China's Medical Device Industry is Ushering in a Rare Policy-intensive Promotional Period; Policy Boosts Medical Device Localization Process
February 05, 2017
In China, we say Health is the foundation of revolution, which is where the Upgrade of China's Healthy Strategy originates. 2016 is the first year of the 13th Five-Year Plan for Economic and Social Development of the People's Republic of China (the 13th Five-Year Plan), and the state council of the People's Republic of China published the "13th Five-Year" national strategic emerging industry development plan, identifying medical devices as one of the main breakthrough areas, including developing of high-performance medical equipment and core components, the development of high-quality medical imaging equipment, advanced radiation therapy equipment, high-throughput low-cost gene sequencers, genome editing equipment, and rehabilitation medical equipment.
In December 2016, in order to encourage medical device study and innovation and promote the practice of new medical device technology, CFDA published "Guidelines for the Preparation of Special Reports on the Application of Innovative Medical Devices". China has been working on a medical device localization process, especially in the high-performance medical device area, which will boost the development of the Chinese medical device industry.
The Medical device industry represents a massive market in China based on the needs generated by the government's policy orientation and the replacement of medical devices at domestic health care organizations. Case-in-point: in developed overseas markets medical devices and equipment account for 42% of the overall market size of pharmaceuticals and devices/equipment combined whereas in the local Chinese market the share of medical devices and equipment is just 14%; there is thus huge potential to raise the share of locally-made devices. China's medical device sales volume increased from 120 billion yuan to 308 billion yuan between 2010 and 2015, while an average annual growth rate of more than 20% is expected. This will see China's medical device sales volume reach about 600 billion yuan in 2019.
Open industry platform Medtec international medical device and manufacturing technology exhibition drives the industry's innovation development
Medtec China 2016 took place at the Shanghai World Expo Exhibition & Convention Center from October 26-28th. As one stop in the Medtech world's series of events, Medtec China is an event dedicated to medical device design and manufacturing technology. The three-day event succeeded in gathering 302 exhibitors from 23 countries and regions of the world, of which there were 51 companies participating for the first time in the show. Furthermore, the ratio of international exhibitors exceeded 60%. The event successfully connected 12,134 buyers from 4,012 companies to exhibiting companies. This included group visitors representing over 50 companies. The majority of attendees were R&D and engineering personnel from medical device manufacturers, executive management and company owners, quality control, regulation and oversight, and purchasing and procurement professionals. Medtec China, is dedicated to serving as a high quality community for medical device R&D and production technology, and providing innumerable ideas and possibilities for the development of China's local medical device manufacturers as well as support for multinational medical device manufacturers to set up production and R&D bases in China. The enthusiasm and high satisfaction of all of the exhibitors and visitors proved the value of Medtec China in this specific industry.
Medtec China 2017 helps you to seize business opportunities and to get ahead of the market
On 20-22nd September 2017, the 13th Medtec China will return to the Shanghai World Expo Exhibition & Convention Center again, gathering more than 300 exhibitors from more than 20 countries and regions of the world, as well as attracting an estimated 10,000 visitors from around 4,000 medical device companies. Medtec China provides you the best business opportunities over the course of the three-day show, no matter whether you aim to search for potential customers, seek out R&D technology solutions for your production, communicate with your peers about the challenges and opportunities in the medical device industry, share insights from the industry experts regarding the latest trends, or get direct feedback for your products and services from the market.