As "going overseas" has become the key word for the development of Chinese enterprises in 2023, the medical device industry is also actively participating in this wave. Data shows that in 2023, there will be more than 600,000 foreign trade operators with import and export records in China for the first time, and medical device companies have also set their sights on overseas markets.
In 2024, this trend will be even more pronounced. Medical devices are no longer limited to the domestic market, but are gradually going global and competing with international brands. In this process, compliance, innovation and global layout have become the three key words for medical devices to "go global".
Compliance: the premise and guarantee of going to sea
With the acceleration of enterprises going global, compliance has become an important topic of concern in the industry. In this year's work report of the two sessions, it was repeatedly mentioned that "promoting the healthy development of new business formats such as cross-border e-commerce" also provided clear policy guidance for medical devices to go overseas. A number of first-class tables and committee members have suggested that medical device companies should strengthen the study of international regulations and standards in the process of going overseas to ensure that their products meet the access requirements of the target market and avoid the risk of market exit caused by non-compliance.
Innovation: the key to competitiveness
In the global competition, innovation is the key to enhance the competitiveness of medical device companies. At this year's two sessions, a number of representatives and members proposed to encourage medical device companies to increase investment in research and development, promote product innovation, cultivate independent brands, and enhance their voice in the international market. At the same time, strengthen cooperation and exchanges with international innovation resources, introduce advanced technology and management experience, and provide a steady stream of power for enterprise innovation.
Global presence: the strategy of expanding the market
In the process of going overseas, medical device companies not only need to pay attention to the performance of a single market, but also need to have an overall strategic layout. At this year's two sessions, the representatives suggested that medical device companies should conduct in-depth research on the global market demand, formulate personalized marketing strategies according to the market characteristics of different regions, and realize the diversified expansion of the market. At the same time, strengthen the linkage with domestic and foreign partners to jointly build a global chain system to ensure the stability of products.
Summary
In 2024, China's medical device industry is ushering in a new chapter of "going global". Under the guidance of the three key words of compliance, innovation and global layout, medical device companies are actively participating in the competition in the international market. It is believed that with the joint efforts of enterprises, enterprises and all walks of life, the road of China's medical devices to "go to sea" will be broader and broader, and more Chinese wisdom and Chinese solutions will be contributed to the global health cause.