CHINA UPDATE: Many market opportunities
EDITOR’S NOTE: Rick Rippin, Sales Director for Knoxville-based ABT Molecular Imaging, is one of the members of the Tennessee delegation visiting China and Korea this week. He has agreed to provide us with updates on the trip. Here is the latest one that he filed on Wednesday’s activities.
Wednesday’s Report: We visited the China Medical Equipment Fair in Shenzhen, the country’s largest exhibit for medical products. All the major vendors – GE, Siemens, Philips – were there as well as many Chinese Equipment Manufacturers producing x-ray, CT, and MRI only for the local market. Talking with sales representatives at the exhibit further validated the significant market opportunity in China over the next five years.
Monday’s Report: Met with three potential distributors for China that were all excellent candidates, offering network distribution and service experience. All three verified significant growth in PET in China the next five years, especially in 2nd Tier Cities. Our product is perfectly positioned for this market. We will need to make decision regarding distributor within next few weeks in order to take advantage of this. Heading to Shenzhen for China Medical Equipment Fair, and will provide update.
Sunday’s Report: We arrived yesterday in Beijing. Very clean, metropolitan city, with many international visitors. Americans are welcomed here! We met today with a government company that controls 85 percent of the Radiopharmaceutical Industry in China. They are interested in utilizing the product in the 200 2nd tier cities in China with population of 500,000 to 1.0 million people, to assist in the implementation of Positron Emission Tomography (PET) This represents a significant opportunity for our company. Tomorrow we meet with three additional companies interested in distributing the Biomarker Generator in China.