Financial Daily from THE HINDU group of publications
Wednesday, Feb 22, 2006
Financial Daily from THE HINDU group of publications Wednesday, Feb 22, 2006 |
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Industry & Economy
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Medical & Surgical Equipments Chinese cos eye Indian medical products market Our Bureau
Hyderabad , Feb. 21 AFTER flooding India with toys, plastic products, and many other sundry goods, Chinese companies are now looking at a high-end, specialised segment - medical and health products. One of the major reasons for them to enter the huge Indian healthcare market is "similarities" that they see in India. According to Mr Raymond Y Cui, Vice-President (International Business) of the Beijing-based Starway Medical Technology, factors like income levels and health issues are similar. The company specialises in the research, manufacturing, and marketing of medical devices for transcatheter (interventional) treatment of some congenital heart defects. About 1.5 lakh infants in China and 1.9 lakh in India are born with these defects every year. "All these years, we have been selling our products in China. Last year, we have decided to go abroad and India is our first choice. Pakistan will be the next," he told Business Line. Mr Raymond was here to attend the three-day Medi-Tech-2006 to showcase his company's products. But there was more to his mission. "We will talk to hospitals and dealers in major cities like Delhi, Mumbai, and Hyderabad. To begin with, we will appoint 2-3 dealers." A team from Apollo Hospitals, Hyderabad would hold talks. "They will have a feel of the products," he said. The fact that the Chinese companies took a sizeable space at the medical equipment expo showed the sudden rush of interest in India. Besides trying to attract the local market, the Chinese companies are also on the look out for distributors, franchisees, and original equipment manufacturers. The equipment ranged from automatic shoe-cover dispensers to specialised cardiac products. China's exports of medical devices and equipment grew by 33.7 per cent in the first half of 2005 to touch $1.632 billion. Nearly 70 per cent of these exports were to the US, Japan, and Germany.
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