Medtech Multinationals Up Pace Of Localization Strategies In China
Major global firms are pivoting towards an ‘In China For China’ strategy to meet local needs and better exploit the market’s potential
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.
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Germany-headquartered Siemens Healthineers has uncoupled China from the rest of its Asia business to maximize opportunities in the world’s largest medtech market-in-waiting.
The CEO of QuantumDX, Jonathan O’Halloran, spoke to Medtech Insight about the benefits of selling diagnostics in China and argued for a pragmatic approach to IP protection when launching in a country where counterfeiting is common.
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.