Medtronic finds its own niche in China

When Medtronic Inc, the world's largest independent medical device company by sales, entered China in the 1990s, there were just a couple of foreign medical device companies here. But since then the relatively young medical devices industry has developed rapidly in China, with more foreign medical equipment companies getting market access and domestic companies flourishing, said Simon Li, president of Medtronic China.

Medtronic primarily develops and manufactures devices and therapies to treat more than 30 chronic diseases including heart disease, Parkinson's disease, urinary incontinence, chronic pain and diabetes.

"At that time (1990s), China's patients had limited understanding of medical technology, and relied on advanced technologies and products which were mostly imported," he said. "But since then, the medical device market in China has become more and more standardized."