Our Senior Research Analyst, Simon Trinh is currently attending the 76th Annual China International Medical Equipment Fair (CMEF) being held at the Shenzhen Convention and Exhibition Center from October 29-November 1. After over 37 years of continuous innovation and self-improvement, CMEF has become the largest fair of medical devices, related products and services in the Asia-Pacific region. The fair widely covers 15,000 products such as medical imaging, IVD equipment and reagent, medical electronics, medical optics, first aid, rehabilitation devices, nursing, telemedicine, wearable devices and outsourcing services, and it serves the entire value chain of medical devices from the source to the end in a direct and all-round way. At each fair, almost 4,000 medical device manufacturers from over 24 countries, and about 120,000 visitors and buyers who are government procurement agencies, hospital buyers and dealers from over 100 countries and regions gather in CMEF for trading and exchanges.
Day 1 impressions from the show floor
Most of the original equipment manufacturers (OEMs) sell their own products under their brand names, for example: Olympus, Abbott, Terumo, etc. The main focus of these companies is education, trying to educate the Chinese public on their product benefits and why the Chinese hospitals should choose them based on product quality and not based on previous manufacturer relationships.
All companies who sell in China, either domestic or international companies, are competing for the business of large hospitals and distributing companies. Just like the rest of the world. The problem is that the Chinese government decides which companies receive these medical equipment orders. Therefore, every 3-5 years the government steps in to change the supply/demand scale based on many different factors, but ultimately they base the decision on sheer and simple company preference.
Small sized Chinese companies are really focused on capturing market share in the Chinese market. Whereas medium sized Chinese companies are capturing new clients abroad, mainly in Indonesia, Russia, Turkey and other places in Europe. These medium sized Chinese companies purchase market research, and small scale companies are projected to invest in market research in order to break into the foreign market. However, the high cost of quality market research is limiting investment.
Stay tuned for more impressions from the show floor!
About iData Research
iData Research (www.idataresearch.com) is an international market research and consulting group focused on providing market intelligence for medical device and pharmaceutical companies. iData covers research in: Dental Operatory Equipment, X-Ray Imaging, Vascular Access, Peripheral Vascular, Endoscopy, Interventional Cardiology, Cardiac Surgery, Cardiac Rhythm Management, Electrophysiology, Diagnostic Imaging, Operating Room Equipment, Surgical Microscopes, Robotics and Surgical Navigation, Oncology, Ultrasound, Laparoscopy, Urology, Gynecology, Spinal Implants and VCF, Spinal MIS, Orthopedic Soft Tissue Repair and Regeneration, Orthopedic Trauma, Large and Small Joints, Anesthesiology, Wound Management, Orthopedics, Ophthalmics and more.
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