Singapore Biodesign has partnered with EnterpriseSG (ESG) to deliver an exciting Open Access Lecture (OAL) on the latest trends and opportunities in China’s Medtech Industry.
As the population ages and birth rates decrease, many countries, including China, are facing acute health challenges. The Chinese healthcare market is forecast to grow to RMB16 trillion (~SGD3.29 trillion) in 2030 as the country continues developing and improving its healthcare ecosystem (McKinsey, 2018). Notably, China’s thriving medtech industry offers a myriad of opportunities. China has made rapid regulatory reforms since 2015 in order to accelerate the growth of this emerging strategic industry. Such moves have spurred faster development of, and approvals for medical products. From 2015 to 2019, Chinese foreign trade in medical devices grew by nearly 10% each year, outpacing worldwide growth (Deloitte, 2021).
Today, China accounts for around 20% of the global medical device market, and its market share is expected to bolster (Deloitte, 2021). We have invited industry experts with the relevant market knowledge to share their insights:
- Ms. Charis Goh, Principal, Head of Equity, Heritas Capital
- Dr. Lee Phin Peng, Deputy Programme Director, Singapore Biodesign
- Ms. Ng Xu Wen, Senior Associate, Innoventures
- Mr. Peh Ruey Feng, Head of International R&D and Innovation, Genesis Medtech