49 Groundbreaking Domestic Medical Devices Honored: Insights into Innovation Drivers and Product Highlights

May 11, 2024 08:00 CST Updated 08:00

Eyebright Medical

Ophthalmic Medical Product R&D Provider

Vision Xlab

R&D and Manufacturer of Medical Devices in the Field of Optometry and Ophthalmology

AccuMedical

Innovative Neurointerventional Devices and Related Access Devices Developer

Arthrone

Orthopedic Instrument R&D and Manufacturer

KouTech

Developer of Microsurgical Robots

Robotrak Technologies

Ophthalmic Medical Device R&D Developer

Super Vision

Ophthalmic Disease Treatment Product Developer

MicroPace

Developer of Cardiovascular Nerve Stimulators

DK Medtech

Vascular Interventional Balloon Product Developer

Sibionics

Medical Device R&D and Manufacturing Company

Hanglok-Tech

Interventional Surgical Robot Developer

Core Medical

Artificial Heart Series Product Developer

Jinjiang Electronic

Developer of electrophysiology products

Jenscare

Developer of interventional treatment technology for heart valves

MARIX

Developer of Vascular Interventional Devices

Cryofocus

Minimally Invasive Interventional Cryotherapy Device Developer

Cornerstone Robotics

Innovative Surgical Robot Developer

LEADBIO

Medical Device Developer

Leadinno Medical Valley

Developer of Medical Devices and Consumables in the Field of Pain and Neuromodulation

Lepu Medical

Developer and Manufacturer of Cardiac Interventional Medical Devices and Pharmaceuticals

Rossum Robot

Intelligent Orthopedic Surgical Robot System Developer

United Imaging

High-end Medical Device Developer

Nanovision

X-ray Detector and Static CT Product R&D Provider

Peijia Medical

Developer of Cardiac and Cerebrovascular Interventional Medical Devices

Pulnovo Medical

Developer of Medical Devices in the Field of Pulmonary Hypertension Treatment

RAYER

Radiation Therapy Equipment Developer

REUNION

Medical hydrogel developer

Rishena Medical

Implantable Medical Device R&D and Production Manufacturer

NEULIVE MEDICAL

Neurointerventional Medical Device Developer

LifeShield

Innovative Medical Device R&D and Manufacturer

SHURUI

Surgical Robot R&D and Manufacturer

Intalight

High-end Ophthalmic Equipment Developer

Tongee

Medical Device R&D Company in the Field of Metabolic Diseases

BrioHealth Solutions

Ventricular Assist Device Developer and Manufacturer

X-Magtech

Developer of High-End Innovative Medical Devices for Biomagnetic Field Imaging

Wei Qiang Medical

Vascular Interventional Device R&D and Manufacturer

Singular Medical

Developer, Manufacturer, and Seller of Cardiac Rhythm Management Products

LifeTech

Suppliers of Congenital Heart Defect Occluders

eSonic

Innovative Medical Imaging Equipment Manufacturer

Innovation is the core driving force for the continuous development of the industry and a key element for medical enterprises to maintain competitiveness. This year, the importance of innovation has once again been elevated to a brand-new height. Among the nine key tasks for 2024 outlined at the Central Economic Work Conference, "leading the construction of a modern industrial system with technological innovation" was placed at the top, becoming the logical starting point for high-quality development.

In such an era of innovation, China's innovative companies are undoubtedly at a crossroads of transformation and upgrading. Whether it is new products, new strategies, new clinical practices, new ideas, or new standards, everything needs to be re-established. In the process of this structural change, how should healthcare innovators unleash their innovative power while ensuring the operation and survival of their enterprises?

May 8,Proxima Ventures focuses on the key aspects of innovation and transformation in the medical device industry, playing a crucial role, and hosting the "Path to Innovation in China's Medical Device Industry" high-level forum at the Beijing Beiren Yichuang International Convention and Exhibition Center.Tasting China-produced major innovative medical device products with investment institutions, industry companies, and clinical doctors, and uncovering the stories behind the product innovation and development. At the same time, reviewing and prospecting the innovation path of medical devices from multiple perspectives.Exploring an Efficient Path in the Process of Device Innovation, Including Key Links Such as Innovative Validation, R&D, Registration, Clinical Trials, Commercialization, Resource Integration, and Exit Strategies。

It is worth mentioning that this high-level forum, with the efforts of numerous professionals, selected 49 major innovative medical device products or platforms produced in China that have emerged in the past three years. Based on this,Proxima Ventures Releases "China Medical Device 2024 Star Exploration Innovation List"Outline the future development landscape of medical devices. It is reported that a significant portion of the products on this list are global firsts, with over 80% already entering clinical trials, and some having obtained certification to enter the commercialization stage.

From Chinese Production Substitution to the Industry's First: An In-Depth Analysis of Nearly 20 Key Innovations in Medical Device Products

"In the field of medical devices, the integration of interdisciplinary technologies and clinical practice is accelerating. The emergence of a large number of innovative products is driving breakthrough changes in the treatment of some important diseases. In the context of a new era, how medical device professionals and investors can quickly transform global technological innovations into practical applications for disease treatment has become a historically significant task. At this critical juncture of innovation and transformation in the medical device industry, listening to the stories behind product development and industrialization, gathering experiences and strengths from all parties, deeply evaluating innovative products, and learning from outstanding products are crucial for promoting industry progress." said Sun Xiaolu, founder and managing partner of Bilingual Star Venture Capital.

Thus, three highly significant product tasting sessions commenced. These three sessions were hosted by Li Zhe, Managing Partner of Bilingual Star Venture Capital, where nearly 20 key innovations in medical device products were unveiled. Experts from the industry, investment community, and clinical fields provided in-depth analysis and commentary.

● Product Tasting Session 1

At the first product tasting event, seven companies—Cryofocus, LifeShield Medical, Core Medical, Wei Qiang Medical, BRATTEA, Genesis, and Hangzhou Ruidi Biotechnology Co., Ltd.—shared their breakthroughs and explorations on the front lines of product development practice.

Product Tasting Conference - Product Information

Around the above products, Ouyang Chenxi, Chief Physician of the Vascular Surgery Department at Fuwai Hospital, Chinese Academy of Medical Sciences, Wang Jinghua, Managing Partner of Medtronic China Fund, Xu Jun, Managing Director and Head of Strategic Equity Investment Department at Taikang Asset Management, Liang Weibin, Partner at Shanghai BioPharmaceutical Industry Equity Investment Fund, and Ji Tianrong, Founding Partner at Taiyu Investment, shared their insights. They believe that China's medical device innovation and development have achieved remarkable results, showing some excellent leading trends whether in the speed of technological progress, design engineering implementation, or the presentation of final clinical data. In addition, it must be emphasized that during the process of product innovation and development, besides achieving technological breakthroughs, multiple key factors such as cost, clinical application, and marketization need to be comprehensively considered.

● Product Tasting Session II

Product Tasting Session II Product Information

In this session, Li Qiyong, Vice President of Shulan (Hangzhou) Hospital, Song Donglei, founder of Donglei Brain Science, Hu Xubo, Managing Partner of Qiming Venture Partners, Zhou Hao, Partner of Daohe Long-term Investment, and Huang Jinglu, Investment Vice President of Legend Capital, respectively commented on the above products from Jinjiang Electronic, MicroPace, Leadinno Medical Valley, NEULIVE MEDICAL, TANGEE, and Hangzhou Juzheng Medical Technology Co., Ltd. They believed that whether a medical product can be regarded as innovative depends on whether it can solve core problems in clinical practice and meet actual clinical needs. Therefore, the combination of medicine and engineering has become the mainstream of innovative medical devices, and the birth of most of the above projects stems from the pain points and unresolved needs faced by doctors and patients in clinical practice.

Currently, medical devices are subject to strict regulation, and the commercialization process involves numerous complex steps. Companies must define their business objectives when advancing innovative projects. For all enterprises involved in the medical device industry, it is crucial to gain an in-depth understanding of China's commercialization system and its boundary conditions at the early stage of innovation. In addition to the integration of medicine and engineering, the close collaboration among medicine, industry, and commerce also provides a more effective pathway for the transformation of innovative achievements.

● Product Tasting Session Three

Product Tasting Session - Three Product Information

Regarding the products of Nanovision, eSonic, KouTech, Hanglok-Tech, Robotrak Technologies, and REUNION in this round, Lu Ming, Director of the Medical Engineering Department of Beijing Jishuitan Hospital, Pu Zhengrong, Vice President of Siemens Healthineers Greater China and Head of the Clinical Therapy System, Yuan Zhen, Senior Director of Strategy and Business Development at Intuitive Fosun, Cai Daqing, Managing Partner of Sherpa Healthcare Partners, and Zhao Fuqiang, Investment Director of Hotang Venture Capital, each shared their perspectives.

They believe that these products showcase the cutting-edge technologies and innovative ideas in the field of medical devices, not only reflecting the advancement of technology but also addressing the needs of clinical applications. In addition to solving several pain points in operational procedures, practitioners need to further explore whether these products can integrate into the entire application scenario, truly transforming these innovations into outcomes with practical value for clinical practice. For instance, in the field of surgical innovation, while there is a wide variety of products, a single product often only fulfills a minor part of the surgical process. Therefore, during the product development process, it is essential to consider how to enhance the versatility of the product and fully demonstrate its value in clinical applications, converting technological innovation into a feasible product that gains user recognition.

Gather Multiple Perspectives to Explore Efficient Pathways for Medical Device Innovation, R&D, Registration, Clinical Trials, and Commercialization

Three product tasting events deepened the understanding of industry participants regarding the innovation, clinical application value, and future commercialization of Chinese medical devices. However, how an innovative product starts from an idea, goes through prototype design and clinical trials, and ultimately achieves commercialization to complete the entire value loop process is still worth further exploration. Around this theme, professionals from various fields shared insights at the forum, exploring efficient pathways for the innovation, registration, clinical application, and commercialization of medical devices.

In the afternoon, Sun Xiaolu, Managing Partner of Proxima Venture CapitalWith"Accelerate the Integration of Global Innovations into Clinical Practice in China"On the theme, he shared his unique insights into investment and medical innovation. He believes that investors not only need to conduct in-depth industry research, establish a global perspective, grasp technological trends, discover innovative technologies, and rigorously screen investment targets, but also need to build corporate and investment ecosystems. They should support enterprise technology, talent systems, manufacturing, clinical practice, registration, and commercialization to help more companies with innovative technology products truly unleash their development potential.

Sun Xiaolu, Founder and Managing Partner of Proxima Ventures

Under the theme of"Disruptive Innovation Drives the Upgrade and Replacement of Large Imaging Equipment"In the speech,Cao Hongguang, Director and Chief Scientist of NanovisionCombined with the product features and development history of Nanovision's static CT, the path to achieving disruptive innovation for domestically produced medical device products was shared. Cao Hongguang emphasized that true disruption should stem from innovations in foundational technologies, requiring the independent construction of a technical architecture and the ability to independently complete the self-research and production of core components. Achieving self-research across the entire industrial chain, including high-voltage generators, X-ray tubes, chips, and detectors, can break the market monopoly held by foreign giants. By following a "Me first" development path, product costs can be reduced, allowing more funds to be invested into the research and innovation of next-generation products, forming a virtuous cycle that drives the company’s continuous growth and technological advancement.

Cao Hongguang, Director and Chief Scientist of Nanovision

From China-produced Innovation to Global Innovation,Chen Zulin, General Manager of LifeShield Medical (China)Combining the development history, product research and development, team collaboration, and future planning of LifeShield Medical,"Globalization and Localization —— Exploration and Opportunities of Sino-German Cooperative Innovation"Chen Zulin shared on the topic, stating: LifeShield Medical, by adopting a brand-new open architecture, has enabled the China-Germany team to support each other in collaboration, jointly leverage their strengths, and manage multiple aspects such as global concepts, early-stage R&D, process engineering technology development, and the operation of global production bases. During the product development process, the team adheres to ISO standards and incorporates clinical needs from both China and Europe for design input. The German team is responsible for early concept design, while the Chinese team leads process engineering development. In terms of supply chain development, a global supply chain strategy is implemented. The product strategy emphasizes the "three highs": high technical barriers, high market growth, and high gross profit margins, while controlling product risks. Through close cooperation between the China-Germany teams, mutual development and innovation are ultimately achieved.

Chen Zulin, General Manager of LifeShield Medical (China)

After discussing the key points of independent innovation in China and the path of Sino-foreign cooperation, the focus shifts to the implementation of innovative products through the transformation of medical engineering.Lu Ming, Director of the Medical Engineering Department at Beijing Jishuitan Hospital, to"Start with Small Steps, Accumulate to Make a Big Impact —— Walking the Path of Medical-Engineering Transformation"From the perspective of medical institutions, a comprehensive and profound speech on medical engineering innovation was delivered. Lu Ming pointed out that medical engineering innovation requires interdisciplinary collaboration and integration between medicine and engineering. China is not late in this aspect; the key lies in strengthening communication between medical and engineering personnel, as well as deep cooperation between clinical staff and technical engineers. Innovation is not out of reach—the crucial factor is whether one can consistently invest substantial effort, continuously advance on the path of medical-engineering transformation, firmly take each step, and contribute more to the cause of human health.

Lu Ming, Director of the Medical Engineering Department at Beijing Jishuitan Hospital

In addition to the research and development of innovative medical devices, the importance of the registration process cannot be overlooked. On this issue,Yuan Qianhui, General Manager of Junyue Medical TechnologyAs for"Innovative Product Regulatory Registration in China and Abroad"She provided a detailed explanation. She first outlined the overall structure of the global medical device market and conducted an in-depth comparison of the main differences between China and the United States in the regulation of innovative medical devices. She mentioned that the expectations of China's National Medical Products Administration (NMPA) for innovative medical devices mainly focus on key elements such as domestic originality, Chinese leadership, international frontier, and finalized products. In contrast, the U.S. FDA places greater emphasis on the clinical value and innovation points of the product. Finally, Yuan Qianhui concluded that the differences between China and the U.S. in the regulation of innovative medical devices will provide important reference points for companies planning their domestic and international market strategies.

Yuan Qianhui, General Manager of Junyue Medical Technology

As the forum agenda progresses,Deputy Director of the National Clinical Research Center for Cardiovascular Diseases, Director of the Department of Medical Statistics, National Center for Cardiovascular Diseases: Li WeiIn-depth Discussion on "Statistical Considerations in Clinical Trial Design for Innovative Products"

Li Wei, Director of the Department of Medical Statistics at the National Center for Cardiovascular Diseases

Due to the highly non-standardized nature of medical devices, innovative device products face particularly severe commercialization challenges after obtaining certification and entering the market.Wang Zehui, Head of Strategic Cooperation and Investment Department, Guoke HengtaiOn the topic of "Exploration of Commercialization of Innovative Products," the pitfalls and challenges in the commercialization process of innovative products were analyzed, and a series of strategies were proposed. Wang Zewei pointed out that Chinese manufacturers need to adopt a model of small steps, rapid iteration, and quick order replenishment. Starting from end-user market demand, they should work backward, build from the bottom up, and expand from points to surfaces to create innovative products with practical feasibility and commercial monetization potential. On this basis, by collaborating with large supply chain platform companies, upstream and downstream supply chains can be connected. Combined with precise analysis of national medical insurance reforms and centralized procurement policies, product categories and surgical methods can be quickly expanded. A complete matrix-based product line can then be constructed to achieve rapid commercialization in both domestic and international markets.

Wang Zehui, Head of Strategic Cooperation and Investment Department, Guoke Hengtai

Experts Discuss the Path of Innovation in Medical Devices

During the critical period of innovation and upgrading in the medical device industry, how innovative companies can take proactive actions and how all parties can integrate resources from their respective perspectives to further optimize and enhance the development level of innovative enterprises has become a widely concerned issue in the industry. To this end, this forum specially features a roundtable discussion session hosted by Zhu Jun, CEO of Cryofocus, to comprehensively and deeply explore this crucial topic.

At the roundtable forum, Cao Hongguang, director and chief scientist of Nanovision, Chen Xiaojie, vice president of Grand Pharmaceutical (China) Co., Ltd., Peng Yifei, general manager of Tigermed Jietong, Wang Jinghua, managing partner of Medtronic China Fund, and Zhou Hao, partner of Dahe Long-term Investment, engaged in an in-depth discussion on the cutting-edge topic of the path to medical device innovation, revealing the profound implications and diverse approaches of medical device innovation.

Nanovision's Director and Chief Scientist, Cao Hongguang, Focuses on Innovation Development Space, Discussing Key Points that Innovative Enterprises Should Pay Attention to During the Development Process:First, ensure that the product meets a real and broad market demand. Innovation must bring actual economic benefits, not just superficial novelty. Second, innovative projects should have high technical or market barriers to avoid being easily replicated. Finally, exercise caution in decision-making and avoid rushing into action. For fields that have been unexplored for a long time but are valuable, if they have high barriers and market uniqueness, efforts can be invested.

Peng Yifei, General Manager of Tigermed Jietong Pharmaceutical CompanyFrom the perspective of device CROs, the key points for empowering innovation and development in medical device companies were discussed. He talked about the value of device CROs and pointed out that companies tend to make mistakes in the early stages of product design, such as focusing solely on technology while neglecting regulatory compliance and guidelines, which often leads to projects being rejected during the testing phase. CRO companies can offer two types of services to innovative medical device companies: First, they can help companies systematically achieve compliance and market entry in a compliant manner, saving operational costs. Second, starting from the project planning stage, they assist companies in planning the entire product transformation cycle, including product design concepts, industry standards, national standards, and international standards, helping companies better understand regulatory requirements and thus save time. Peng Yifei suggested that innovative medical device companies should collaborate with CROs as early as possible to better plan the entire product transformation cycle.

Wang Jinghua, Managing Partner of Medtronic China FundIn light of the current development trends in the medical device industry, the key elements of innovation have been thoroughly analyzed. He emphasized that innovative activities must be based on real market demands and possess a sufficient market scale, avoiding blind pursuit of innovation while ignoring market realities. During the innovation process, successful cases often undergo a difficult journey of seeking breakthroughs amidst challenges, facing crises multiple times. However, it is through persistent efforts that innovation ultimately succeeds. Today, for Chinese medical device manufacturers, there is a greater need to compete with top-tier manufacturers on the global stage to test their competitive advantages. Meanwhile, Chinese companies have demonstrated exceptional capabilities in product iteration and upgrades, while Western companies hold advantages in original innovation. Both sides should actively seek cooperation. Medtronic hopes to assist Chinese companies in stepping onto the world stage, achieving complementary strengths, and jointly promoting the innovative development of the medical device industry.

Daohe Long-term Investment Partner Zhou HaoFrom the investor's perspective, an in-depth analysis of the current market environment was conducted. He pointed out that over the past decade, the overheating phenomenon in the capital market has intensified market competition. However, the capital winter has also brought opportunities for the market, providing a chance for companies with real potential to stand out. At the same time, with the continuous improvement of policies by the CSRC, trading platforms such as the STAR Market, SZSE, and BSE will actively support enterprises that align with the national strategic development direction. Entrepreneurs and investors should remain calm and rational, deeply considering market trends and their own positioning. Despite the current challenging market environment, channels for going public will gradually open up. The future market is full of uncertainties but also rich in opportunities, bringing new vitality to the market and promoting the emergence of more outstanding enterprises.

The Power Behind Industrial Transformation

As time went by, the "China Medical Device Innovation Path" High-Level Forum came to an end.

Through the high-quality projects showcased at this forum and the viewpoints shared by various guests, it is evident that the path of innovation in the medical device industry is not an easy one. However, in the future, as China's medical device industry pursues "source innovation," maintaining a high level of professionalism, unwavering determination, and sustained patience will surely give rise to a group of Chinese medical device enterprises with global influence. These enterprises will not only lead the progress of the entire industry but also tell the world a unique innovation story that belongs to China.

In this process, internal R&D innovation within enterprises, as well as external market cooperation and capital support, play an essential role. Therefore, with the rise of these globally influential medical device companies, a group of investment institutions focused on China and continuously investing in the source innovation of medical devices will undoubtedly emerge. As the organizer of this forum, Belink Star Venture Capital is a strong testament to this development trend.

In recent years, Proxima Ventures has become a significant and highly regarded force in the field of medical technology investment.

Proxima Venture Capital not only focuses on discovering and evaluating innovative technologies but is also committed to building an ecosystem to comprehensively support the healthy growth of innovative enterprises. In response to the current trend of medical device "going global" driven by the rise of innovative technologies, Proxima Venture Capital has actively made strategic moves, accumulating rich experience in forming multinational teams and developing multinational companies. Relying on China's advantages in engineering iteration, clinical research, manufacturing, and market resources, it continuously explores and attempts various innovative cooperation models, acting as a "guide" to help accelerate the application of global innovations into clinical practice.

In 2023, despite the severe downturn in the capital market, Proxima Ventures remained committed to its original mission, steadfastly supporting innovative enterprises. Throughout the year, it made nine investments, a remarkable achievement within the industry. Additionally, during the entire year of 2023, Proxima Ventures successfully assisted 28 companies in completing financing, injecting new momentum into the innovative development of medical enterprises. It is reported that in the first half of 2024, Proxima Ventures has already invested in five new innovative enterprises.

In the future, Proxima Venture Capital will continue to leverage its strengths, collaborate with all parties, promote the development of China's medical device industry, and support its globalization process. As a driving force behind industrial transformation, it will facilitate innovation and upgrading in the medical device sector.