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Foreign pharma firms upbeat on China

By HE WEI in Shanghai | China Daily | Updated: 2021-04-14 09:46

A training director with German medical tech company Siemens Healthineers introduces a surgery robot to medical staff at Boao Super Hospital in Hainan province on March 13. [Photo/China Daily]

Efforts to build comprehensive infrastructure for healthcare create new opportunities

For multinational corporations, China has become the look-to market turbocharging global growth amid the COVID-19 pandemic.

In the medical sector, such a phenomenon has shown particular momentum.

The country's organic market growth is whetting the appetites of foreign healthcare players vying for a slice of the pie.

A case in point is Siemens Healthineers, a German medical technology giant, which saw first quarter growth in China jump 25 percent year-on-year.

"We had a very good start into the year with strong growth coming from China," said Elisabeth Staudinger, Asia-Pacific president of Siemens Healthineers.

The company recently raised growth guidance from 5-8 percent to 8-12 percent for 2021, as China is expected to be one of the "main pulls" amid medical imaging equipment demand such as for X-ray machines and MRI scanners.

"This is also very clearly connected to establishing fever clinics and the (country's) continued push to build a more comprehensive infrastructure for healthcare not only in big cities but in remote, provincial areas," Staudinger said.

For medical device maker Boston Scientific, China-currently trailing Japan-is ready to return to high double-digit growth this year and become the largest overseas market in five years after its home market of the United States.

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