“China Innovation” is in a critical period of historical opportunity.
Focusing on the medical device industry, my country has been limited to meeting basic medical needs for a long time. By around 2000, it began to realize domestic substitution in some fields. Around 2010, an innovation boom began to emerge in the field of high technical barriers.
How far has China’s device innovation come? Where is the gap with leading countries? In which fields may the future blockbuster products be born? How to rely on the clinical needs and industry environment with Chinese characteristics to achieve rapid development? In order to answer these questions, a deep and thorough analysis of the yesterday, today and tomorrow of China’s medical device innovation is required.
To this end, BCG has established a special research group on China’s medical device innovation, and has gained a lot of first-hand insights based on our project experience, interviews and original research in the past ten years.
We will extract the main ideas and data on this topic and present them to the reader in a series. This article is the beginning of the series, analyzing the macro context of China’s medical device innovation from a macro perspective, and peeking at different levels of device innovation, the driving force behind it and the logic of development. Next, we will analyze a series of hot therapeutic areas and explore how to cultivate fertile ground for medical device innovation. It is hoped that through this series of reports, readers can gain in-depth enlightenment on China’s medical device innovation.
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