The current situation in the caster industry is very optimistic, but we cannot be complacent. We need to quickly identify the development demands of the current market and continuously introduce new products. So, what are the competitive advantages of professional medical caster manufacturers?
1. Low Profit:
With the increase in caster manufacturers, malicious competition among peers, and rising labor and raw material costs, the overall cost for caster companies has increased, and profits have decreased. This has prompted some companies to use inferior products to cut costs and increase profits. High labor costs, high financing costs, heavy tax burdens, high institutional transaction costs, low product quality, low technical standards, low brand recognition, and low corporate credibility all limit the competitiveness of Chinese manufacturing.
2. Need for Innovation:
Currently, many caster manufacturers are unwilling or afraid to innovate, and some innovations are merely imitations of new ideas, keeping the innovation level of the caster manufacturing industry at a low point. As a manufacturing industry, to improve competitiveness within the sector, product innovation is essential. Only by developing innovative products and ensuring quality control can a company enhance its core competitiveness and maintain a strong position in the caster industry.
3. Sufficient Brand Awareness:
It is understood that the entire caster industry currently has weak brand awareness. Many companies do not have their own brands or trademarks, and those that do often do not protect their brands well. China's manufacturing brand market has low recognition and weak competitiveness, with only 31 companies in the global top 500 brands and only 7 in the top 100. Building caster brands is vital for expanding effective supply and promoting supply-side structural reform and must be given high priority. Intellectual property protection should be strengthened to safeguard innovation achievements and create an environment that encourages and supports innovation.
4. Improving Caster Product Quality:
Inferior products have already had a significant impact in China, affecting entire industries to a certain extent. Companies pursuing profit disrupt industry balance and lower overall product quality in the caster sector. Many companies focus on product packaging rather than the product itself, using brand names while engaging in substandard practices.
If the caster industry addresses these four major issues, its development prospects will be extremely promising.