Over 200 Global First-in-Class Medical Innovations Unveiled: China's Defining Moment in Healthcare Innovation

Among the phenomenal achievements in medical innovation lies the most certain manifestation of “national destiny.”

A large number of innovative drugs and medical devices with original Chinese innovation have been approved for market launch.From 2015 to 2024, the National Medical Products Administration (NMPA) reviewed and approved a total of 169 innovative drugs and 314 innovative medical device products. Notably, between 2022 and 2024, a total of 182 innovative medical device products were approved, a figure that far exceeds the cumulative total of 132 products approved over the seven-year period from 2015 to 2021.

Source: VBInsight

2024 witnessed multiple breakthrough advancements: renal artery radiofrequency ablation, the first domestically produced devices in the field of external ventricular assist, interventional gastrointestinal therapies for metabolic diseases, and the “world’s only” genetic diagnostic test for systemic lupus erythematosus. Among the 66 approved products, 37 were recognized as “first-of-their-kind,” accounting for a significant 56%. This marks an accelerated transition in China’s medical innovation from “following and imitating” to “pioneering original innovation.”

Meanwhile,China’s Pharmaceutical Industry Sees a Pivotal Turn in BD Deals.In 2024, both the number and value of license-out transactions far exceeded those of license-in deals. Leading companies such as Hengrui Medicine and BeiGene have accumulated international influence through multiple licensing agreements, while post-2020 startups like Bowang Pharmaceutical and Yilian Biotech have rapidly entered the global market by leveraging differentiated technologies. Furthermore, innovations in transaction models—such as the NewCo model, joint international expansion, and equity partnerships—along with the exploration of emerging markets, have injected new momentum into the industry.

Data Source: VBInsight

The concentrated showcase of China’s innovative drugs and medical devices marks a pivotal shift: in the healthcare and pharmaceutical sectors, China’s innovation is transitioning from imitating Western models to independently defining standards, demonstrating the capability to compete on equal footing with the world’s strongest rivals.

However, we also observe challenges in building a new ecosystem amid these changes: innovative companies face significant uncertainties in identifying reliable and capable market partners; it remains difficult for innovative products to achieve optimal visibility and maximize their market impact; and investment institutions lack standardized approaches to post-investment management, particularly in securing market access.

Amidst the tremendous opportunities and challenges brought about by structural changes, the VCBeat VBEF Future Healthcare & Pharma Top 100 Exhibition (hereinafter referred to as “VBEF”), which has been deeply engaged with the medical innovation industry for a decade, arrives as scheduled. Bearing the mission of accelerating the growth of China’s medical innovation industry, it promotes the establishment of a new innovation ecosystem.

In 2024, VCBeat proudly launched the annual product-oriented selection, the “VBEF Healthcare Industry Innovation Product List.” More than 500 medical innovation companies submitted applications, and 200 innovative medical products and solutions with industry representativeness stood out. Notably, up to 80% of these products and solutions were global premieres or first-of-their-kind innovations, fully demonstrating the innovative vitality and global competitiveness of China’s healthcare industry.

In 2025, to ensure that every noteworthy Chinese innovation receives greater attention and more opportunities for exposure, the VBEF Organizing Committee comprehensively upgraded the award structure and core evaluation criteria, aiming to amplify the global impact of China’s healthcare innovations with greater momentum.This year’s “Product Awards” will focus on the following three key areas, deeply exploring and showcasing innovative products and solutions with breakthrough value.。

“The VBEF Future Healthcare Top 100 Innovation Award – Product Category” has a product submission deadline of March 31, 2025. You are welcome to scan the QR code to register; VBEF will provide you with global market resources and distribution channels.

[Product Award Application Channel]：https://vb100.mike-x.com/CuHfe

To better demonstrate innovative value and facilitate product commercialization, the “VBEF Future Healthcare Top 100 Innovation Awards – Product Category” also leverages VBEF’s five core pillars—“Forum, Selection, Exhibition, Report, and Resource Matching”—to continuously provide innovative products with new opportunities for channel expansion.ForProvide industry stakeholders with comprehensive, multi-level support to meet diverse needs, including efficient investment and financing, business development (BD) collaborations, supply chain transactions, finished product trading, and overseas market expansion.the optimal setting.

The VBEF Innovation Exhibition features eight exhibition zones, covering the Innovative Medical Device Products Exhibition, Medical Device Design and Manufacturing Exhibition, Digital Health and Services Exhibition, Biomanufacturing Special Exhibition, Life Science Instruments Exhibition, Health Consumer Goods Collection Exhibition, Regional Government and Industrial Park Exhibition, and International Exhibition Zone. It aims to provide enterprises with a professional platform for display and exchange, jointly promoting industry development.

VBEF is expected to host over 150 medical innovation companies, with more than 400 innovative products making their debut on-site. Concurrently, a variety of networking activities—including matchmaking sessions, closed-door meetings, and project roadshows—will be held. You will have the opportunity to engage in direct face-to-face discussions with over 2,000 participants from more than 20 countries and regions, including medical device manufacturers, pharmaceutical companies, supply chain enterprises, and distributors. These diverse activities are designed to facilitate efficient and precise business matchmaking.

Industry partners are welcome to scan the QR code to register, engage in direct discussions and explore collaboration opportunities with innovative enterprises, and tour and learn about first-launched or pioneering medical products.