Competition For High-End Medical Device Market In China Heats Up
This article was originally published in PharmAsia News
Executive Summary
MNCs have cornered the high-end medical device market in China. Siemens, Philips and Fujifilm Medical Systems monopolize the diagnostic devices sector, while Cook Medical, Medtronic and Johnson & Johnson Medical occupy the intervention and surgery devices market. With the imminent implementation of the China health care reform, a fresh round of battle among suppliers looms. Most foreign medical device companies usually sell products via agents, at the expense of market control and hiked-up pricing. To address this, Cook Medical discloses plans to directly handle hospital sales, and will first focus on large hospitals in major cities. This will cut high-end medical device prices by 30 percent, which promises a big impact on the sector. (Click here for more - Chinese Language)
You may also be interested in...
Japan Grants Global-First Approval To Zolbetuximab, 15 Other New Drugs
Astellas's first-in class CLDN18.2-targeting antibody receives its first approval worldwide, while crovalimab and a number of drugs for rare diseases also receive nods from regulators and are now awaiting reimbursement price-listing.
Hanmi-OCI Merger Hits Wall As Brothers Win Shareholder Vote, Board Seats
The planned merger of Korea's Hanmi Pharm Group with OCI Group hits a major speed bump as the two sons of Hanmi's founder and other candidates recommended by them secture board seats. But it remains to be seen how the Lim brothers will fulfil their ambitious promises.
Beauty Firms Using AI-Based Tools Could Be Subject To Health Privacy Laws In US States
Using AI-based programs to collect and store consumer information risks running afoul of new health privacy laws cropping up in US states. Lack of federal regulation or guidance on the issue is one of the biggest challenges for beauty firms deploying AI, according to Stacy Marcus, partner at Reed Smith LLP.