Strong R&D, competitive manufacturing capabilities with professional sales and services are the key hallmarks of success for Chinese manufacturers in the medical devices segment.
The China market for medical devices holds immense opportunity for companies in Europe and US for joint ventures and outsourcing. Several such alliances have taken off among the medical equipment manufacturers in China. The variety of medical devices from the country has increased the exports to the developing and under developed nations for Chinese small-medium sized manufacturers.
Going by the expertise portrayed by companies like XinAoMDT, Aloka and Ningbo David Medical Device Company who are in a competitive advantage compared to global medical majors only proves that the knowledge and expertise among Chinese manufacturers is by far the best today in the world stated an official.
When it comes to marketing the range of medical devices in India, there are many manufacturers from China who have not yet explored the markets in India barring a few who have a presence through distributors, stated an official.
Companies in China are confident to make an entry and succeed in India going by the increasing number of medium and large hospitals in the country.
China medical devices sector has a wide range of equipment and instruments from low end to advanced state-of-the-art surgical technology with complete solutions in micro organisms barrier packing which are some of the most recent developments in the healthcare space.
For companies in China, the country itself offers a huge market as there are over 16,000 hospitals in the country. With the government going all out to support development and modernization, it is a boom time for medical equipment devices. Going hand-in-hand with technology is the pricing of products which is also a major attraction, added an official.
With the latest technology there are also several fake products which do not deter the local manufacturers because they are sure that quality has found its place in the service industry of the country.
A primary motivation for the industry in China to succeed is the ¡®open up policy announced in the 80s. Since 2000, the country has embraced modernization to an extent which has led foreign investors to pump in funds to the tune of over US$10 billion. In Zhengzhou alone in 2005 end saw more than 40 countries investing US$5.2 billion. The total volume of foreign trade in Zhengzhou alone was $1.94 billion which was up by 13 percent over 2004. The exports from this region accounted for $1.3 billion which was an increase of 29 percent. This included a substantial chuck of medical devices.
According to sources from the China Medical Industry, the main reason for the accomplishments of the Chinese medical device sector is that it excels because of its capability in top-class craftsmanship and the sophisticated tooling industry. Its manufacturers are adept at not only quantity but quality products.