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Chinese Medical Device Startups Face Tough Market

By Di Ning, Jiang Yuting, Tang Ziyi and Flynn Murphy / May 30, 2019 02:23 PM / Business & Tech

Domestic startups angling for a piece of China’s booming medical device market are struggling to break through in a field dominated by foreign brands.

Entrepreneurs say there’s limited enthusiasm for long-term investment in research in an industry where genuine breakthroughs are hard-won.

Meanwhile cheaper “copycats” of foreign technology are more attractive to investors, but questions linger about their popularity among Chinese consumers who may be unwilling to stake their life on a local brand.

The Chinese government’s “Made in China 2025” plan, which promotes self-reliance to break the nation’s dependence on imported technology, aims to see half of all mid-to-high-end medical devices used in China made there by 2020, increasing to 70% by 2025.

A slew of Chinese healthcare companies — including Shenzhen Mindray Bio-Medical Electronics, Shanghai United Imaging Healthcare and Shinva Medical Instrument — have recently launched high-end devices including specialized diagnostic equipment. Startups such as Shanghai AccuMed Technology and Gimer Medical have also jumped on the bandwagon.

Check later today for the full story.

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