market-entry-home-health-diabetes-care-devices-market-in-china

Market Entry - Home Health Diabetes Care Devices Market in China: Analysis of Growth, Trends and Progress (2016 - 2021)

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About the Market

The diabetes care devices market is driven by increasing prevalence of diabetes, technological advancements, rise in obese population and rising need for faster and safer diagnosis; leading to huge investments by market leaders and new companies foraying into this market. North America held the largest share in the global diabetes care products market, followed by Europe and Asia-Pacific. The Asia-Pacific region provides significant opportunities, with China and India being the most populous countries and home to 40-45% of the global diabetic population. Thereby, contributing to the demand for diabetes care devices like blood glucose monitoring devices and insulin delivery devices. As a result, many players in the market are focusing on strengthening their position in this region. Roche, Johnson & Johnson, Bayer AG, and Abbott Laboratories are few key players in the market.

About the Geography

China, a USD 10 trillion economy with a strong communist government at its helm, is reshaping the global economy, like never before.  China is the world’s second largest market and is continually growing to become an attractive destination for foreign investment.

Since the late 1970s, China has moved from being a closed economy to a more market-oriented one. In the past 30 years, the Chinese government has at times opened the door wide for foreign companies while keeping it firmly closed in sectors where the government seeks to develop domestic firms into international giants. The government of China discourages investments, which intend to profit from speculation like currency and real estate. The government has also indicated that it plans to restrict foreign investment in resource intensive and highly polluting industries. Policy changes to RMB Qualified Foreign Institutional Investors (RQFII) were introduced in March 2013, which have loosened market entry requirements for registered financial institutions.

Large parts of the economy are still closed to foreign firms and there is a strong competition from state-owned industries in the remaining sectors. The country is also well-known for its tangled bureaucratic web, which along with the complex business structure and language barrier, can make doing business in China a bit tough. However, with 1.3 billion internal consumers and a rapidly growing market, China offers an endless array of opportunities for firms from across the globe.

 

Component Name

Unit

From Site

                                               GDP             

USD billion

10866

GDP Annual Growth Rate

%

6.7

GDP Per Capita

USD

6416

Unemployment Rate

%

4.05

Wages

USD/Year

9,207.37

Inflation Rate

%

1.9

Consumer Price Index (CPI)

Index Points

102

Interest Rate

%

4.35

Business Confidence

(No Units)

50.4

Manufacturing PMI

Index Points

50.1

Ease of Doing Business

(No Units)

84

Competitiveness Rank

(No Units)

28

Corruption Rank

(No Units)

83

Consumer Confidence

(No Units)

106

Bank Lending Rate (Consumers)

%

4.35

Corporate Tax Rate

%

25

Sales Tax Rate

%

17

 

The Market Entry Series

Exploring global markets is now recognized as the shortest way to ensure high time to efficiency conversion, when trying to expand revenues past domestic markets, for firms both large and small. Our market entry series, priced suitably low contains the essentials of all the parameters (Refer: Table of Contents) you must be apprised of before you can have a well informed contemplation of a business opportunity in your choice of industry, in your choice of geography.

Diabetes Devices Intelligence Center

Covering 3 categories, 8 segments across 25 countries - offering over 8,600 data points

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