materials, medical devices can be made safer and more environmentally friendly. In the past 15 years, the average annual growth rate of the international medical plastic product market has reached 1518%, ranking first among the annual growth rates of various medical device products.
The medical device industry in the Asia Pacific region is export-oriented. With the increase of labor and production costs, many large manufacturers have to relocate their production bases. After China, new Southeast Asian economies such as Thailand, Indonesia and the Philippines have become the production bases of many European and American transnational corporations. More medical device companies want to move their business to these countries, and the low production cost makes the region more attractive. In addition, the local government is also working to reduce costs and eliminate trade barriers, and promote the trade of medical equipment.
