MNCs Corner High-End Medical Device Market In China
This article was originally published in PharmAsia News
Executive Summary
To boost domestic enterprises' R&D and speed to market, the China Association of Policy Science has established in Guangzhou a national research base for commercializing medical devices. It aims to effectively reduce the retail price of medical devices, cutting health care costs in the process. China's current medical device market of about 70 billion yuan is expected to expand to 120 billion yuan by 2010, making it the third largest worldwide market after the U.S. and Japan. However, 80 percent of local medical device manufacturers are small-to-mid-sized enterprises that clone or produce modified medical devices with low technology. MNCs still very much monopolize the high-end market for medical equipment such as CT and MRI diagnostic machines. (Click here for more)