The recent tightening of drug policy and the intensification of anti-corruption in the industry have led the industry to seek more opportunities in health sub fields such as medical devices. At the 2013 China Medical Device Summit Forum, many experts attending the meeting said that they would look at the medical device industry for a long time, saying that investment opportunities in the industry were constantly emerging.
At the above meeting, Ma Dewei, managing partner of Deloitte, said that in recent years, the government has paid more attention to medical device companies, which will promote the rapid development of medical device companies. He predicted that by 2015, the size of China's medical device market will reach 35 billion US dollars, three times that of 2008.
Ye Lin, director of China pharmaceutical industry research, investment research department of Citibank, also believes that China's public hospital reform is triggering profound changes in hospital medication structure, and will highlight the value of medical services. In this process, medical devices will usher in greater market opportunities.
"With the exception of monitors, the market share of the rest of the medical device sub field is basically occupied by foreign enterprises such as GE, Philips and Siemens." This means that there is still a lot of room for improvement and development of domestic medical devices, ye said.
The secondary market's pursuit of medical device companies also confirms the optimism of the market. According to the CIC Securities report, among the medical device companies listed on the Shanghai and Shenzhen stock markets, Hong Kong stocks and US stocks in 2012, there were four companies with a market value of more than 10 billion yuan, including Mindray medical, Weigao (01066. HK), Lepu medical (300003. SZ) and Yuyue medical (002223. SZ).
Wang Wei, an analyst in the pharmaceutical industry of CIC securities, said that domestic medical device companies are achieving rapid growth through product and market innovation. "A good corporate platform, management trust, adequate incentives and integration of global resources will be key to success." He said.
However, the innovation vitality of domestic medical device enterprises is still insufficient. Wang Guowei, senior managing director of Aobo capital, believes that under the existing medical system, Chinese doctors have a lot of innovation consciousness on clinical medical devices, but they have not enough time to complete the innovation.
Zhu Qingsheng, partner of Tonghe capital management, also said that at present, the enthusiasm for innovation in the pharmaceutical industry is high, but the innovation environment for medical devices has not yet formed. For example, there are few professional outsourcing service companies for medical device research and development.
Wang Wei believes that the innovation of medical devices is not only reflected in technology, but also as an integration of resources. He said that the promising directions for the medical device industry in the future include chronic disease related fields, medium and high-end import substitution and telemedicine.
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