Medical Device Competition Heats Up In China
This article was originally published in PharmAsia News
In order to grab a share of China's huge potential medical devices business, multinational medical device manufacturers are establishing foothold in the medium- and low-end market through collaborations or mergers. In the patient monitoring sector, market share of MNCs has declined from a high of 70 percent to the current 30 percent due to lower-priced local brands such as Shenzhen Mindray and Goldway. To consolidate its leading position in China, Philips recently made its first acquisition by buying Goldway Industrial. Industry analysts observe that the acquisition will heat up the competition if Philips puts its brand on Goldway-made products without raising prices. To address the possible adverse impact, Mindray has begun shifting its focus to the high-end market to build up its international competitive advantage. (Click here for more - Chinese Language)
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