Value players across Medical Device segments, from IVD to Surgical Devices, have been steadily gaining market share in APAC, LATAM, and EMEA. Our client, a leading multinational Surgical Device company, is facing growing competition from Chinese players in LATAM but lacks clarity on the actual impact on their market share. They need a clear understanding of how much these value players have captured within the product categories where they compete.
Clearstate extracted all relevant Asian brands from our Surgical Devices database over the past two years and analyzed year-on-year share changes across each product category. The brands reviewed were primarily from China, with additional players from India and South Korea.
We identified which Asian brands were gaining the most share, highlighting the specific product categories and the pricing advantages they held over international competitors.
Using current adoption trends and buying behaviors, Clearstate projected the potential growth of these Asian players over the next three years, enabling the client to anticipate market shifts and guide strategic decision-making.
Results
Clearstate’s data provided concrete evidence that Asian competitors have not only increased in number in recent years but have also captured significant market share.
This insight enabled the client to fully understand the impact and risk to their business in LATAM. In response, the client established an internal team to monitor these competitors and develop counter-strategies.
Clearstate’s Market Size & Share data tracker, enriched with insights on the growth drivers of Asian players, continues to serve as a key tool for ongoing monitoring and strategic planning.