- Published on 02 October 2013
The Chinese cochlear implant manufacturer Nurotron Biotechnology Co. Ltd. founded in 2006 and headquartered in the city of Hangzhou, is rapidly developing its production capacity and is to become a major competitor in the Chinese market.
Nurotron plans to produce about 1,000 devices this year and has indicated that it intends to build a new factory that will be 10 times the size of its existing facilities in the near future. The company also has an R&D center in Irvine, California (USA) bringing together Chinese and American scientists in the field of nerve electronics. A few months ago, the company received approval from the local State Food and Drug Administration to provide implants in China, enabling it to compete for lucrative Chinese government contracts, including a recent tender to provide underprivileged children with cochlear implants.
The company Cochlear Ltd., based in Sydney, Australia, currently has a 70% market share in China but Nurotron has a significant cost advantage, and is well positioned in terms of connections to the local government and knowledge of the regulatory environment. Its cochlear implants are sold for RMB 78,000 (USD 12,700), which is around half the cost of the units sold by Cochlear Ltd. “This is good news for poor families across China because we can offer good quality products at competitive prices,” says Li Fangping, chairman at Nurotron Biotechnology.
The worldwide cochlear implant market is estimated to represent some USD 1 billion.Source: Nurotron Biotechnology Co. Ltd; Business Spectator Australia