IFFM 2023
With the support of national policies, China's innovative medical device market is developing rapidly. For life science companies, it usually requires a significant investment in research and development costs upfront. From the start of R&D to final market launch, there are common challenges such as long product registration approval cycles and high initial investment costs. With the improvement of local medical device companies' innovation capabilities, intellectual property disputes and infringement lawsuits have become frequent in the field of medical devices both domestically and internationally in recent years, making the layout and protection of intellectual property increasingly important.
Against this backdrop,11month15day-17On the day of the 3rd China Intellectual Property Frontiers Medical Devices ForumIFFM 2023) was successfully held at Shenzhen Marriott Grand Hyatt Shenzhen Wanyue. This event was organized byYIP EventsIntellectual Property Frontline New Media, CompliancePlusCo-hosted and received strong support from the Guangdong Medical Device Industry Association and the Shenzhen Patent Association.
The two-day conference and half-day pre-conference workshop were held under the theme of 'Intellectual Property Risk Prevention and Control to Boost Innovative Development of Medical Devices', attracting35+Domestic and international medical device enterprises, “Internet+Medical & rdquo; Enterprises, research hospitals, court departments, industry patent lawyers/Presentation and sharing by proxy experts,150+Domestic and international medical device, smart healthcare enterprises, and30+Leading domestic and international law firms and agencies are actively participating. The attending guests mainly exchanged views on hot topics of public concern, including data compliance in the medical device industry, enterprise intellectual property risk prevention and management strategies, enterprise business secret and compliance system construction, analysis of investment trends in the medical device industry, hot issues and countermeasures in patent infringement litigation in the medical device field, etc.
Frost & SullivanFrost & SullivanMao Hua, Partner and Managing Director of Frost & Sullivan's Greater China Region, was invited to attend the forum and delivered a speech on 'Exploring the Development Path of Innovative Medical Devices in China'. The speech covered the latest development trends and industry opportunities in China's medical device industry.
Partner and Managing Director of Frost & Sullivan Greater China Region fattening
Mao Hua pointed out that although China's medical device market has a large total volume, per capita consumption is still relatively low. Moreover, compared to the global market, the market share of high-value specialized medical devices in China needs to be increased. In recent years, the state has continuously introduced favorable policies to promote the development of innovative medical devices. At the same time, the normalization of centralized procurement of medical consumables is also forcing medical device companies to achieve breakthroughs through technological innovation.
The medical device sector has received continuous capital attention, as shown in the data:2019Year-end2021In China, the number of medical device investment and financing transactions continued to grow, although2022The number has decreased annually, but the overall trend remains positive. A large number of investment and financing transactions are focused on the early stages.2019Year-end2023year10month31On the day, medical device investment and financing were concentrated inAPrior to this, the number of investment and financing transactions reached1,158rise. "Overall, in the primary market, investments are made early-stage startups, platforms, incubators, and niche sectors. In the secondary market, companies choose listing more diversely, placing greater emphasis on commercialization capabilities and their own self-sustaining abilities," said Mao Hua.
In addition, the accelerated return of overseas talents has provided rich talent resources for the development of innovative medical devices. The diversified cooperation model has injected vitality into China's medical device innovation. It is worth mentioning that driven by the pandemic, domestic device companies have made new breakthroughs in going global, with significant growth in China's medical device exports. In particular, the performance of in vitro diagnostic products has been particularly outstanding, and domestic high-end medical devices have gradually gained international recognition.
Looking at the development of China's innovative medical device sector, in recent years, the leading tracks for medical device investment and financing have been relatively stable, with some tracks experiencing significant growth. As of2023year10month31On the same day, robotics, cardiovascular intervention, and medical imaging ranked among the top in terms of number of investment and financing transactionsTop 3, the most favored medical device sector by capital. According to Mao Hua, the robot era is subverting various traditional surgeries and presenting development trends such as informatization, intelligence, and minimally invasive techniques; the field of cardiovascular intervention is innovating in multiple dimensions including procedures, materials, and technology; in the medical imaging field, big data, intelligenceAIThe application trend of intraoperative image fusion technology is significant.
Finally, Mao Hua stated that medical devices belong to the high-end manufacturing industry and require innovative development alongside manufacturing collaboration. Manufacturing is one of China's strongest areas, with competitive advantages already established. After innovation catches up, China's medical device industry has moved from imitation to independent innovation, and in the future, it will further expand globally.
More wonderful moments from forums
About Frost & Sullivan's Life Sciences Practice
The Life Sciences Practice of Frost & Sullivan has professional analytical capabilities and extensive project experience in the field of life sciences. Leveraging Frost & Sullivan's global think tank resources and cross-industry business development platform in Greater China, the Life Sciences Practice has unique core advantages in investment and financing services for the life sciences industry. The Life Sciences Practice has a wide range of corporate clients in China and in the past20In the year, a vast customer network was established, accumulating a wealth of project experience in various subfields of life sciences.
Project types include Knowledge Center projects (in-depth content, 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, among others. We also cooperate with well-known domestic and international information platforms and investment and financing institutions, offering one-stop solutions for enterprises in specialized sub-fields such as pharmaceuticals and medical devices. Our services have received widespread attention from investors.
