The Ministry of Industry and Information Technology (MIIT) released the “2021-2025 Medical Equipment Industry Development Plan” (draft proposal), soliciting public feedback until March 11. During the 13th Five-Year Plan period (2016-2020), the medial equipment market grew at a 13.6% compound annual growth rate and reached RMB 80 billion (USD 12.3 billion) in market value in 2019. International sales accounted for over 10% of domestic production.
MIIT's document sets out goals to be achieved by 2025, including: major breakthroughs in key components and materials, safe and reliable high-end medical equipment, world-class product performance and quality, a basically complete medical equipment industry system, and 6-8 companies ranked among the top 50 global medical equipment firms.
The plan highlights diagnostic testing, treatment, monitoring and life support, traditional Chinese medicine diagnosis and treatment, maternal and child health, health care and rehabilitation, and implant intervention sectors. Cross-border integration and innovation will be reinforced, where medical equipment and electronic information, communication network, Internet and more will be supported for cooperation, and conventional medical equipment will be integrated with 5G, artificial intelligence, industrial internet, cloud computing, 3D printing, and other new technologies for upgrade.
The aerospace, nuclear, new materials, and other industries will cooperate with the medical equipment industry, where materials, components, complete machines, and other upstream and downstream industrial chains will see coordinated development. In addition, government procurement management will be ramped up with a fair, open, and fully competitive medical equipment procurement mechanism to be established, and a government industrial financing model to be explored.
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