How many U.S. and European IVD companies are currently doing business in China?
Have they been successful? In 2004, McEvoy and Farmer profiled 27 foreign companies with offices in China. This list includes companies from both the United States and Europe, as well as four from Japan and one from South Korea. Although we don’t know how profitable they’ve been, all of these companies have experienced good growth rates, and more and more international firms are setting up offices in China every year. So we think these two things are pretty good indicators of success. We also track the distribution of roughly 120 IVD manufacturers that don’t have offices in China but work through local distributors. This number is also increasing. What are the keys to success for IVD companies doing business in China? As I mentioned earlier, offering a profitable product for the laboratories is the most important key to success. Because local companies make basic tests of acceptable quality for very low prices, the best strategy for a foreign company is to introduce a test or methodolo
