China's Medical Innovation Shines: Over 100 Debut Products to Unveil at VBEF 2024

Over the past decade, China’s healthcare industry has undergone a systemic restructuring. During this period, medical devices have largely achieved domestic substitution, innovative drug pipelines have risen to rank among the top two globally and begun expanding overseas, and healthcare digitalization is fundamentally improving accessibility and efficiency.

Medical innovation is a long-cycle, slow-paced endeavor. To this end, VCBeat has cumulatively reported on over 10,000 companies, conducting long-term observations of innovative enterprises emerging from peripheral and cross-disciplinary fields, and carrying out in-depth research into relevant niche sectors. During this period, VCBeat has published more than 500 original research reports, authored the industry’s first white papers for dozens of niche sectors, and established a logical framework and research paradigm for local medical innovation in China.

Based on a decade of exploration into medical innovation, we have observed that China’s healthcare industry is undergoing continuous structural transformation and has initially established models for innovation.

A noticeable trend is emerging: as China’s innovative medical capabilities rise at an accelerating pace, the global healthcare market landscape is being disrupted and reshaped. Behind this shift, innovative companies are undergoing rapid validation and elimination—some soaring to new heights, while others fade into obscurity. In this era of innovation, how can outstanding medical innovators effectively showcase their strengths and make optimal decisions?

The 8th VBEF Future Healthcare Ecosystem Expo, held from May 7 to May 10, 2024, will serve as the premier platform for showcasing healthcare innovation. Through an integrated framework of “forums + exhibitions + rankings + awards + launch events,” the expo will facilitate in-depth engagement with participants. VCBeat’s 10,000-square-meter exhibition area, alongside more than 30 concurrent forums and closed-door meetings, will highlight groundbreaking healthcare innovations debuted for the first time in China, elucidate future trends for healthcare innovators, and truly demonstrate the power of innovation.

In recent years, China’s medical innovation has surged, driving structural changes in the global healthcare industry amid multiple factors, including enhanced research capabilities, a shift in academic centers, and an influx of social capital.

China’s Original Innovative Medical Devices and Novel Drugs Gain Mass Approvals, Beginning Global Market ExpansionFrom 2015 to 2023, the National Medical Products Administration (NMPA) reviewed and approved a total of 243 innovative medical device products, covering major sub-sectors such as brain science, neurointervention, endoscopy, medical imaging, ophthalmology, and electrophysiology. In particular, the approval of domestic innovative medical devices has accelerated in the past two years. From 2022 to 2023, a total of 116 innovative medical device products were approved in China, approaching the sum of approvals over the six-year period from 2016 to 2021.

(Data source: National Medical Products Administration over the yearsMedical Device Registration Work Report）

China’s Medical Product Innovation Capabilities Have Reached the Global Forefront. After decades of accumulation, China’s healthcare industry has transitioned from following and imitating to pioneering original innovation, with domestically developed innovative medical products now ranking among the global first tier. For instance, Chinese innovative enterprises have proactively laid out pipelines in new product technologies such as continuous glucose monitoring (CGM), pulsed field ablation (PFA), surgical robots, valve devices, artificial hearts, and innovative drugs; their related innovative products are comparable to those of global giants in terms of development progress and technological prowess.

More and more Chinese healthcare companies are accelerating their global expansionOverseas revenue has become a significant commercial source for Chinese innovative medical enterprises. Relying on stable performance, reliable quality, and cost advantages, domestically produced innovative medical devices are capturing a larger share of the global market. Moreover, it is not only medical devices; domestic innovative drug pipelines are also accelerating their global expansion. For instance, the number of innovative drug pipelines in China now ranks among the top two worldwide, continuously reshaping the global landscape through business development (BD) activities. Data shows that in 2023, the total value of BD transactions by Chinese pharmaceutical companies reached a new high of $50.59 billion, with 124 transactions recorded. Among these, there were 53 license-out deals, with a total transaction value of $42.59 billion, accounting for 84.2% of the total.

(Data source: MedPartner Capital, VBInsight)

(Data source: Meibo Capital, VCBeat New Medicine)

Today, China’s medical innovation has developed the capacity to pose, define, and solve problems, standing at the threshold of a new era. With the rise and global expansion of China’s medical innovation, the global healthcare industry will undergo structural changes driven by the influx of “Chinese power.”

However, in the process of this structural change, Chinese innovative enterprises and domestically produced innovative medical products still face many problems, such asNew Products, New Strategies, New Clinical Practices, New Ideas, and New Standards in the Innovation Ecosystem All Need to Be Reestablished。

Nowadays, an increasing number of innovative Chinese medical products are being approved for market launch. However, these products still lack systematic opportunities for exposure, innovative enterprises lack a reliable platform to seek partners, and distributors seeking breakthroughs also lack a centralized venue to discover innovative medical products. As the industry landscape undergoes a transition from old to new, the market will experience short-term growing pains.

In response, VCBeat has upgraded the Future Healthcare Top 100 Conference, which it had hosted for several consecutive years, into the VBEF Future Healthcare Ecosystem Expo. This transformation leverages VCBeat’s decade-long deep engagement in the field of healthcare innovation, along with its coverage and research of more than 10,000 healthcare innovation enterprises, aiming to accelerate the growth of China’s healthcare innovation industry and foster a new innovation ecosystem.

This edition of the exhibition will focus on the collaborative value across the industry chain, connecting upstream, midstream, and downstream sectors of the healthcare industry. It will highlight global medical innovations and foster comprehensive integration and interaction across technology, products, enterprises, industries, and ecosystems through its five-pillar framework: “Forums + Exhibitions + Rankings + Awards + Launch Events.”

Among them, wePioneered the highly innovative and leading product showcase event, “VBEF Medical Innovation Product Launch Zone”At the VBEF Medical Innovation Product Launch Zone, China’s innovative forces will be systematically showcased and centrally highlighted, fostering the organic growth of innovative products.

We are committed to establishing the “VBEF Medical Innovation Product Launch Zone” as the premier platform for healthcare enterprises to debut new products, strategies, and clinical applications; a hub for generating new ideas; a source for issuing new standards; and a convergence point for information among technology innovators, distributors, channel partners, and end-users. Serving not only the domestic market, it also acts as a systematic window for Belt and Road Initiative countries and the Global South to access China’s innovative medical products.

“VBEF Medical Innovation Product Launch Zone” May Become the Premier Debut Platform for Innovative Medical Products in China, Thanks to VCBeat’s Decade-Long Accumulation in Building a Healthcare Innovation Ecosystem.

“VBEF Medical Innovation Product Launch Zone” is an exhibition, a launch event, a ranking list, and a live-streaming session.Namely, the major modules under VCBeat, including the VBEF Offline New Product Launch Zone · Custom-Built Booths, VBEF New Product Launch Conference, VBEF Top 100 Innovative Products in the Healthcare Industry, and VCBeat’s Curated New Product Review Livestream.

Meanwhile, by integrating with the VBEF Future Healthcare Ecosystem Expo, the VBEF Medical Innovation Product Launch Zone will synergize five core components—“Forum + Exhibition + Rankings + Live Streaming + Press Conference”—to systematically empower medical innovation enterprises and enhance the visibility of their innovative products.

VBEF Offline New Product Launch Zone · Custom-Built Booth InteriorFive Featured Exhibition Zones: Future Healthcare Key New Technologies Exhibition Area, Future Healthcare New Product Launch Zone, Future Healthcare New Services CXO Exhibition Area, Future Healthcare New Ecosystem Exhibition Area, Future Healthcare International New Cooperation Exhibition Area.

Exhibition Area of Key New Technologies for Future Healthcare:It primarily showcases products in healthcare sectors facing critical technological bottlenecks, such as key upstream technologies in biopharmaceuticals and medical devices, as well as core raw materials and components like electronic components, chips, and CT X-ray tubes.

Future Healthcare New Product Launch Zone:Showcase new products launched in the past year across fields such as biopharmaceuticals, medical devices, high-value consumables, digital health, and supply chain solutions, including small-molecule drugs, surgical robots, and medical AI software.

Future Healthcare New Services CXO Exhibition Area:Showcasing leading, representative, and innovative pharmaceutical CXO and medical device CXO companies, as well as industry chain enablers providing smart healthcare services.

Future Healthcare Ecosystem Exhibition Area:Showcase partners with global market channels and influence, such as embassies and consulates, international organizations, financial institutions, major pharmaceutical companies, distributors, and global media.

Future Healthcare International New Cooperation Exhibition Area:Featuring themed booths such as the “Belt and Road” International Exchange Exhibition, the event showcases new technologies, new products, and new ecosystems from countries and regions associated with the Belt and Road Initiative and RCEP, as well as from the global healthcare industry.

In addition, there areExhibition on the Industrial Innovation Ecosystem for the Coordinated Development of the Beijing-Tianjin-Hebei RegionDistrict、Joint Exhibition of Outstanding Scientific Research and Innovation Achievements from Universities and Collegesthemed exhibition zones, showcasing the innovation ecosystem, translation of scientific research achievements, and more.

Notably, the dedicated zone will collaborate with the “Center Stage” to centrally showcase new products, technologies, and services, providing cutting-edge insights into the healthcare industry and precise matchmaking services.

The VBEF Organizing Committee anticipates participation from over 200 medical innovation companies, with 100 innovative products to be launched on-site. Industry professionals are welcome to scan the QR code to register, engage in in-depth exchanges and cooperation negotiations with exhibiting companies, and visit to learn about first-launched or pioneering medical products.

(Scan the QR code to register for the 8th VBEF Future Medical Ecosystem Expo, scheduled from May 7 to May 10)

As of now, dozens of innovative companies have confirmed their participation, with over 500 enterprises and products having registered for the Healthcare Industry Innovation Ranking.

For example,Chronos, One of the World's Top Three Independent CT Tube ManufacturersConfirmed to make its debut exhibition with the new CT X-ray tube product, AU200 C40; Chaojieli will showcase its independently developedThe World's Smallest Fully Flexible Dual-Arm Endoscopic Surgical RobotDebut;MathWorks, a World-Leading Developer of Mathematical Computing SoftwareWill exhibit with MATLAB, “the language of technical computing.” For more exhibitor information, please continue to follow VCBeat’s coverage.

To better build a globalized resource network, the VBEF Organizing Committee has invited distributors, agents, and channel partners from more than 20 countries and regions. Exhibitors from Belgium, Australia, Germany, Spain, Ireland, Canada, and other nations have already confirmed their participation. The exhibition will provide these participants with curated product selection lists, promoting high-quality Chinese medical innovation products with global competitiveness to international buyers, thereby facilitating beneficial exchanges between Chinese enterprises expanding overseas and the global market. Additionally, this event will collaborate with global media partners to empower innovative companies in achieving dual growth in both brand influence and market presence.

Over the course of the three-day exhibition and exchange, the VBEF Organizing Committee will transform the “VBEF Medical Innovation Product Launch Zone” into a premier platform by hosting new product launches, unveiling the “Top 100 Innovative Products in the Healthcare Industry” list, and conducting live-streamed product showcases.An Exhibition Unlike Any Other, focusing on shapingThe Premier Launchpad for Innovative Products in China's Life and Health Sector。

Since it is positioned as the “launch site,” the core focus is on innovative products.

To selectNew products that best represent the current global standard of medical care, feature advanced technologies, and exert an industry-leading influenceThe VBEF Organizing Committee will select 100 innovative products based on four primary indicators and more than ten secondary indicators, forming the “Top 100 Innovative Products in the Healthcare Industry.” The selection results will be announced at the VBEF Future Medical Ecology Exhibition and promoted through a media matrix including VCBeat, VBNewMed, VBOrange, and VB100.

Products selected for the “Top 100 Innovative Products in the Healthcare Industry” will concurrently hold offline new product roadshow and launch events, while the corresponding “VBEF Medical Innovation Product Launch Zone” will become the premier launchpad for innovative medical products in China.

Truly innovative products are backed by objective evaluation criteria.For the “Top 100 Innovative Products in the Healthcare Industry” list, the VBEF Organizing Committee will conduct evaluations based on indicators including technological innovation capability, clinical application value, market potential, and industry influence.

First, assess the product's technological innovation capability. This primarily involves evaluating the new technologies applied in the product, including their originality, functionality, and usability, as well as the breakthrough iterations they bring to medical practice. For instance, products that are global firsts, China-first launches, or those that resolve critical technological bottlenecks are considered to possess strong technological innovation capabilities.

Second, evaluate the clinical and application value of the product.This primarily involves evaluating the product’s clinical need, market potential, and clinical efficacy. In clinical practice, there are currently diverse unmet needs, such as those for medical aesthetic weight loss, chronic disease management, and treatment of severe conditions. During the evaluation process, factors such as the size of the population covered by the product’s indications and the urgency of patient demand will be used to assess the significance of the clinical need. Meanwhile, the product’s clinical data and evidence will demonstrate its efficacy and risks, thereby comprehensively showcasing its clinical value.

3. Assess the product’s industry market size.This primarily involves assessing the product’s commercial value. After all, a product that is innovative but not commercially viable holds no value for clinical practice or the market, regardless of its level of innovation. From a product perspective, the evaluation will focus on its advantages in terms of performance, quality, and pricing; its progress in global market expansion; and its market leadership.

Fourth, assess the product's industry influence.This primarily evaluates the product’s level of capital attention, national or provincial honors, and media coverage. By analyzing capital attention, honors, and media coverage, it assesses market recognition of the product’s innovativeness.

Based on four primary indicators and more than ten secondary indicators, the VBEF Organizing Committee will strictlySelect truly innovative products on a global scaleIt is understood that companies selected for the “Top 100 Innovative Products in the Medical and Health Industry” list will be invited to attend the conference to receive their awards and will enjoy benefits such as a free live broadcast on VCBeat’s column “VCBeat Selects: New Product Review.”

Meanwhile, selected companies can also leverage“VBEF New Product Launch Event”Showcase its innovative products to enhance their visibility and drive collaboration across the industry chain.

It should be noted that the “VBEF New Product Launch” is positioned as the premier debut stage for innovative products from healthcare enterprises in China and around the world, a dedicated zone for high-impact roadshows of innovative products, and a high-quality promotion platform for promising global products. Its aim is to launch new medical products that feature technological advancement, meet clinical medical needs, and demonstrate outstanding industry-leading impact.

If your company also strives to make further strides in medical innovation and seeks to access more market resources and discover global channels, participating in the “Top 100 Innovative Products in the Healthcare Industry” list and making your debut at the VBEF New Product Launch Session of the 2024 Future Healthcare Ecosystem Expo may be your most effective approach.

Products eligible for selection must be those that the enterprise has launched and released between January 2021 and March 2024, as well as products not yet publicly announced but intended for their debut at the exhibition.

For products in the category of “innovative biological drugs and biologics,” they should be relatively mature products that have already entered clinical stages and beyond.

Furthermore, candidate products must demonstrate significant advantages over other products in at least one of the following areas: application technology, specialty-specific clinical needs, specialty-specific treatment efficacy, or process efficiency; alternatively, they must achieve breakthrough innovations from scratch in at least one of the following aspects within their research field: concept, technology, product, platform, or service.

“Top 100 Innovative Products in the Healthcare Industry” Call for Entries: January 12 – March 31, 2024. Scan the QR code to register. Outstanding innovative enterprises can scan the QR code below to access the portal and complete their application information online. Leave the rest to us!

http://ld7z28xexaa8eutl.mikecrm.com/MMQ1izA

For detailed information on the call for entries for the Top 100 Innovative Products in the Healthcare Industry, please refer to the link:https://www.vbdata.cn/1518946751