HUAWEI is now absolutely a globally recognized brand name, and definitely a rising star in its cluster. Perhaps within 3-5 years, there will be a new ‘LENOVO’ or a new ‘HUAWEI’ in medical device industry as well.
Currently there are around 150.000 medical device manufacturers in China, but 90% of them can only achieve a yearly turnover between RMB 10-20 million. Most of them are producing medical disposables or small devices like thermometer, blood glucose meter, blood pressure monitor, or ECG monitor, many are on OEM basis.
In Chinese hospitals, for equipment like MRI, CT or endoscopy, some 90% are imported products. But the situation starts to change now, slowly. Since2013, we see Chinese manufacturers are releasing new products including ultra-sound scanner, MRI, CT and even PET-CT, as well as bio-chemical analyzer and etc, all under manufacturers’ own R&D with self-owned intellectual property rights.
So far these Made in China products can’t compete effectively in international market with those global leaders, but a long march to the global med tech market with Chinese domestic market as a starting point is logical and realistic. As long as the Chinese medical device manufacturers accumulate knowledge and experience in product and market development, strengthen the capability in research and innovation and with practical strategy and patience, they will obtain a decent market share not only in Chinese domestic market, but also in international medica device market.