Setting Sail Overseas: 2023 China Medical Device Globalization Summit Officially Opens!

On June 30, 2023, byTianjin Municipal Bureau of CommerceGuidance,VB100, VCBeatHosted by,Tianjin EconomyTechnical Development Zone Management CommitteeSupport for Hosting2023China Medical Device Global Expansion ConferenceOfficially kicked off at the InterContinental Hotel in Yujiapu.

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, propelling China to become the world’s second-largest market after the United States. The Chinese medical device industry is expected to maintain its high-speed growth trajectory, offering promising prospects for the future. Leveraging their exploration of overseas regulations and sales models in recent years, coupled with advancements in product technology and strong cost-performance ratios, domestic medical device companies are well-positioned to successfully expand 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 exchanges, institutional technical dialogues, 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

Xu Fei, Deputy Director of the Administrative Committee of Tianjin Economic-Technological Development AreaTo set the stage, she first delivered the opening remarks. In her address, she expressed the hope to leverage Tianjin’s advantages in ports, free trade zones, and comprehensive bonded zones to seize opportunities for the global expansion of medical devices, thereby promoting the development of the medical device industry. She noted that the biomedical industry in the Economic-Technological Development Area (ETDA) has been growing rapidly, supported by a highly comprehensive industrial supply chain. Moving forward, the area will continue to create a top-tier business environment and provide premium services to fully support enterprise development.

Li Datao |Founder of VCBeat

Li Datao, Founder of VCBeatIn his address, he stated, “Going global is not a new phenomenon; rather, in a world forcibly fragmented, we need to rediscover the essence of going global, leveraging practices originating from China to address global challenges and offer Chinese solutions.”

Kou Yi ｜Executive President and Vice President of the Tianjin Entry-Exit Inspection and Quarantine Association

Kou Yi, Executive President and Vice President of the Tianjin Entry-Exit Inspection and Quarantine AssociationThe advantages of Tianjin’s medical device exports are elucidated from three perspectives: favorable timing, geographic advantages, and human resources.

Sun Jingsheng| Founder of Zhongguancun Shuimu Medical, Former Director of the Medical Device Registration and Supervision Division at the Beijing Medical Products Administration

Sun Jingsheng, Founder of Zhongguancun Shuimu Medical and Former Director of the Medical Device Registration and Supervision Division at the Beijing Medical Products AdministrationShared on-site insights on advancing the innovative development of the medical device industry to serve national strategies.

   Zhou Quan| Managing Director, Legend Capital

Currently, it is imperative for Chinese medical device companies to expand overseas, and they are doing so with steady progress.Zhou Quan, Managing Director of Legend CapitalShared consensus, pathways, and challenges for the global expansion of Chinese medical devices. Current challenges facing Chinese medical device companies going global include stringent foreign regulations, lack of forward-looking and systematic planning among domestic enterprises, low execution efficiency, scarcity of core resources, and high costs and expenses.

Dennis Wilkens ｜Germany Trade & Invest (GTAI) Representative Office in China - Investment Promotion

Li Jiaxuan| Head of China, Healthcare Sector, Business Finland

Meng Lingshi| International China Representative, Quebec Investment Agency, Canadian Embassy

With the continuous development and innovation of China’s medical device industry, an increasing number of companies are turning their attention to overseas markets in search of broader growth opportunities and greater business potential. The conference has invited representatives from the consulates general of Germany, Finland, and Canada to share insights into the market ecosystems of popular destination countries for Chinese medical device exports.Dennis Wilkens, Investment Promotion Representative of Germany Trade & Invest in ChinaShared market trends and investment opportunities in the German medical device industry.Li Jiaxuan, Head of China for the Healthcare Sector at Business FinlandIt was mentioned in the speech that Finland’s key areas of medical innovation include digital health, smart elderly care, and early diagnosis. The focus of Finland’s healthcare services has shifted toward preventive care, rather than being centered on treatment and nursing.Representative in China, Quebec Investment Agency, Embassy of CanadaMeng LingshiIt points out that Quebec is the economic hub of Canada, a widely recognized North American center for life sciences and health technologies (LSHT), and a global center for life sciences and medical technology.

 Liu Wenjing| Chairman of Blue Sail Medical

Shao Qin |Medical Director of Jian Shi Technology, Executive Dean of Jian Shi Academy

Hong Xiaoming| Founder and Chairman of Haihe Biomedical Technology Group

Blue Sail Medical has continuously advanced its global strategy through deep cultivation, evolving into a multinational medical device platform enterprise with China as its core and a global outreach.Liu Wenjing, Chairman of Blue Sail MedicalAt the conference, it was shared that “the globalization of Chinese medical enterprises is necessary and important, requiring us to make full use of the valuable endowments provided by the nation and the era.”Shao Qin, Medical Director of Jianshi Technology and Executive Dean of Jianshi AcademyShared insights on China’s path to innovation in heart valve technology, geared toward globalization.Hong Xiaoming, Founder and Chairman of Haihe Biopharmaceutical Technology GroupDrawing on sound strategic planning, a robust quality management system, adequate staffing, and a well-structured design and development process, we shared insights on how introducing global market access strategies at the product initiation stage can accelerate time-to-market. We also provided recommendations for domestic medical device R&D enterprises, including “proactively incorporating requirements of target overseas markets at the outset of product initiation to guide R&D and design,” and “placing high priority on regulatory compliance for market launch; Chinese medical device manufacturers must adhere to laws and regulations, operate in compliance, and promptly report adverse events.”

Finally,Deputy Director of the Tianjin Municipal Bureau of Commerce, Li JianIn his concluding remarks, he expressed strong confidence in the development of China’s domestically produced medical device industry. The opening ceremony of the conference concluded successfully amid warm applause.

Throughout the entire process of medical device global expansion, service providers specializing in export enablement are continuously refining and enhancing their service systems to safeguard the internationalization of medical device products. During the afternoon session, panelists outlined the most clear-cut roadmap for global market entry for industry practitioners, addressing key topics such as leveraging AI to facilitate device exports, effectively conducting overseas clinical trials, and establishing overseas subsidiaries and manufacturing facilities.

Meng Zhu| Founder and Chairman of PureCert

With the widespread adoption and development of medical artificial intelligence technologies, iteratively evolving AI-generated regulatory document services are emerging as a new paradigm for digital-intelligent solutions in digital CROs. At the conference, PureCert’s industry-first AI-generated Instructions for Use (IFU.ai) and AI-powered medical translation tool (transla.ai) left a profound impression on attendees. Leveraging data collected and aggregated by GRIP, the global regulatory intelligence platform independently developed by PureCert, Meng Zhu, Founder and Chairman of PureCert, also announced“2022 China Medical Device Enterprises Overseas Expansion Index Ranking”。

Scan the QR code to view the “2022 China Medical Device Enterprises Overseas Expansion Index Ranking”

Gao Jiageng | Vice President of Jilian Group

“Risks and opportunities coexist in the process of going global.” Gao Jiageng, Vice President of Jilian Group, conducted a comparative analysis of risk ratings for several popular countries and encouraged enterprises to consider their overseas layout based on their specific circumstances. Regarding the overseas company registration process, he emphasized two key steps: business name verification and tax registration, and provided a detailed on-site introduction to the workflow for establishing overseas manufacturing facilities.

From left to right: Zhihao Chen | Director, Medical Device Consulting, IQVIA; Shengjie Jin | General Manager, Tianjin Rayee Surgical Instruments Co., Ltd.; Lei Zhao | Director and Chief Commercial Officer (CCO), Surgerii Robotics; Zhenkun Nan | Director, International Business Center, Kossel Medical; Jing Wang | Senior Director of Marketing Communications and Public Relations, Yikun Biotech

Chinese medical device companies expanding overseas primarily face three major challenges: selecting target markets, establishing overseas distributor networks, and building dedicated teams for international expansion. In his speech, Chen Zhihao, Director of Medical Device Consulting at IQVIA, pointed out that trade-led expansion is extending from countries with high penetration to those with lower presence, while localized expansion has emerged as a new trend, with more companies establishing their presence overseasThe country has established a team.At the roundtable, participants engaged in discussions centered on “New Forces Going Global Drive the Development of Medical Devices.” Focusing on different products and business lines, they elaborated on the pain points and challenges faced by Chinese manufacturers in expanding overseas, covering aspects such as overseas registration, intellectual property rights, and technical barriers.

Unlike most trade-oriented Chinese companies expanding overseas, Yikun Biology’s initial strategy was the “localized global expansion” model,Wang Jing, Senior Director of Market Communications and Public Relations at Yikun BiotechIt was pointed out that Yikun Bio will also adopt a “two-pronged” approach in the future, pursuing both organic growth and mergers and acquisitions.Nan Zhenkun, Director of the International Business Center at Kossel MedicalEmphasis,To systematically launch products in overseas markets, they must be innovative and feature distinctive highlights, while also requiring a thorough understanding of local regulations, policies, and partners.Zhao Lei, Director and Chief Commercial Officer (CCO) of Shurui RoboticsConfident about the future, he proposed “We believe that original technologies and products from China will become a trend and direction, and we have faith in the power of Chinese innovation.”，Jin Shengjie, General Manager of Tianjin Rich Surgical Instrument Co., Ltd.then finally raises the question, “How to Build a Healthy and Mutually Beneficial Industrial Ecosystem,”"Strive to avoid a vicious cycle akin to the 'involution' prevalent in China."This issue, explored collectively by the attendees, provided significant inspiration and resonated deeply with the enterprises present.

Medical Device Cross-Border Expansion Exhibition Zone

The cross-border exhibition area for medical devices features two major sections: “Innovation in Global Expansion” and “Excellence in Enabling Services.”IQVIA, Haihe Bio, Jilian Group, Meideyin, PureCert, Yaxincheng, Yita Translation(listed in alphabetical order, not in order of precedence) These exhibitors attracted many attendees to stop and observe, consult, and negotiate, with a steady stream of visitors at the exhibition.

Day 1 of the 2023 China Medical Device Global Expansion Conference has concluded successfully. Day 2 will feature discussions 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.” The excitement continues. We welcome enterprises, research institutes, investment and financing institutions, innovation service providers, and other relevant organizations and professionals from across the industry to attend in person and jointly explore new trends in the innovation, entrepreneurship, and development of medical devices!