Riding the Waves Forward: 2023 China Medical Device Global Expansion Summit Concludes Successfully
On July 1, 2023, byTianjin Municipal Bureau of CommerceGuidance,VB100, VCBeatHosted by,Tianjin EconomyManagement Committee of the Technological Development ZoneSupported by2023China Medical Device Global Expansion ConferenceOfficially concluded at the InterContinental Yujiapu Hotel.
In recent years, China’s medical device market has experienced rapid growth. In 2022, the market size was estimated to reach RMB 958.2 billion, making China the second-largest medical device market globally after the United States. The Chinese medical device industry is expected to maintain its high-speed growth trajectory, with promising prospects for future development. Leveraging their exploration of overseas regulations and sales models in recent years, coupled with improved product technology and outstanding cost-performance ratios, domestic medical device companies are increasingly successful in expanding into international markets.
As part of the “Wind Rises in Tianjin – Tianjin Future Medical Innovation Week” series, this conference focuses on medical device exports, with “empowering overseas trade” as its core theme. Integrating international trade cooperation, medical device industry exchange, institutional technical dialogue, and corporate product showcases, the event aims to further build a multi-dimensional ecosystem for medical device exports, promote the transformation and upgrading of medical device trade, and support Chinese enterprises in their innovative development abroad.
Conference Venue
At the main forum of the conference yesterday, guests shared insights on global expansion trends, overseas market experiences, and enabling services, helping companies better understand market dynamics, adjust their strategies and layouts in a timely manner, and providing more valuable guidance for corporate development and transformation. The second day of the conference offered a more detailed analysis, focusing on topics such as “New Opportunities for POCT in the European Market in the Post-Pandemic Era,” “Independent Innovation of Domestically Produced Staplers,” “Expanding Development Space for Medical Equipment in Overseas Markets,” and “The Industrial Future of the Blue Ocean in Radiation-Free Spinal Screening.” Meidiyin took the stage first, focusing on POCT and related issues concerning global expansion, gathering industry leaders to deliver cutting-edge industry insights and perspectives.
New Opportunities for the POCT Market in Europe in the Post-Pandemic Era
Lisha Qiu | Deputy General Manager of MedIn China
Looking Ahead at POCT,Qiu Lisha, Deputy General Manager of MedyIn ChinaIt is projected that in 2024, the initiative will cover 2,000–3,000 pharmacies in Germany (accounting for 10%–20% of the total number of German pharmacies), with a testing market size of approximately €80–120 million. The focus will be on pharmacies and small clinics in relatively densely populated urban areas. Overall, the market prospects for POCT are promising: while the adoption of related technical equipment in Italian pharmacies is already showing an upward trend, the German market is progressing at a slightly slower pace, yet pharmacies there are generally considering expanding into POCT terminal testing. This highlights the potential application scenarios for POCT in settings such as pharmacies, nursing homes, and clinics.
European Market Perception of Chinese POCT Products
Pascal Schommer | Head of CPS Pharma, Germany
Tobias Riedel | Pharmacist at St. Osdag Pharmacy, Germany
Wang Li | Head of Laboremus Laboratory, Germany
In the post-pandemic era, the growing demand for POCT in the European market presents exciting new opportunities.Pascal Schommer, Head of CPS Pharma, a German pharmacyIt is proposed that digital connectivity, such as through applications, offers greater convenience for both customer service and corporate employees, while the application’s backend database enables a clearer understanding of the outcomes experienced by each end customer.St. Osdag Pharmacy, Germany – Pharmacist Tobias RiedelIt is believed that pharmacies will play a decisive role in providing point-of-care testing (POCT) services to local residents in the future, offering significant time advantages over traditional healthcare institutions.Wang Li, Head of Laboremus Laboratory, GermanyWe have shared insights and perspectives on expanding IVD products into the European market. As a bridge connecting the European market with Chinese manufacturers, Laboremus Laboratory aims to help enterprises overcome technical barriers and achieve success.Maxine Swallow, Laboratory Manager at Laboremus, GermanyA comparative analysis of POCT characteristics in China and Germany reveals that Chinese POCT products hold distinct advantages in ease of use, cost-effectiveness, and digitalization. Nevertheless, German products continue to maintain a leading position in terms of quality and specific application scenarios.
International Promotion: Solutions Tailored to Local Markets
Zhou Hao | Marketing Manager, Midea Yin China Market
Zhou Hao, Marketing Manager of Midea Yin China Market DepartmentIt is shared that in the German market, a strong reputation and trust are key to business success. German consumers tend to be rational and composed, exhibiting a strong sense of trust and loyalty. Therefore, Chinese enterprises targeting the German market must place significant emphasis on product quality and attention to detail.
How Can Enterprises Build an Efficient Closed-Loop Service System When Expanding Overseas?
From left to right: Zhou Hao | Marketing Manager, China Market, Meideyin; Chen Xiaofei | Vice President, Laboratory Medicine Branch, Chinese Health Management Association, Ph.D. in Pharmacy; Zhang Wenxuan | Head of Overseas Business Division, Beijing Wantai Biological Pharmacy Enterprise Co., Ltd.; Tian Baolei | Sales Director, Shenzhen Lushiyuan Biotechnology Co., Ltd.; Wu Yan | Vice President, Hangzhou Kebang Gene Technology Co., Ltd.; Qiu Lisha | Deputy General Manager, Meideyin China;
During the roundtable discussion, panelists shared their diverse and insightful perspectives on key questions such as “How to choose a global expansion strategy? How to accelerate product localization? And how to build an efficient, closed-loop service system?”
Regarding the selection of suitable partners,Zhang Wenxuan, Head of the Overseas Business Division of Beijing Wantai Biological Pharmacy Enterprise Co., Ltd.It is noted that prior to the COVID-19 pandemic, Wantai Bio’s primary customers were professional entities such as hospital clinical laboratories, blood banks, and academic research institutions. In the post-pandemic era, it became evident that antigen self-testing products were better suited to current market scenarios. Meideyin, a distributor with a strong emphasis on quality, provided comprehensive, end-to-end strategic planning during the collaboration. This included pricing control, brand positioning, and promotional activities in the German market, thereby bridging the gap between the professional medical sector and the consumer self-testing segment. What factors should enterprises consider when selecting an overseas expansion pathway, and what risk elements need to be taken into account?Tian Baolei, Sales Director of Shenzhen Lushiyuan Biotechnology Co., Ltd.It is essential to conduct an analysis based on the enterprise’s strengths, competitors, and market conditions to establish a clear strategic positioning. Furthermore, selecting appropriate partners is crucial, as the quality and service sustained through long-term collaboration are of paramount importance.Chen Xiaofei, Ph.D. in Pharmacy, Vice President of the Laboratory Medicine Branch of the Chinese Health Management AssociationParticular emphasis is placed on product differentiation. Enterprises should conduct targeted product development based on local conditions to create a landscape of differentiated competition.Vice President, Hangzhou Kebang Gene Technology Co., Ltd.Wu YanHe expressed agreement, stating that based on his personal experience, companies should take a long-term perspective from the early stages of R&D. Only when they have established differentiated advantages and market-ready products can they gain significant advantages in marketing and promotion.Chen XiaofeiThe Ph.D. also placed special emphasis on product quality from a technical perspective. “For IVD products, accuracy, precision, sensitivity, specificity, and stability must all be optimized to an exceptional degree; only such products can gain a firm foothold in overseas markets.” Regarding which product categories are more popular in the German market,Qiu Lisha, Deputy General Manager of Midea Yin ChinaTwo points were emphasized: first, cost-effectiveness; second, encouraging Chinese manufacturers to explore new incremental markets.
Radiation-Free Spinal Screening: The Blue Ocean and the Industry’s Future After the Boom
He Dan | Founder and CEO of Fusote Medical
Next,He Dan, Founder and CEO of Fusote MedicalSharing on “Radiation-Free Spinal Screening”She introduced the world's first on-siteRadiation-Free Upright Cobb Angle Spinal Screening Technology, combined with the "Metaverse Rehabilitation Exercises" for scoliosis, resulting in high compliance and making long-term adherence easier. Meanwhile, Fusote's world-firstSmart Orthotic BraceFollowing data interaction with the spinal data acquisition and analysis system, an automated scoliosis correction plan is generated with the support of artificial intelligence algorithms, and the implementation protocol can be further optimized through manual adjustments.
2023 Award Ceremony for Innovative Cases of Chinese Medical Device Companies Going Global
Through research and development and innovation, China’s medical device enterprises have enhanced the international competitiveness of their products, thereby playing an increasingly important role in global medical device trade. Therefore, based on intuitive trade data, we aim to explore the pathway for Chinese-made medical devices to expand into overseas markets through innovation by analyzing the internationalization strategies and practical case studies of these enterprises, seeking new directions for industry upgrading and development.
Based on this,VCBeat, VB100, VCBeatCo-initiated by“2023 Call for Innovative Case Studies of Chinese Medical Device Companies Going Global”This case collection and selection initiative is grounded in the ecosystem for the global expansion of medical devices, approaching from two perspectives: overseas strategic layout and empowerment services for international market entry, to select and identify“2023 Best Strategic Layout Enterprise for Medical Device Global Expansion”and“2023 Best Enabling Service Enterprise for Medical Device Global Expansion”Among them, the “Best Strategic Layout Enterprise for Medical Device Overseas Expansion in 2023” award was added“Best North America/Europe/Asia-Pacific Regional Layout Case”; The “2023 Best Empowerment Service Enterprise for Chinese Medical Device Companies Going Global” award has added the category of “Best Market Access/Overseas Agency/Export Trade Empowerment Case”This selection process primarily evaluated the innovation highlights, distinctive advantages, achievements, roles and contributions of various participating parties, as well as the significance of the submitted overseas expansion cases for the medical device industry during the review year. After a rigorous two-month screening process, 23 innovative cases were ultimately selected. At this premier event for the global expansion of medical devices, the Organizing Committee announced the “2023 Innovative Cases for Medical Device Overseas Expansion” at the main forum on July 1, with representatives from the award-winning enterprises invited to attend the award ceremony and engage in interactive activities.
The Path for Chinese Innovative Medical Devices to Go Global
Zhang Ao | Executive Director, Qiming Venture Partners
Zhang Ao, Executive Director of Qiming Venture PartnersIt is noted that internationalization is an inevitable path for the growth and expansion of medical device companies. The overseas medical device market is more than four times the size of China’s domestic market, and internationalization has been the common growth trajectory for global medical device giants. China’s medical device exports have been increasing year by year; although low-value consumables still dominate, some leading Chinese enterprises are continuously making breakthroughs in high-end overseas markets. Qiming Venture Partners has consistently encouraged and supported its portfolio companies in pursuing international expansion, providing comprehensive support in terms of capital, talent, ecosystem resources, overseas teams, and its strong base of overseas limited partners (LPs).
Dancing with Elephants: The Sword of Innovation Breaks Through the Siege
Tian Yuan | Co-founder of VINNO
Vinno Co-founder Tian YuanShe elaborated on Vinno’s corporate innovation from four perspectives—product innovation, brand building, pricing strategy, and market promotion—and shared her insights and understanding of overseas markets. She concluded with the phrase “Differentiation through innovation,” stating, “Whether it is brand innovation, technological innovation, or product design innovation, once the right direction is chosen, stick to it. In the medical industry, long-term commitment will inevitably be recognized.”
Medical Devices Stride onto the Global Stage: The Path of Independent Innovation for Domestic Staplers
Zhang Hui | Founder and CEO of Suzhou Intuitive Medical Technology Co., Ltd.
Zhang Hui, Founder and CEO of Suzhou Intuitive Medical Technology Co., Ltd.It is believed that innovation must yield products with universal applicability. In pursuing globalization, it is crucial for enterprises to focus on product differentiation, technological uniqueness, forward-looking market insights and information acquisition, as well as market feedback on their products.
Expert Roundtable: Chinese-Made Medical Devices Go Global: New Logic Amidst Changing Dynamics
From left to right: Zhang Ao | Executive Director, Qiming Venture Partners; Tian Yuan | Co-founder, Vinno; Zhang Hui | Founder and CEO, Suzhou Intuitive Medical Technology Co., Ltd.
In what aspects are the selling points and advantages of domestically produced enterprises more prominently reflected?Vinno Co-Founder Tian YuanWe believe that comprehensively surpassing overseas giants is highly challenging. Therefore, we must first innovate in specific niche segments by anticipating customer needs: What value do customers require? What value do we aim to deliver? Are there currently available technologies that can help achieve this?Zhang Hui, Founder and CEO of Suzhou Intuitive Medical Technology Co., Ltd.It also pointed out that “profound insights into the anticipated needs of market customers are the foundation for innovation; only such innovation serves as the enduring key to truly addressing user problems.”
As early adopters of global expansion, the two also offer advice to companies currently seeking to go overseas.Tianyuan“To avoid pitfalls, it is essential to conduct due diligence and analysis of local distributors. If your competitive advantage is strong, you can forge a tighter partnership with them.”Zhang HuiIt is pointed out that mainstream market countries place great emphasis on patents; failing to meet expectations carries the risk of litigation. Although patent-related costs are indeed high, such investment is worthwhile.
Expert Roundtable: Medical Device Exports Accelerate—How to Expand Overseas Market Opportunities?
From left to right: Shuirou Xiong | Partner, Yueyin Medical Fund; Hua Zhou | International Sales Director / B2C Marketing Center Director, Terui Medical International; Wensheng Wei | Deputy General Manager and Chief Technology Officer, Haijieya Medical; Zhenkun Nan | Director of the International Business Center, Kossel Medical; Rongen Cheng | General Manager, Jiunuo Medical
Cheng Rongen, General Manager of Jiunuo MedicalBelieves that,Compete with global giants in overseas markets to enhance product competitiveness, and then return to develop the domestic market after achieving growth in resources and scale.Director, International Business Center, Kossel MedicalNan ZhenkunThis indicates that the company has also taken a proactive approach to expanding overseas, including participating in exhibitions, increasing online promotion, and signing distribution agreements, progressing step by step.Zhou Hua, International Sales Director / B2C Marketing Center Director at Terui MedicalShare toThe company through“Borrowing a Ship to Go to Sea”: Adjust the strategy by introducing general distributors into China and partnering with large domestic enterprises to expand globally.
When it comes to competition,Wei Wensheng, Deputy General Manager and Chief Technology Officer of Haijieya Medical"pointed out"“This therapeutic area is relatively new, with the therapy still under development; it relies more on patient matching and clinical experience.”Nan Zhenkun, Director of the International Business Center at Coval Medicalemphasizes “The characters “xun” (seek) and “deng” (wait) suggest that domestic enterprises should avoid direct confrontation with industry giants, instead identifying market gaps where these leaders have no presence and exploring potential collaboration opportunities; they must also wait for the right timing and favorable conditions.Cheng Rongenthen supplementedThe Importance of Localization Strategy.
Finally,Xiong Shuirou, Partner at Yueyin Medical FundIn summary,The global expansion of China’s medical device industry has become an unstoppable trend, yet the journey demands continuous improvement. “We hope that through the efforts of entrepreneurs, our focus will shift from merely competing with overseas giants to becoming China’s Boston Scientific, China’s Siemens, and China’s Medtronic!”
Cross-Border Exhibition Zone for Medical Devices
The Cross-Border Exhibition Zone for Medical Devices features two major sections: “Innovation in Global Expansion” and “Excellence in Enabling Services.”IQVIA, Haihe Biopharma, Jilian Group, Meidiyin, PureCert, Yaxincheng, Yita Translation(Listed in alphabetical order, not by priority) These exhibitors attracted numerous attendees to stop and observe, inquire, and negotiate, with a steady stream of visitors at the exhibition.
The 2023 China Medical Device Global Expansion Conference concluded successfully on July 1 after a two-day event. Distinguished attendees included government officials, representatives from embassies and consulates, heads of medical institutions, representatives from medical device manufacturers, and leaders of major medical device industry associations. During the conference, participants engaged in in-depth discussions and exchanges on medical device innovation and industrial development, providing businesses with broad perspectives and strategic insights to facilitate their growth and transformation, thereby enabling them to better meet future challenges and seize opportunities. The event also featured an innovation exhibition, project promotion sessions, and closed-door meetings between government entities and enterprises. To date, the China Medical Device Global Expansion Conference has been successfully held twice. It aims to leverage the rapid growth of China’s medical device industry to help Chinese medical device companies expand into overseas markets and enhance the global influence of China’s medical device sector.