China: Value-Based Procurement Reshapes Strategies Of Multinational Medtech Firms

 
• By Mainbayar Badarch

China’s growing market for medtech, estimated at $70bn in 2021, could more than double this decade if the government’s Healthy China 2030 plan stays on track.  

Map of China in magnifying glass (shutterstock)
• Source: Shutterstock

Regarding the key players, with a valuation more than triple that of the following competitor, Mindray Medical is the clear market leader in the medical device market with market value of CNY326bn ($44.8bn) in 2020. Next performers are Wantai Biological (CNY86bn), Lepu Medical (CNY79bn), BGI Group (CNY75bn), New Industries (CNY75bn), Autobio Diagnostics (CNY69bn) and Jafron Biomedical (CNY59bn).

In some areas, domestic companies are markedly improving their performance across operations. China’s 134 listed medtech companies generated $44bn in 2021 revenues, an impressive CAGR of 36% since 2019 –...

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