Insights into Chinese Medical Device Companies Going Global

Deloitte China's Life Sciences team released the report, "Insights into Chinese Medical Device Companies Going Global – Popular Target Markets Overview and Key Success Factors". The report covers seven popular medical device markets globally and presents in-depth research. Moreover, the report highlights the main models and challenges for Chinese medical device companies entering each market and outlines key success factors and critical implementation suggestions for Chinese medical device companies to expand their overseas businesses.

Chinese medical device companies are facing many challenges in the domestic market, including severe homogeneous competition in low-value consumables and weak R&D capabilities in imaging diagnostic instruments. Meanwhile, the growth potential of overseas medical device markets remains promising due to factors such as large incremental segmented markets, and the price-advantage of Chinese medical device products in comparison to those overseas products due to a higher overall pricing environment in global markets. This makes globalization imperative for Chinese medical device companies.

The report selected seven popular target markets in the global medical device sector: the United States, Germany, France, the United Kingdom, Brazil, Malaysia, and Singapore, and presents in-depth research on their macroeconomics, healthcare systems, medical device markets, regulatory systems and other factors. Moreover, the report highlights the main models and challenges for Chinese medical device companies entering each market and outlines key success factors and critical implementation suggestions for Chinese medical device companies to expand their overseas businesses.

Figure: Global medical device development environment by region

As many Chinese medical device companies are still in their infancy when exploring oversea markets, there are both broad opportunities and potential challenges along the globalization journey. It is hoped that this report can bring new inspiration to the industry professionals, and enable Chinese medical device companies to select the appropriate target markets, grow steadily in those markets, and illustrate the competitiveness of made-in-China products.