For device companies, China is proving to be a market replete with both immediate opportunity and significant risk. Here are several examples of how large device players are attempting to navigate this challenging new environment.
Tales Of Three Medical Device Markets In China
Article preview from IN VIVO - November, 2012
- No medical device market is attracting more interest today than China, particularly among large companies. The latest industry truism: if you’re looking for a big company business development executive, go to Beijing.
- Large companies are finding, however, that China is not a monolithic market. There are variations both in terms of geography and product segment.
- We present three specific case studies of different device markets – coronary stents, orthopedic implants, and ultrasound systems – and explain the strategies that large companies are using to compete in each of those product areas.
- By our analysis of these companies’ efforts in these specific markets, we identify general strategies that will serve other device companies looking to introduce products into these and other clinical areas in China.
China’s medical device market has been a high performer over the past 10 to 15 years, driven largely by the rapid increases in both patients’ disposable income and government insurance coverage. That combination has led to aggressive expansion in China by device multinational companies.
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