Second CIIE Medical Innovation Incubation Zone Launches to Empower Global Health Tech Startups' 'China Dream'

ShanghaiMay 26, 2022/PR Newswire/ --The Innovation Incubation Zone (hereinafter referred to as the "Incubation Zone") of the Medical Devices and Healthcare Products Exhibition Area at the second China International Import Expo (CIIE) officially launched in March this year. As the chairman unit of the Medical Devices Committee, BD will actively cooperate with the CIIE Bureau, the Incubation Zone’s partner Wanjiang Innovation Association, and other relevant parties, including members of the committee. Building on the success of the first Medical Device Innovation Incubation Zone at the 2021 CIIE, all parties will leverage their respective strengths, take proactive responsibility, facilitate effective connections between domestic and international supply and demand sides, better serve the Chinese market, contribute to Healthy China, and benefit Chinese patients and citizens. This year's zone carries the theme "Empower Collaboration, Fulfill Dreams in the East," aiming to provide a platform for small and medium-sized overseas medical technology innovators to showcase and trade, accelerating empowerment.

Currently, China's medical device sector has entered a period of rapid development, becoming the world's second-largest medical device market with a scale of $122 billion. Meanwhile, China also has the fastest growth rate globally.FastestThe market has an average annual growth rate of 20%. During the "14th Five-Year Plan" period, to promote the rapid development of the medical device industry, national policies have provided strong support. Five major categories have been listed as key development areas, including diagnostic and testing equipment, treatment, monitoring and life-support devices, implantable (interventional) devices, advanced pharmaceutical equipment, and rehabilitation assistive devices. Additionally, statistics show that a total of 125 innovative medical device products have been expedited for approval and market launch through a green channel.

With the help of the China International Import Expo (hereinafter referred to as "CIIE"), a world-class platform that attracts more than 2,900 companies from 127 countries and regions each year, the cumulative intended transaction volume has reached 70.72 billion US dollars. The Medical Device Innovation Incubation Zone, first established in 2021, has provided an excellent stage for outstanding innovative companies to promote their products, capturing global attention. It successfully attracted medical innovation companies from the United States, Germany, Switzerland, South Korea, France, Italy, Israel, and Singapore to participate. Eventually, 16 products stood out, were exhibited, and negotiations were held regarding their implementation in China, with six projects completing signing agreements.

Launched in March 2022, the Second China International Import Expo (CIIE) Innovation Incubation Zone has further intensified its exhibition recruitment efforts compared to the first edition. Two major innovative highlights underscore the high standards of this year’s event, shining a spotlight on entrepreneurs and investors in the medical device field both domestically and internationally. One highlight is the strong "mentor group," which includes influential figures from the industry, comprising members of the Medical Device Professional Committee (hereinafter referred to as the Medical Device Professional Committee). These members are primarily senior executives from leading companies in the medical device industry, along with active participation from top government and private equity investment institutions, providing comprehensive support to innovative enterprises in optimizing products and development strategies. Additionally, the platform aims to create an industry innovation ecosystem that integrates investment, policy, and insights "three-in-one" to help overseas medical innovation companies realize their dreams in China.

As of now, the first round of online project selection has concluded. Medical innovation projects from the United States, Germany, Switzerland, South Korea, and other parts of the world have taken the stage, actively interacting with experts from the Medical Device Committee member units and medical investment institutions. They showcased their solutions and future development goals, expressing anticipation for the rapidly growing Chinese market, which has drawn significant capital attention to innovative research and development.

The second phase of the roadshow is currently open for enthusiastic registration, with the deadline set for June 25th. The second round of innovative project roadshows is expected to take place between June 29th and 30th.