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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

 
• By Sally Ye

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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China is the world’s second-largest medical device market, growing at a projected compound annual growth rate of 10% to 15% until 2025. That is more than twice the expected growth of the global medical device market.

The China market opportunity cannot be ignored by global medtech players, regardless of the increasing number of market access barriers being erected by the Chinese authorities. While some companies are finding it challenging to remain competitive, many have retuned their strategies to meet localization criteria

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