Seeking the Next Breakthrough in Domestic Substitution: A High-Level Forum on the Future of China's Medical Device Industry

It is evident that, supported by a series of coordinated national policies, the medical device industry has been accelerating along a fast track of rapid development. According to data from the 2019 Blue Book on China’s Medical Device Industry Development, global sales in the medical device sector are projected to grow from RMB 405 billion in 2017 to RMB 594.5 billion in 2024, with an estimated compound annual growth rate (CAGR) of 5.6%. Meanwhile, the Chinese medical device market reached approximately RMB 530.4 billion in 2018; based on that year’s growth rate of 18%, the market size in China is expected to reach around RMB 700 billion by 2020.

Currently, among China’s listed medical device companies, in vitro diagnostics (IVD) firms constitute the majority. In contrast, global giants in the medical device industry, such as Medtronic and Johnson & Johnson, maintain diversified product portfolios with distinct strategic focuses. Regardless, an era of intense competition and fragmentation within the medical device sector has fully emerged. For Chinese medical device enterprises, the top priorities are to seize development opportunities in this new era, reshape the industrial landscape and their industry standing, and enter a fast-track growth phase; furthermore, it is crucial for them to secure a solid position in the overall market amidst today’s highly competitive global environment.

On October 12, 2020, the "Endogenous Power | Shaoxing Medical Device Industry Innovation and Development Conference" will be held. The event is hosted by the People's Government of Yuecheng District, the Talent Office of the Shaoxing Municipal Committee of the Communist Party of China, the Shaoxing Municipal Science and Technology Bureau, the Shaoxing Municipal Administration for Market Regulation, and the Shaoxing Association for Science and Technology; organized by the Talent Office of the Yuecheng District Committee of the Communist Party of China, the Yuecheng District Science and Technology Bureau, the Yuecheng District Administration for Market Regulation, the Yuecheng District Association for Science and Technology, and the Shaoxing Yuecheng Medical Device Industry Innovation Service Complex; and co-organized by Beijing Lanfeng Capital, Peking University Healthcare Innovation Valley, Shaoxing Lanbei Investment, VCBeat, and the Association for Science and Technology of the Shaoxing Yuecheng Medical Device Industry Innovation Service Complex Park. The conference will conduct a systematic discussion on the development, opportunities, and challenges of domestic substitution in the medical device industry.Registration Portal

To truly drive the restructuring of the medical device industry landscape and foster corporate innovation and upgrading, the "Endogenous Power | Shaoxing Medical Device Industry Innovation and Development Conference" brought together more than 200 industry professionals. The conference featured distinguished guests including Fan Daiming, Deputy to the National People's Congress and Academician of the Chinese Academy of Engineering; Geng Hongwu, renowned expert on medical device policies and Editor-in-Chief of the Blue Book on China's Medical Device Industry Development; Wang Ying, Chairman of Lishi International/Chuangxiequan and Dean of the Lishi International Great Health Industry Research Institute; He Juying, Chief Analyst for the Pharmaceutical Sector at China Securities Co., Ltd.'s Research and Development Department; Wu Shaojie, CEO of Neusoft Medical Systems; Sun Zhaochang, Chairman of Kaiying Medical; Luo Fuliang, Co-founder and President of Haijieya Medical; Xiao Zhi, Managing Director of SDIC Innovation; Li Youjin, Deputy Director of the Cardiovascular Center and Director of the Cardiac and Great Vessel Surgery Department at Ningxia People's Hospital; Chen Chen, Chairman and General Manager of Tongxin Medical; and Ruan Chengmin, Founder and Chairman of Maibo Medical. Adopting an international perspective, the conference focused on current hot topics, including the present state of the medical device industry, changes in the domestic policy and ecological environment, future development trends, and the systematic promotion of innovation and upgrading within China's medical device sector.

The Yangtze River Delta Economic Circle has become a key focus area for the development of medical and health enterprises. Government departments within the economic circle are also accelerating the urban expansion of these companies. As an important strategic city in the Yangtze River Delta Economic Circle, Shaoxing is prioritizing the efficient promotion of medical and health enterprises, particularly those in the medical device sector. At the upcoming Shaoxing Medical Device Industry Innovation and Development Conference, leaders from relevant Shaoxing municipal government departments will not only interpret a series of policies issued to advance the medical and health industry but also host a closed-door government-enterprise seminar on the afternoon of October 12. Partners who stood out in the previous “New Forces | Seeking Partners in the Medical Device Industry” campaign will also participate in this closed-door seminar.

What is the future direction of the medical device industry? What are the future growth trajectories for key subsectors, including high-value consumables, medical equipment, and in vitro diagnostics (IVD)? From the perspective of investment institutions, where lie the emerging, high-value, and hot sectors within the medical device industry? What types of companies are considered “prime targets” by investors? To address these specific questions on industrial development, the “Endogenous Power | Shaoxing Medical Device Industry Innovation and Development Conference” organized a roundtable forum. Senior executives from top medical device companies and representatives from investment firms were invited to engage in joint discussions and explore the future.

We sincerely invite your participation.Registration Portal

Conference Schedule:October 12, 2020

Venue:Within the Shaoxing Yuecheng Medical Device Industry Innovation Service Complex

Conference Agenda:(Draft)

Guest Lineup:

(Guests to be continuously updated)

Endogenous Power | Behind the Shaoxing Medical Device Industry Innovation and Development Conference lies Shaoxing’s pivotal role in building a future city for healthcare and constructing an innovative industrial cluster for health and medical care. One of its main initiators, the Shaoxing Yuecheng Medical Device Industry Innovation Service Complex (hereinafter referred to as the “Yuecheng Complex”), serves as a representative model of Shaoxing’s innovative cluster development. Breaking away from the traditional operational model of physical space aggregation in industrial parks, the Yuecheng Complex has partnered with Peking University Healthcare Innovation Valley to provide service-centric, innovative park operations for the establishment of medical device enterprises. The Endogenous Power | Shaoxing Medical Device Industry Innovation and Development Conference not only reflects Shaoxing’s continuous advancement in building a future city for healthcare but also demonstrates the Yuecheng Complex’s commitment to enhancing services and ecosystem development for settled enterprises.

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