The heart is the only broken instrument that works.” — T. E. Kalem
India and China are competing hard for every possible inch in the battle of capturing the highest possible market share in the scientific instrument segment. China has many advantages at the moment though India could soon outpace them in this category. Below is a brief analysis:
Crouching Tiger ( India’s Perspective)
The scientific instruments segment globally offers huge market potential to the Indian companies. With the steep rise in population and the occurrences of new diseases, the governments all over the globe have renewed their focus on the health sector like never before. In India, the health ministry has taken several initiatives to improve the overall medical conditions and its availability. All this has pushed the demand for scientific instruments manifolds.
Indian companies have many advantages in this sector including easy access and availability of the raw material. So far, Ludhiana (Punjab) has been the hub of scientific instruments manufacturing, other cities are also being incentivised to gear up towards this industry. Another advantage which Indian companies have is that they have a better image in the world market in terms of being more investor friendly and offering ease of regulations as compared to China.
Experts believe that after China the world is looking at India to be their main manufacturing hub and Indian scientific instrument manufacturers shouldn’t loose this opportunity and seize it with both hands.
Hidden Dragon (Chinese scenario)
The scientific instrument market in China is growing at a rapid pace. Though, China has usually been criticised in the past for excessive mass production without giving much thought to the quality, even then, the Chinese companies have continued to make deep penetration into the world markets, in their bid to emerge as market leaders.
Industry insiders reveal that currently the Chinese companies have their hold in the low grade instrument segment and the high grade instrument segment is controlled by international majors like Agilent, Johnson & Johnson, Pan Pacific, Siemens, Bayer, Philips, Oxford, Omron Japan, Hitachi, Toshiba Deng Jun and others.
It appears as if the Chinese government isn’t too amused with the current standing and is taking some bold steps to strengthen the domestic companies by drafting some policies which may eventually sound a death knell for the foreign companies. Though this change may benefit other low cost destinations like indian scientific instruments makers etc.
Experts, also point out that China will eventually have to open up its economy, before it could realize its dream of being acknowledged as a market leader and when it does that it will make the battle field more even. Nevertheless, as of now china poses a serious competition to other countries in the immediate future.
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I am a B2B industry analyst. I write about the export industry in India and abroad. My articles attempts to track the EXIM community’s present issues and future challenges in the various industry segments. Hope I am able to provide some valuable information to the exporters and manufacturers in India and across the globe.