Japanese manufacturers of medical devices are counting on a China sales surge to lead growth as the economic rebound fades and the domestic market continues to shrink as the population ages.
Sysmex Corp., the world's largest manufacturer of blood analysis devices, predicts sales in China will rise 129 percent to more than ¥10 billion in the year to March 31. Shimadzu Corp., which makes X-ray and cardiovascular monitoring equipment, sees a 26 percent jump to ¥18.6 billion. Terumo Corp., Japan's largest maker of medical devices, projects revenue will double in China by the year through March 2014.
Domestic medical firms are capitalizing on plans by Chinese Premier Wen Jiabao's government to broaden health care provision, positioning China to become the world's third-largest health care market by 2015, according to an October estimate by the Espicom Business Intelligence pharmaceutical and medical research group.