company news about 2024 Report Reveals China Med Device Industry Growth: 1.31 Trillion Yuan Revenue, 10% CAGR, Global #2; YRD Strength Detailed

According to the 2024 Report on China's Medical Device Industry Development, the number of Chinese medical device enterprises has shown an upward trend on both the production and distribution sides. By the first half of 2024, the number of Class II and Class III medical device distributors nationwide exceeded 1.42 million, while Shanghai had 35,153 such distributors.

The industry's vigorous development is also reflected in the steady growth of product registrations/filings. Over the past five years, the CAGR for the number of initial registrations of domestic Class II and Class III medical devices in China reached 17.9% and 14.3% respectively. Medium-to-high-end products, in particular, are increasingly attracting capital investment. Shanghai's key focus areas include passive implantable devices, active surgical instruments, and medical imaging equipment.

The Yangtze River Delta (YRD) region is one of the most dynamic areas for medical device industry development in China, characterized by high concentration, a high degree of internationalization, and strong innovation capabilities, with advantages in industry-academia-research integration. The Research Report on Medical Device Industry Development in the Yangtze River Delta, jointly released by the NMPA's Southern Medical Economic Research Institute, the NMPA Medical Device Technical Evaluation and Inspection Sub-Center for the Yangtze River Delta, the Shanghai Municipal Medical Products Administration, and the Jiading District, shows that as of the end of September 2024:

• A responsible official from the NMPA Medical Device Technical Evaluation and Inspection Sub-Center for the Yangtze River Delta stated that the center will continue to enhance communication and exchange with regional drug regulatory authorities, academic societies, research institutes, and medical institutions. The aim is to pool resources in supporting and serving regional industrial innovation and development, and to explore the establishment of a collaborative mechanism to promote innovation within the YRD's medical device industry.