The China Honeymoon Is Over: Global Medtech Must Think Decisively
It Should Be No Surprise That The Challenge Of China Will Only Ratchet Up Further
China is transitioning to an economy driven by innovation and technology, with differential effects on foreign medtechs depending on their place in the value chain and type of innovation. China commentators have been updating the market.
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China-specific go-to-market strategies are helping global medtechs access the fast-growing medical device market in China, where localization has become the buzzword for foreign players, writes news and analysis portal Omdia.
The consequences of China’s volume-based, centralized procurement of medical supplies, initiated in 2018, are starting to become clear, according to reports from Omdia.
In this digest of Chinese medtech industry news, Omdia’s Sally Ye describes the new five-year medtech plan and other key information for the sector.