Taiwanese home healthcare product manufacturers and vendors should establish brand recognition, employ multiple marketing techniques and focus on single-function products to tap into China’s fast-expanding market, an analyst said yesterday.
A host of political and socioeconomic factors will continue to drive growth in China’s home healthcare products market, presenting enormous growth opportunities for Taiwanese manufacturers, Industrial Economics and Knowledge Center (IEK) analyst Wang Chen-yi (王榛驛) told a conference on China’s home healthcare market.
China’s move to improve its basic healthcare system, medical policy and 12th five-year development plan will give rise to opportunities in the healthcare market and drive up sales of home products such as blood pressure meters, glucose meters, breathing machines and oxygen generators, he said.
China’s rapid economic growth, which has raised its consumers’ purchasing power, and an aging population have also fueled demand for healthcare products, Wang said.
The number of people aged 65 and over would be double and triple that of 2010 by 2030 and 2040 respectively, she said, citing statistics from Chinese authorities.
The Chinese home healthcare products market was valued at 17.66 billion yuan (US$2.77 billion) last year, and is expected to increase by 25 to 30 percent from last year to 2016, she said, quoting IEK research data.
The home healthcare product industry is still in its infancy, with development focused on portable, digital and smart devices.
Taiwanese home healthcare manufacturers and vendors are advised to focus on single-function products, such as blood pressure meters, glucose meters, weight meters, massagers and breathing machines, where their strengths lie, instead of competing with US and European manufacturers of multifunctional or all-in-one products, she said.
Taiwanese suppliers should market their products according to consumer needs, which vary with different geographical regions; employ multiple marketing strategies, such as deploying professionals to explain product features and allow consumers to test the products; and expand to cover second and third-tier cities, as well as rural areas, Wang added.
Wang also suggested that Taiwanese sellers focus on promoting brand recognition, sales via Internet and selecting Chinese partners who can help with distribution.
SIZE MATTERS: Medium-sized hotels that do not have the support of parent groups are more vulnerable and are forced to take action, a REPro Knight Frank researcher said About 50 hotels across Taiwan are seeking to exit the market as they succumb to the bleak business outlook amid international travel restrictions imposed to combat the COVID-19 pandemic. Yomi Hotel (優美飯店) on Minsheng E Road, Sec 1, in Taipei is seeking to transfer ownership with an asking price of NT$950 million (US$32.15 million) and a pledge for a lease contract that guarantees a 3 percent return. The budget hotel, with room rates that start from NT$1,400 per night, maintains normal operations, but has been struggling since March, when the government placed restrictions on inbound and outbound travel. Occupancy rates for hotels in
With the US dollar expected to weaken in the next 12 months due to near-zero interest rates, investors should consider purchasing US corporate bonds, Standard Chartered Bank Taiwan Ltd (渣打台灣銀行) said on Thursday. The bank said that the US Federal Reserve since last month has been buying bonds issued by US companies to curb default rates. The US dollar is forecast to be weaker against the pound, the euro and the yen, as well as the Canadian dollar, the Swedish krona and the Swiss franc, as the greenback lacks high investment returns after the Fed in March slashed the benchmark interest rate
A Bollywood actor’s face tattooed on his arm, Sandeep Bacche’s devotion shocks few in India where stars enjoy semi-divine status, but even there the hallowed silver screen might be losing its shine to streaming services and pandemic fears. “Whenever things get better and theaters begin operations, I will watch three movies a day for sure just as a way to celebrate,” said the Mumbai rickshaw driver, who is recovering from the virus himself. However, others might not join the party. With cinemas shut for months due to a COVID-19 lockdown, and little prospect they will reopen soon, frustrated Bollywood producers have turned to
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s largest contract chipmaker, is to issue NT$13.9 billion (US$469.5 million) in unsecured bonds to help fund its plan to expand production capacity, it said on Friday. In a Taiwan Stock Exchange filing, TSMC said the bonds would comprise three tranches: NT$5.7 billion payable over five years, NT$6.3 billion over seven years and NT$1.9 billion over 10 years. The interest rates would be 0.58 percent on the five-year bonds, 0.65 percent on the seven-year ones and 0.67 percent on the 10-year tranche, TSMC said. Capital Securities Corp (群益金鼎證券) is to serve as the main underwriter in