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(Medical-NewsWire.com, November 20, 2012 ) San Francisco, CA -- Drawing parallels to the information technology sector from 20 years ago, the Chinese medical equipment industry is showing dramatic growth.
Although quality remains an issue, the overall value of China’s medical equipment industry production stands at 98.54 yuan (approximately $15.73 billion USD) as of September 2011, an increase of 26.6 from the previous reporting period the year before, according to Zero2IPO Research Center.
As technology upgrades are implemented, some of the large manufacturers will benefit from technological innovations, allowing them to become dominant forces in the industry. Many of the products being manufactured currently are lesser quality and would benefit from potential technological upgrades.
As a result, comparisons are being made information technology companies who enjoyed similar gains 10 to 20 years ago, such as Huawei Technologies Co. Ltd., Lenovo Group, and ZTE Co., said Chinese equity investment firm Legend Capital’s managing director Ouyang Ziangyu.
"It (technological innovation) will prove to be a driving force that in 10 to 20 years results in a batch of great Chinese medical equipment enterprises that will be similar to today's large IT companies, Ouyang said.
Ouyang added that his company was positioned previously to seek investment opportunities in the aforementioned technology sector, but now have shifted their focus to healthcare, including deals with medical equipment manufacturers.
Medical equipment manufacturing has steadily increased during the past five years. According to data from the National Development and reform Commission, 44.9 billion yuan worth of equipment was manufactured in 2006. In the last full year of report, 2010, that number had risen to 118.2 billion yuan. In the nine months reported for 2011, that figure was already at 98.5 billion yuan, with the potential reach as much as 130 billion yuan.
For the most part, foreign-based companies have the majority of the market share in the Chinese advanced medical equipment market. As a result, those companies charge higher prices, making it difficult for many Chinese citizens to afford their services. As a result, the best healthcare services are only found in large hospitals in the country’s economically developed areas.
"We are glad to see that more people who have returned with strong experiences in healthcare are starting their own businesses in China," Ouyang said. "They are trying to achieve technological innovations and offer high-quality products with affordable prices to supply the large domestic market that exists for medical equipment."
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Source: EmailWire.Com 
Source: EmailWire.com
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