In China, number of stent implantation already reached as high as 840.000 cases per year in 2012, but Chinese medical device producers just could not produce any stent product due to the limitation of material and technics.
A team of scientists had actually kicked off the R&D of stent ever since 1999, only until early 2015 had the team developed prototype product. The product had got CFDA clearance by the nd of 2015 and it is available in the market since January 2016. This is the first stent ‘Made in China’, after more than 15 years of development.
Almost at the same time, CFDA approved a implants made from degradable metal, which was developed by the same team.
HUAWEI is now absolutely a globally recognized brand name, and definitely a rising star in its cluster. Perhaps within 3-5 years, there will be a new ‘LENOVO’ or a new ‘HUAWEI’ in medical device industry as well.
Currently there are around 150.000 medical device manufacturers in China, but 90% of them can only achieve a yearly turnover between RMB 10-20 million. Most of them are producing medical disposables or small devices like thermometer, blood glucose meter, blood pressure monitor, or ECG monitor, many are on OEM basis.
In Chinese hospitals, for equipment like MRI, CT or endoscopy, some 90% are imported products. But the situation starts to change now, slowly. Since2013, we see Chinese manufacturers are releasing new products including ultra-sound scanner, MRI, CT and even PET-CT, as well as bio-chemical analyzer and etc, all under manufacturers’ own R&D with self-owned intellectual property rights.
So far these Made in China products can’t compete effectively in international market with those global leaders, but a long march to the global med tech market with Chinese domestic market as a starting point is logical and realistic. As long as the Chinese medical device manufacturers accumulate knowledge and experience in product and market development, strengthen the capability in research and innovation and with practical strategy and patience, they will obtain a decent market share not only in Chinese domestic market, but also in international medica device market.
In the first 3 quarters of 2015, the Chinese m-Health cluster secured ca. $1.1 billion investment, though almost no new products or services were launched other than peripheral products like smart phone APPs, online patient-doctor appointment system, online consulting platform. Wearable device was one of the most discussed topics in 2015.
In 2016, new capitals are still rush entering the Chinese m-Health market, which will turn into one of the driving factors of market boosting. It is estimated that about 85% of m-Health products will be smart phone related, some market players tend to develop online-offline business models, but profitability is a challenge to everyone.
When m-Health first merged in Chinese market, it was regarded as a high-end service for some minorities, but the situation changed drastically as long as more and more patients starts to own a hardware like arm band, glucose meter with blue tooth, or blood pressure monitor with WiFi, or an APP on either iPhone or an Android phone or tablet.
M-Health is so far not efficiently supported by medical insurance system, which could be one of the bottle necks in the Chinese market. Once there are products or services supported by medical insurance, m-Health industry could be a new gold mine in China.
In April 2008, China Food and Drug Administration introduced the “Electronical Drug Supervision Code” system. The ‘Code’ is like the ID of a drug, which tracks the drug in its entire life circle.
The system is operated by third party service provider Ali Health, a daughter company of Alibaba Group.
On 20 Febuary 2016, just a couple of days after the Chinese Lunar New Year, CFDA announced suspension to the system, which has been running for some 8 years already. Ali Health also declared that the operation rights as well as the entire platform have been duly submitted to CFDA.
Reasons of the suspension was not disclosed by CFDA, and suspension may not mean retirement of system. CFDA may probably release new anouncement or publish new regulations soon, yet to be observed.
As one of the results of the self-consciousness of pursuing healthier life among Chinese people, more and more people start to pay attention to their dental health. This leads to a boom in the dental market.
There are now 60.000 dental clinics in China, among which more and more are commercialized. Thanks to the extraordinary huge patient pool, the market is believed to expand rapidly in the coming years, thus a lot of investors follow closely after the lucrative market opportunities.
The market size of dental devices in 2015 is ca. 135 billion RMB, as statistics shown. It is reportedly to reach 400 billion RMB by 2020. Some IT companies are also involved into the industry, by offering services like tele-medicine, online payment system, online insurance reimbursement system, patient file, data mining and etc.