Randox Continues Growth In China
7th October 2017 Paul Andrews
Global health diagnostics provider Randox has maintained its status as a significant competitor in the Asian market by participating in the NCML Exhibition in Hangzhou.
The NCLM is the largest laboratory equipment exhibition in China dedicated to the advancement of diagnostic equipment and is an annual staple of the country’s top medical equipment firms. Also attracting some of China’s top clinical science talents, the exhibit was held in the capital of China’s Zhejiang province.
In-vitro diagnostic (IVD) equipment, which enables diagnosis and monitoring of samples taken from the body, was the sole focus of the exhibition but an essential aspect of the IVD process is Quality Control. The Quality Control Market is a lucrative one and continues to grow – estimated to be worth $1.04 billion by 2022.
Over many years, Randox has developed the largest global EQA (External Quality Assurance) scheme available on the market, RIQAS, which offers laboratories around the world assurance that the results they are releasing are accurate and reliable. With just under 40, 000 participants in 132 countries and 32 flexible programmes, it is little wonder that the global health technology giant is predicting huge growth in Chinese territories.
Randox has been involved in trade in China for over 20 years and has been making significant strides in the Asian market recently through a strategic Chinese market expansion launch in December 2016. This expansion has included the securing of distributors across four of the largest provinces in China and partnerships with hospitals in Guangzhou, Shanghai and Wuhan.
Preceding the NCML Exhibition, in February 2017, Randox launched a major recruitment drive to hire Mandarin-speaking graduates in Northern Ireland who could join the sales, marketing and scientific teams in China. The company, which employs over 1,400 workers worldwide, was supported by Ulster University and its Confucius Institution in this recruitment campaign.
Ying Zhu, Sales Manager for Randox Laboratories in China, commented on the success Randox has seen in China over the last ten months, “China is one of our key markets and we were delighted to showcase our capabilities at China’s largest IVD equipment exhibition recently. Randox in China has been growing from strength to strength in the last year, building on a solid foundation laid in 20 years of trade with the country. We continue to increase our presence in the Asian market thanks to increased output from our innovative R&D programmes, and enhanced manufacturing capabilities, including new facilities at the Randox Science Park, our new headquarters in Antrim. These infrastructural developments have resulted in an increasing range of products which we can now offer to growing and dynamic markets such as China. This increasing range of products coupled with a growing market presence has significantly increased our business penetration and subsequent support to customers.”
Margaret Fick, RIQAS Scientist added, “At our most recent training conference in China, we were very pleased to host several of our newly acquired hospital partners who presented to our audience how many laboratories have benefitted from our Randox Quality Control products. The testimonials from high profile individuals who have experienced the quality, efficiency and reliability of our products is accelerating our growth across China. Our inclusion at the NCLM Exhibition marks another cornerstone in Randox’s expansion in China.”