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Philips To Push Home Medical Devices In China

This article was originally published in PharmAsia News

Executive Summary

Philips Home Healthcare Solutions' CEO John Miclot reveals that the company will be increasing investment in China and acquiring local leading enterprises in the health care sector. The country's medical electronic market expanded 17.1 percent to hit 24.68 billion yuan ($3.60 billion) in 2007, a growth notably higher than the global market. Home medical devices took up around 75 percent, far more than the world's average of 45 percent. Philips plans to push into the digital home-care market for its health care strategy, with China as its most important consumer market as well as production and R&D base. Research firm CCID Consulting forecasts China's medical device production to reach 100 billion yuan ($14.59 billion) in 2010, or 5 percent of the world's market. (Click here for more - Chinese Language)
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