Growing Participation of Asian Medical Equipment Companies in Latin America

2008-09-17 13:56:07 -

www.frost.com - Asian brands from Japan, China, and South Korea are rapidly working their way through the hospital equipment market in Latin America, although at varying speeds. Their diverse penetration strategies and product development levels among brands from these countries have given them dissimilar main targets and placed them at different rungs on the market expansion ladder.

New analysis from Frost & Sullivan (www.medicalimaging.frost.com), Strategic Assessment - Asian Industry Participants Penetration within the Latin American Medical Equipment Segment, finds that Japan leads the group due to the wide acceptance of its technological superiority and brand reputation. China is a close second, mainly due to the efforts of Mindray Medical International, its leading brand. South Korean technology comes in third, since end users often perceive its companies as having a narrow portfolio.

If you are interested in a virtual brochure, which provides manufacturers, end users, and other industry participants with an overview of the Asian industry participants penetration within the Latin American medical equipment segment, then send an e-mail to Jose Maria Jantus, Corporate Communications, at jose.jantus@frost.com, with your full name, company name, title, telephone number, company e-mail address, company website, city, state and country. Upon receipt of the above information, an overview will be sent to you by e-mail.

"The Asian brand that excelled in market penetration is Mindray, as it offers a true balance between price and quality," says Belen Gallo, Research Analyst at Frost & Sullivan. "It has obtained substantial market share in the patient monitoring segment - even in Chile; its total market share in Latin America in the patient monitoring segment was 5 percent in 2007."

During last year, Mindray launched seven products including the Beneview T5 patient monitoring device, PM-60 pulse oximeter, and the PM-7000 multi-parameter patient monitoring system. These new technologies served the hitherto unmet needs of patients and thereby, acquired a larger client base for the company.

"At the beginning of 2008, the new T8 monitor was released," notes Gallo. "This novel device is intended to compete with Philips' MP50, and is a clear indication of the way Asian participants are escalating market segments."

Asian participants' presence is particularly strong in two modalities: patient monitoring and ultrasound. Asian products are usually associated to low-cost solutions; however, as brand perception improves through sustained marketing efforts, the global and local companies in Latin America are beginning to understand the relevance of Asian brands in the low-range and mid-range segments.

"Global participants should be aware of the ambition of Asian players," remarks Gallo. "To ensure their continuous market leadership and expansion of client base, international companies should focus on innovation and maintain a fair rate of product launch."

All participants should also retain focus on existing clients. Considering the medical equipment segment is also driven by informal communication among end users, reputation and technical support will have a huge bearing on sales.

Strategic Assessment - Asian Industry Participants Penetration within the Latin American Medical Equipment Segment is part of the Medical Imaging Growth Partnership Service program, which also includes research in the following markets: Latin American Diagnostics Imaging Markets, Healthcare End Users Analysis in Brazil, Reimbursement Dynamics in Brazil. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants. Interviews with the press are available.

Frost & Sullivan, the Growth Partnership Company, partners with clients to accelerate their growth. The company's TEAM Research, Growth Consulting, and Growth Team Membership(TM) empower clients to create a growth-focused culture that generates, evaluates, and implements effective growth strategies. Frost & Sullivan employs over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 30 offices on six continents. For more information about Frost & Sullivan's Growth Partnership Services, visit www.frost.com.

Strategic Assessment - Asian Industry Participants Penetration within the Latin American Medical Equipment Segment

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Frost & Sullivan
Jose Maria Jantus, +54-11-4777-9951
Corporate Communications - Latin America
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E: jose.jantus@frost.com
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David Escalante, 210-477-8427
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Jasminder Kaur, P: 65-6890-0937
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Remi Chatterjee, +91-44-4001 3419
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Amelia Wong, +86 21 5407 5783 Ext 8669
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