Five High-Growth Segments Shaping China's Medical Device Industry in 2019

With the increasing maturity of China’s medical device industry technology and its supporting supply chain, driven by national policies such as healthcare reform, tiered diagnosis and treatment, and support for the R&D and upgrading of domestically produced equipment, and against the backdrop of introducing advanced technologies and management practices from the global medical device sector, China’s medical device industry is poised to enter a “golden decade” of rapid development.

Market Consolidation Coexists with Rapid Growth: China’s Medical Device Industry Exhibited Unique Global Characteristics in 2019

In August 2018, the State Council issued the "Notice on Issuing the Key Tasks for Deepening the Reform of the Medical and Healthcare System in the Second Half of 2018》, the document explicitly proposes to “promote the localization of medical devices and facilitate the application and promotion of innovative products.” With regard to the procurement of medical devices, the National Health Commission has called for strict enforcement of the Government Procurement Law to ensure that fiscal funds give priority to the purchase of domestically produced medical equipment.

According to Evaluate MedTech’s “World Preview 2018, Outlook to 2024,” global medical device sales reached $405 billion in 2017, a year-on-year increase of 4.6%. Sales are projected to reach $594.5 billion by 2024, representing a compound annual growth rate (CAGR) of 5.6% from 2017 to 2024.

However, as China’s medical device industry transitions from an agency-based model to one dominated by manufacturers and even innovative exporters, Chinese companies in this sector remain at a comparative disadvantage in the international market in terms of scale, brand competitiveness, core technologies, localization strategies, and global perspective. Various industry trends indicate that the future of China’s medical device market will present both opportunities and challenges.

Based on a comprehensive assessment of market size across various segments and trends in investment, mergers, and acquisitions within the global medical device market, VCBeat has identified five high-growth categories, namely:AI-based imaging diagnostics, personalized custom devices, medical robots, mobile health products, implantable and interventional products, and medical materials...will become a high-growth segment in the medical device market over the next five years.

The healthcare industry’s focus will once again turn to the medical device sector. The impending systemic reforms are bound to deconstruct and reshape the medical device industry, positioning China’s medical device sector for overtaking on the curve and rising against the tide. Every future opportunity hinges on the choices you make today.

2019 Shaoxing International Summit on Medical DevicesOrganized by the People’s Government of Yuecheng District and the Shaoxing Municipal Science and Technology Bureau, undertaken by the Yuecheng District Science and Technology Bureau and the Shaoxing Yuecheng Medical Device Industry Innovation Service Complex, co-organized by Beijing Lanfeng Capital, Peking University Healthcare Innovation Valley, and Shaoxing Lanbei Investment, with Probe Capital and VCBeat as cooperating partners. We are now soliciting high-quality, representative projects in the medical device industry for pitch presentations at the summit. Relevant leaders from the Shaoxing Municipal Government, academicians and experts, renowned investors, and park representatives will be invited to attend. Representatives of the pitched projects will have the opportunity to engage in one-on-one exchanges with the guests on site.

A total of six projects were solicited for this event, with each project allotted 15 minutes for its roadshow presentation. The projects are primarily in the field of medical devices, and submissions were invited for the following areas:

    1、AI Imaging Diagnosis(e.g., AI-assisted diagnosis in radiology, pathological image diagnosis, and contouring assistance for radiotherapy);

    2、Customized Medical Devices(e.g., in vitro medical devices, personalized implants, conventional implants, 3D printing technology-related);

    3、Medical Robots(e.g., surgical robots, diagnostic and therapeutic robots, assistive robots, rehabilitation robots, etc.);

    4、Mobile Healthcare Products(Leveraging big health data to develop telemedicine systems and new types of sensors, mobile medical devices, mobile standalone software, and mobile medical accessories);

    5、Implantable Interventional Products and Medical Materials(Fully bioresorbable coronary stents, heart valves, bioresorbable occluders, artificial joints and spinal implants, 3D-printed orthopedic implants, materials for tissue and organ induction, regeneration, and repair, etc.);

    6、Other Categories: Wound care projects (contact wound dressings, medical wound repair and protective materials, wound debridement, therapeutic devices, etc.), and projects in the field of micro-anesthesia devices or technologies.

1. Over 1 million impressions.Shortlisted roadshow projects will receive article coverage in the roadshow session of the “2019 Shaoxing International Medical Device Summit Forum,” and be promoted across VCBeat’s official website, official WeChat account, event website, and media matrix, reaching over 500,000 VCBeat industry professionals and more than 1,000 investors, with a total media exposure exceeding 1 million.

2. “Precise Matching” of Resources. Over 200 investors, park representatives, government officials, and innovative entrepreneurs participated in the event, with opportunities for one-on-one in-depth discussions with investors after the roadshow.

Call for Outstanding Pitch Projects in the Medical Device Sector: “2019 Shaoxing International Medical Device Summit Forum” — Submissions Now Open!

Project Submission Period: April 30, 2019 – May 21, 2019

Participation Method: The call for medical device roadshow projects is now open. Please click the link below to access the registration portal.

Registration Channel for Roadshow Projects at the 2019 Shaoxing International Medical Device Summit

http://a0a410hxkq7ksr1w.mikecrm.com/c27JTIJ

Roadshow Slots Are Limited – Submission Deadline: May 21