Is China Still A Good Opportunity For Device Manufacturers?
www.medtechintelligence.com
May 5, 2022, 6:54 p.m.
The best way to succeed in China is to focus on selling unique products there; unique products that are needed, where the reimbursements are still relatively good, and VBP will not reduce prices, yet can still yield large sales. Western brands are still perceived as higher quality than locally made products, and are popular with Chinese patients as long as the pricing is reasonable. Other strategies to be successful in China include licensing or selling your technology since there is more Chinese capital available these days. Another improved factor, although still not great, includes better intellectual property protection in China. Some Western companies are also making more of their products in China, which can help the company to be closer to their customers, in some cases make registration easier, and may reduce manufacturing costs.