2023International Conference on Medical Device Supply Chain
2023year6month15 - 17On2023(The Third) International Conference on Medical Device Supply Chain was successfully held in Weihai.
The conference, themed 'Breaking Through Barriers for Sustainable Growth', focuses on the pain points and difficulties in the development of global medical device supply chains, discusses the future development of the medical device industry, aims to break through bottlenecks and eliminate barriers, and promotes high-quality development of the medical device supply chain during the 14th Five-Year Plan period.
Frost & SullivanFrost & SullivanGuo Jing, Senior Consulting Director for Healthcare in Greater China at Frost & Sullivan (hereinafter referred to as 'Frost & Sullivan'), was invited to attend the conference. as for The Background and Trends of Chinese Medical Devices Going Global Give a speech .
Senior Healthcare Industry Consultant, Frost & Sullivan Greater China Guo Jing
According to a study by Frost & Sullivan, 2022The global overall medical device market size is larger than that of China.4times, China The overseas market for medical devices has a very broad potential. Compared with the leading global players in medical devices, Chinese medical device companies have a smaller proportion of overseas sales. Global leading medical device companies have a much larger proportion of overseas sales than domestic players, abroadTop 5Medical device enterprise2022Annual income exceeds50%From overseas, and ChinaTop 5In addition to Jiuan Medical Devices, the products of other medical device companies are mainly sold domestically.
Guo Jing stated that the Chinese medical device industry is squeezed by three major pressures: in-hospital cost control policies, normalized centralized procurement, and homogeneous competition. Coupled with the relatively small proportion of overseas sales by Chinese medical device companies, it has become an inevitable trend for local enterprises to explore strategies for going global in order to seek profit growth points.
2022In 2019, China's exported medical device products mainly consisted of low-value consumables and mid- to low-end medical equipment. Guo Jing pointed out that driven by market demand and favorable policies, the export-oriented 'Belt and Road' region will become an effective way for domestic brands to initiate international development.
Driven by several favorable policies in China, the R&D capabilities of medical device enterprises have continued to improve, and their overseas competitiveness has further strengthened. However, enterprises still face three major tests when going global: policy environment, sales model, and technical recognition. Guo Jing believes that, under the trend of domestic brands going global, five key areas—technological innovation, adaptability and compliance, localized marketing, stable supply chains, and comprehensive support—will become the main focus for local enterprises in pursuing both 'brand value' and 'profit growth'.
About Frost & Sullivan's Healthcare Practice
The Healthcare Practice of Frost & Sullivan has professional analytical capabilities and extensive project experience in the life sciences field. Leveraging Frost & Sullivan's global think tank resources and cross-industry business development platform in Greater China, Frost & Sullivan Healthcare has unique core advantages in healthcare industry investment and financing services. Frost & Sullivan Healthcare has a wide range of corporate clients in China and in the past20In the year, a vast customer network was established, and a wealth of project experience in various medical sub-fields was accumulated.
Project types include Knowledge Center projects (in-depth content and promotional activities).Pre-IPO financingprojectDCF modelValuation, Business Plan Services),IPO listingWe provide listed projects (industry consulting, clinical audits, fundraising and investment writing), market research, market value management, and strategic consulting. We also cooperate with well-known domestic and international information platforms and investment and financing institutions, offering one-stop solutions for enterprises in specialized fields such as pharmaceuticals and medical devices, which has attracted widespread attention from investors.
