Future Market Insights (FMI) offers vital insights on the leading companies in the China first aid market in its research report, “First Aid Market: China Industry Analysis and Opportunity Assessment 2015-2020.”
The companies analysed by FMI in its research report include Reckitt Benckiser, Johnson & Johnson, Winner Medical Co., Ltd., Yunnan Baiyao Group, 3M, Nepstar Drugstore, 7-Eleven, Beijing Hualian Group, and A.S Watson Group.
According to FMI’s research, drug stores remain the dominant sales channel for the majority of the companies operating in the China first aid market. Convenience stores are the other key distribution channel for these players.
FMI’s analysis of Reckitt Benckiser revealed that the revenue generated by the hygiene segment accounted for nearly 43% of the total revenues. Its flagship product “Dettol” accounts for over 80% market share in China antiseptic liquid segment.
Innovative marketing campaigns, and availability of a wide range of product offerings are the key strengths of the company, however, its late entry in the China first aid market can pose challenges for its growth. Furthermore, threat from local players, such as Yunnan Baiyao can impede its growth during the forecast period 2015-2020.
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FMI’s research on Reckitt Benckiser’s position in the China first aid market revealed that increase in consumer awareness and urbanisation is creating demand for antiseptic products — this trend is visible in Tier 1 and Tier 2 cities.
The key business strategies of the company in China first aid market include emphasis on launching new products, increased spending on mobile marketing, and stronger focus on power brands in hygiene category.
New Jersey based Johnson & Johnson has a strong presence in the China first aid market. The revenues generated in China accounted for 1.5% of the global revenues of the company.
Johnson & Johnson has a strong research and development model in China, and its flagship brand Band-Aid holds a dominant position in the wound care segment. The company is focusing on expanding its product portfolio by introducing new first-aid and consumer health products in the market.
Johnson & Johnson has a joint venture with Xian Janssen Pharmaceutical Co., Ltd., offering the company a strategic advantage in the China first aid market.
Winner Medical Group Co., Ltd. is another dominant player in the China first aid market. Revenues through medical products account for nearly 87% of the overall revenues of the company.
PurCotton, the flagship brand of the company, accounts for a substantial share in the first aid market in China, however, a major weakness identified by FMI is that Winner Medical Group Co., Ltd. has low market presence in the bandages and disinfectants segment. Further, threat from international players, such as Covidien can impede the growth of the company in the near future.
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Winner Medical Group Co., Ltd. is focusing on direct sales to hospitals in Guangdong province and Hong Kong. The company also has tie-ups with numerous hospitals in Chengdu and other parts of South China.
Yunnan Baiyao is a traditional Chinese medicine manufacturing company. FMI opines that China’s accession to World Trade Organization can create growth opportunities for the company.
Yunnan Baiyao is a local company, owing to which it has a strategic advantage in the China first aid market. Increasing popularity of traditional Chinese medicine is a key strength of the company, whereas limited product portfolio can create obstacles for growth.