Healthcare Study: Medical Devices Market: China/India/Russia 2015
EAC Industry Update – “Medical Devices Markets in Russia, India and China”
Despite some regional differences, the medical device markets in China, India and Russia have a couple of things in common: above average growth rates, nascent market structures and necessary state support. If international players want to maintain competitive in these markets then they will have to adapt their business models. Russia and India both remain import-dependent, as of today. This economic model has not served their rural populations well and has left billions of locals without adequate healthcare coverage. China’s rural population has also been underserved, due to China’s primary focus on high levels of low-technology medical device exports. As it stands, China and India are both in stages of superior market growth, which creates opportunities for foreign OEM’s to develop localized hubs in these markets. Russia is currently undergoing an economic downturn, based on current estimations this likely to end in 2017. It is time for international OEM to get prepared for that in order to benefit from a historically strong market.