Despite the significant uncertainty brought about by the current tariff issues, the industry still hopes to see more merger and acquisition transactions in fields such as orthopedics and interventional cardiology; major merger targets are expected to gradually shift towards publicly listed companies. Recently, the ranking of the top 100 global medical device companies was released. Based on the 2024 annual revenue, Medtronic ranked first with a revenue of $33 billion; Johnson & Johnson ranked second with a revenue of $30.4 billion; Abbott and Danaher followed closely with revenues of $27.9 billion and $24 billion, respectively. Other medical device companies in the top ten include Stryker, Siemens Healthineers, BD Medical, GE Healthcare, and Philips, all with revenues around $20 billion. In recent years, mergers and acquisitions in the medical device sector have driven the trend of "the strong getting stronger" among giant companies, benefiting from the ample cash flow of large enterprises. By acquiring and integrating a significant number of innovative technologies, medical device giants have further solidified their positions in certain specific fields. In 2024, Johnson & Johnson announced two major acquisitions, purchasing cardiovascular medical device company Shockwave for $13.1 billion and atrial shunt manufacturer V-Wave for $1.7 billion. Medtronic acquired Fortimedix Surgical, an innovative medical device company in the endoscopy field. BD Medical acquired the entire line of critical care products from Edwards Lifesciences for $4.2 billion in cash. Since 2025, the enthusiasm for mergers and acquisitions among major medical device companies has not waned. In January of this year, orthopedic giant Stryker announced its acquisition of venous thromboembolism (VTE) medical device company Inari Medical for a total cash consideration of $4.9 billion; Siemens Healthineers completed the acquisition of industrial simulation and analytics software provider Altair for $10 billion; Medtronic acquired part of the intellectual property used for the development of the next-generation PEEK intervertebral fusion devices from Nanovis, a nano-surface technology supplier; Medtronic also increased its investment in Contego Medical, a provider of blood revascularization therapy solutions. Despite the current tariff issues bringing significant uncertainty to the industry, there is still anticipation for more mergers and acquisitions. As the U.S. IPO market warms up, the motivation for private companies to be acquired may decrease, and the share prices of listed companies are far from reaching their peak. It is expected that major M&A targets will gradually shift towards listed companies in the future. Regarding the popular acquisition targets in the medical device industry, analysts believe that as more large medical device companies bet on the peripheral vascular market, leading companies in this field are worth paying attention to; surgical robots remain a hot sector that requires significant investment in research and development, and private companies urgently need the resources of large companies to survive; in addition, fields such as orthopedics and interventional cardiology will continue to be "strategic tracks." Johnson & Johnson expects to continue expanding its interventional cardiology product portfolio. Tim Schmid, the global chairman of Johnson & Johnson MedTech, stated last year that the company would triple its market size through acquisitions. Johnson & Johnson CEO Joaquin Duato has invested over $30 billion in mergers and acquisitions for the company's medical technology business within less than two years of taking office. In addition to the acquisition of Shockwave, Johnson & Johnson has also acquired artificial heart manufacturer Abiomed and heart implant developer Laminar in the past two years. Du Anqing previously stated that the company will continue to maintain its momentum in mergers and acquisitions, including small acquisitions and large deals, in order to achieve long-term growth. This is related to Johnson & Johnson's strong cash flow and balance sheet. Although the company mentioned in its recent quarterly financial report that its medical technology business might face a profit loss of $400 million in the fiscal year 2026 due to tariffs, industry insiders believe that Johnson & Johnson still has considerable flexibility to consider various types of transactions. "A company's abundant cash flow is the foundation for carrying out M&A transactions," Shen Yi, Danaher's Global Vice President and Head of Strategic Investment and M&A for the Asia-Pacific region, told the First Financial Daily. He also mentioned that Danaher's cash flow has exceeded the company's profits almost every quarter over the past decade. "In over 400 M&A transactions in its past history, Danaher has made all acquisitions except for one mega deal valued at $200 billion in cash, with 85% of its cash being used for acquisitions," said Shen Yi. Medtronic CEO Geoff Martha has indicated that the company will adopt a "top-down" precision strategy, focusing on small-scale acquisitions. Martha did not disclose specific targets, but he emphasized the importance of small acquisitions and portfolio management. Boston Scientific Corporation has also been quite active in mergers and acquisitions over the past year, benefiting from its relatively strong profit margins in recent years. Analysts predict that the company's PFA pulsed field ablation product, Farapulse, will drive continued profit growth in 2025. In 2024, Farapulse's annual revenue exceeded $1 billion.

Recently, Abbott released its Q1 2025 earnings report, with total revenue of $10.36 billion, a year-on-year increase of 4.0%. However, behind this seemingly steady report lie hidden concerns. The company's CEO, Robert Ford, warned investors during the earnings call that the U.S. government's additional tariffs on China would result in a loss of "hundreds of millions of dollars" for the company throughout the year, with the medical device business being the hardest hit. This statement confirms Barclays Bank's previous analysis - although Abbott is relatively less affected among top medical device companies, the field of medical devices still faces dual pressures of supply chain restructuring and rising costs.   01 leads the way, translates to "leads the way" or "takes the lead" in this context. Diagnostic services lag behind Abbott delivered a report card of "steady growth + improved profitability" in the first quarter of 2025. Total revenue: $10.36 billion, an increase of 4.0% year-over-year; excluding the COVID-19 testing business, organic growth was as high as 8.3%. Core Business Performance: Medical Devices: Revenue of $4.895 billion (accounting for 47% of total revenue), a year-over-year increase of 9.9%, with organic growth of 12.6%. Notable contributions from sub-segments such as Diabetes Management (+21.6%) and Structural Heart Disease. Nutrition business: Revenue of $2.146 billion, global organic growth driven by adult nutrition products Ensure® and Glucerna® by 8.7%. Diagnostic business: Revenue was $2.054 billion, a year-over-year decrease of 7.2%. Excluding COVID-19 testing revenue (which amounted to only $84 million), the core laboratory business barely achieved a 0.5% growth. Significant regional differentiation: The U.S. market grew by 8.4%, far exceeding the 1.2% growth of international markets. Particularly in the medical device sector, the growth rate in the U.S. (such as +27.1% for diabetes care business) was significantly higher than the global average. Profitability Optimization: Gross margin increased to 52.8%, and adjusted net profit grew by 10.9% year-over-year to reach $1.919 billion. This performance was driven by effective cost management and strong sales of high-margin products, such as the FreeStyle Libre® continuous glucose monitoring system.   02 Tariff Impact: Medical devices become a "disaster zone." Although Abbott's financial report performance is impressive, the "approaching tariff threat" it faces cannot be ignored, and Ford clearly outlined the specific impact pathway of this challenge. In the Sino-US tariff game, latest developments show that the Trump administration is planning to impose a 245% tariff on China, with medical devices not being exempted. Given that Abbott's revenues are about 45% reliant on the medical device sector, this means that its supply chain and export costs in the Chinese market will face significant pressure. At the same time, import restrictions implemented by Canada and Mexico, along with tariffs on steel and aluminum policies internationally that have created regional retaliatory tariffs, have further driven up the cost of raw materials. Due to the long production cycle of medical equipment and the fact that contract prices are often locked in, companies cannot resolve impacts in the short term by raising prices or transferring costs. From a potential risk perspective, if the tariff costs are entirely borne by the company, Abbott's medical device business, which currently has a gross margin of about 60%, may face the risk of decline; emerging markets such as Asia and Latin America, which rely on low-price strategies to open up markets, may also lose competitiveness due to rising costs.   03 5 Invest $500 million to build a factory in the U.S., what's the goal? To withstand the impact of the tariff storm, Abbott has unveiled two core strategies. Firstly, the construction of a distributed production network is carried out with 90 production bases to create an "anti-risk moat". CEO Ford uses FreeStyle Libre® as an example to explain the layout logic, stating that 2 factories in the United States serve domestic demand, and 4 other bases cover the global market. If all production capacity were concentrated in Southeast Asia or Europe, the risk would be uncontrollable. The strategy reduces reliance on a single supply chain through localized production, such as specializing in glucose monitoring sensors at the Irish factory and focusing on regional demand at the Chinese facility. Simultaneously, it implements redundancy by backing up critical components across multiple regions to ensure stable supply amid sudden tariffs or geopolitical conflicts. Secondly, to promote the expansion of production in the United States, Abbott announced two key investments, investing $500 million in the expansion of factories in Illinois and Texas, adding 300 new jobs, focusing on enhancing the research and development and production capacity of blood transfusion equipment. The main goal is to reduce dependence on imports through local production and strive for policy preferences brought by the "Made in USA" label. In the short term, this plan can reduce reliance on imported components and directly avoid cost pressures brought by Sino - US tariffs; in the long term, it focuses on the research and development and production of high - value - added products such as cardiovascular devices, consolidating its technological barriers and industry leadership in the high - end medical device field. However, the production cost in the United States is significantly higher than that in Asian regions, which may weaken the price competitiveness of products. Moreover, the construction cycle of the factory is relatively long, and it will not be put into operation until the end of 2025. In the short term, tariff pressure still needs to be borne. In terms of short-term buffer measures, Abbott opted to increase inventory of key raw materials, but Ford also warned that "hoarding is not a sustainable solution," while jointly lobbying with industry group AdvaMed to seek tariff exemptions for medical devices, despite slim chances of success.   04 No one was spared. Leading companies collectively under pressure Amid the ongoing impact of the tariff storm, leading companies in the global medical equipment sector are all affected, collectively bearing immense pressure. Johnson & Johnson (JNJ.US) warned in its financial report that by 2026, its tariff losses will reach $400 million, with the medical device division being hit the hardest. The main issues Johnson & Johnson faces are twofold: first, it is difficult to adjust the supply chain, as medical equipment transportation contracts have already locked in prices, making it hard to flexibly adjust costs in response to tariff changes in the short term; second, geopolitical risks are compounded, with Sino-American tariff conflicts being the primary source of losses, while retaliatory tariffs from Mexico and Canada add further pressure. In terms of strategy, Johnson & Johnson and Abbott show clear differences: Johnson & Johnson relies more on “acquisition + restructuring” to optimize its business (for example, by acquiring Abiomed to strengthen its cardiovascular sector), but it has relatively fewer proactive measures in response to tariff impacts; Abbott, on the other hand, places greater emphasis on enhancing the flexibility of its production network, reducing risks by diversifying its capacity layout. From an industry-wide perspective, this phenomenon conveys two important signals: for companies that struggle to pass on tariff costs to downstream entities, long-term profit margins may continue to erode; meanwhile, possessing a globalized supply chain layout and flexible adjustment capabilities is increasingly becoming a critical survival skill for leading enterprises to navigate geopolitical risks. In response to tariff shocks, Abbott has built a distributed network with 90 production bases, such as the decentralized production of FreeStyle Libre across 6 locations to reduce risks. At the same time, it has invested $500 million to expand its domestic U.S. factories, attempting to hedge tariffs through local production. However, high domestic costs and long construction cycles still put pressure on it in the short term. Within the industry, Chinese companies like Mindray are capturing market share with their local supply chains, accelerating the restructuring of the global medical device supply chain. As Ford said, tariffs are driving the medical industry towards Globalization 2.0, and companies need to find a new balance between technological barriers and cost control.

In April 2025, two of the world's leading medical device giants, Johnson & Johnson and Abbott, announced their financial reports for the first quarter. Although both companies revealed the impact of tariffs on their finances in the reports, they still maintained growth and demonstrated different coping strategies. The performance of these companies not only reflects the complexity of the global medical device industry but also shows the adaptability of multinational companies in the face of external pressures such as the China-U.S. trade war.   01 Johnson & Johnson: Steady Growth Tariff pressure resulted in a loss of 400 million dollars. Johnson & Johnson's Q1 2025 earnings report shows the company's total revenue reached $21.9 billion, a year-over-year increase of 2.4%. The performance of the medical technology division was particularly impressive, with revenue reaching $8.02 billion, a year-over-year increase of 2.5%. Among this, the cardiovascular business stood out, with sales reaching $2.1 billion, a year-over-year increase of 16.5%. However, despite the strong performance, Johnson & Johnson still faces significant tariff challenges and is expected to suffer a financial loss of $400 million in 2025 as a result.   Joseph Wolk, Chief Financial Officer of Johnson & Johnson, stated that this loss was mainly due to the high tariffs imposed by the U.S. on Chinese medical device exports and China's retaliatory tariffs on American products. Johnson & Johnson is mitigating this impact through price adjustments and cost pass-throughs, but the adjustment space is limited due to existing medical device contracts. Nevertheless, Johnson & Johnson has maintained its financial outlook for 2025 and plans to reduce future tariff impacts by restructuring its operations and optimizing production bases.   02 Abbott: Global Layout and Short-term Response Strategies Similar to Johnson & Johnson, Abbott also announced impressive financial results in the first quarter of 2025. The company's overall revenue was $10.36 billion, a year-on-year increase of 4%. Medical device sales were $4.9 billion, a year-on-year increase of 9.9%. Nevertheless, Abbott's CEO, Robert Ford, clearly stated in the earnings call that he expects tariffs to have a "hundreds of millions of dollars" negative impact on the company, mainly in the U.S. and Chinese markets. Ford further pointed out that Abbott's estimated tariff costs are about $300 million, close to Johnson & Johnson's estimated $400 million. Unlike Johnson & Johnson, Abbott has adopted a more proactive regional production layout and short-term relief plans. The company announced it will invest $500 million in Illinois and Texas to expand its manufacturing and R&D base for blood and plasma screening equipment. This investment not only helps Abbott diversify risks and mitigate the impact of tariffs on production, but also demonstrates the company's balanced approach between globalization and localization.   03 Tariff Impact: Global Medical Devices Challenges and Opportunities in the Industry As Sino-US trade friction intensifies, the global medical device industry is facing unprecedented challenges. The tariffs imposed by the United States on Chinese medical devices, particularly in high-end equipment such as CT and MRI imaging devices, have led to a significant increase in procurement costs. Additionally, tariffs on key components such as CT tubes and superconducting magnets have put considerable pressure on companies with high import reliance. For Chinese medical device companies that rely on the US market, tariffs have exacerbated their market challenges. Meanwhile, domestic medical device companies see an opportunity to catch up. Companies like Mindray and United Imaging have increased their R&D investments, driving technological innovation, and have gradually replaced some of the high-end equipment market share. For international giants, maintaining competitiveness, reducing costs, will be the core tasks in the coming years amid this global trade war.   04 Coping Strategy: Dual Layout of Globalization and Localization Facing tariff pressure, Johnson & Johnson and Abbott have adopted different but complementary strategies. Johnson & Johnson focuses on mitigating the rise in costs through price adjustments, optimizing production bases, and business restructuring, maintaining competitiveness in the global market. Abbott, on the other hand, has strengthened the global supply chain's risk resistance through a distributed production network and regional layout. The company has not only increased investment in the United States but also actively promoted the expansion of global production bases to cope with long-term tariff policy changes. Moreover, both Johnson & Johnson and Abbott are actively cooperating with industry organizations to seek tariff exemptions, but they remain cautious about the likelihood of success. Both companies have stated that once tariffs are implemented, they are difficult to retract. This historical experience has prompted them to place greater emphasis on adjusting their long-term strategies.   05 Conclusion: Globalization Challenges and Opportunities for Multinational Enterprises Overall, Johnson & Johnson and Abbott achieved steady growth in their Q1 financial reports despite the impact of tariffs. Through different coping strategies, the two giants demonstrated how they adjusted their strategies in the complex environment of globalization and localization to mitigate the negative effects of tariffs. Although tariff pressure poses challenges for global medical device companies in the short term, it also creates new opportunities for localized production, technological innovation, and supply chain optimization. As the China-US trade friction continues to develop, multinational companies will have to constantly adjust their strategies to maintain a competitive edge in the global market. For domestic companies, this is a good opportunity to accelerate innovation and promote domestic alternatives.

This year's Government Work Report explicitly proposed to "optimize the centralized procurement policy, strengthen quality assessment and supervision." In 2025, China's centralized bulk procurement will enter a critical period of consolidation and enhancement. The focus of the policy will shift from "expanding coverage and reducing prices" to "stabilizing prices and improving quality." By dynamically adjusting the selection rules, it ensures that price reductions do not compromise quality, promoting the industry towards standardization and sustainable development.First, the volume-based procurement continues to advance, with procurement scope expanding nationwide. By 2025, seven categories and ten types of medical consumables, including ultrasonic scalpel heads, ligation clips, neurointerventional coils, breast biopsy needles, orthopedic trauma products, dental implants, bone cement for joints, coronary expansion balloons, coronary drug balloons, and coronary intravascular ultrasound diagnostic catheters, have achieved 100% coverage across all regions in China through provincial alliances and provincial volume-based procurement.Dual-chamber pacemakers, coronary guiding catheters, coronary guidewires, manual laparoscopic cutting/stapling devices and staple cartridges, atrial septal puncture sheaths, electrophysiology catheter sheaths, atrial septal puncture needles, surface positioning reference electrodes, perfusion tubing, electrical positioning diagnostic catheters, magnetic positioning diagnostic catheters, intracardiac ultrasound catheters, electrical positioning therapy catheters, magnetic positioning therapy catheters, cryoablation therapy catheters, and electric laparoscopic cutting/stapling devices and staple cartridges have achieved over 90% regional coverage.The municipal centralized procurement will expand the "supplement" scope, extending to county-level medical communities, focusing on basic consumables and low-value medical materials. New forms of centralized procurement, such as "package procurement" for reagents and equipment, as well as the procurement of new products like AI-assisted consumables, will gradually enter the scope of centralized procurement.Secondly, the optimization and improvement of the "one product, one policy" approach have led to more precise centralized procurement rules. In response to the characteristics of different product categories, the rules for centralized procurement have become more refined. For example, in the centralized procurement of cochlear implants, a technical bonus for "3.0T MRI compatibility" has been introduced to encourage technological upgrades among companies. Peripheral vascular stents are grouped and bid on according to treatment location (lower limb/non-lower limb/venous), balancing clinical needs with market competition. This differentiated strategy effectively balances market competition with industry innovation, avoiding the supply risks associated with a "one-size-fits-all" approach.Third, national joint procurement and regional collaboration to break down regional barriers. Provincial alliances are accelerating their evolution into nationwide procurement initiatives. By 2025, the provincial alliance led by Zhejiang and Fujian had achieved nationwide procurement, covering 32 provincial-level administrative regions. In the future, under policy guidance, such projects will become more prevalent. National joint procurement, through unified rules and collaborative negotiations, reduces administrative costs, avoids local protectionism, and promotes the formation of a "unified national market" landscape.Fourth, deepening price management, implementing dynamic regulation and reasonable price differentials in parallel. We will enhance the price linkage mechanism and conduct regular monitoring of centralized procurement varieties. The National Healthcare Security Administration requires all provinces to continue squeezing out the inflated prices of overpriced products and dynamically adjust the selected prices for those with unstable supply or rising costs. At the same time, a price differential regulation mechanism within and between enterprises will be established. For instance, in the follow-up procurement of artificial joints, the price difference of selected products has been reduced from 2.8 times to 1.1 times, promoting fair market competition. Additionally, the listed price of non-selected products must not exceed 1.5 times the selected price, and non-compliant products will be suspended from procurement.Fifth, a dual-wheel drive of credit management and surplus retention policies ensures the implementation of centralized procurement. The credit evaluation system and medical insurance surplus retention policy have become the core tools for the execution of centralized procurement. The former implements graded punishment on enterprises with unstable supply and substandard quality, while the latter establishes an incentive mechanism of "retention of savings and sharing of excesses," returning the saved medical insurance funds to healthcare institutions. By incorporating the execution rate of centralized procurement by healthcare institutions into performance evaluations, it incentivizes the priority use of selected products, ensuring the implementation of the procurement results.Sixth, the process of domestic substitution is accelerating, and technological breakthroughs are reshaping the market landscape. In the five batches of national centralized procurement of high-value medical consumables, the market share of domestic products has continued to rise. For example, the localization rate of coronary stents increased from 70% in the first volume-based procurement in 2020 to 80% in the subsequent procurement in 2022; orthopedic artificial joints also rose from 52% in the first volume-based procurement to 67% in the subsequent procurement. According to incomplete statistics, the current localization rates are 70% for orthopedic spinal consumables, 60% for intraocular lenses, 45% for orthopedic sports medicine products, and 30% for cochlear implants.Seventh, implement standardized closed-loop management throughout the entire process from procurement, usage to settlement. Strengthen supervision over the entry, distribution, and use of centrally procured products in medical institutions. The National Healthcare Security Administration requires medical institutions to procure through provincial platforms, upload inventory and flow data in real time, and establish a quality traceability system. At the same time, the online procurement rate of high-value consumables will be included in the scope of the healthcare security inspections. Institutions that fail to meet the agreed procurement volume or exhibit abnormal use of high-priced non-selected products will be summoned for discussions. The direct settlement between the healthcare security fund and enterprises will be promoted to shorten the payment cycle to within 30 days.Eighth, the separation of technology and consumables should be promoted in coordination with the reform of medical service prices. The year 2025 is a significant year for the reform of medical service prices. Currently, 24 project guidelines have been issued, and provinces are required to complete price adjustments by the third quarter of this year, aiming to establish a unified national price within 2 to 3 years. The National Healthcare Security Administration has made it clear that surgical treatment projects closely related to the centralized procurement of consumables will be prioritized for price adjustments. The reform of medical service prices and centralized procurement should work together to reduce the proportion of consumables through the principle of "separation of technology and consumables," guiding medical institutions to reduce their excessive reliance on high-value consumables and enhance the value of technical services.Ninth, the centralized procurement of medical consumables is transitioning from "price discovery" to "value-based procurement." By 2025, this transition in China’s medical consumables centralized procurement has entered a critical phase, requiring a dynamic balance between "basic coverage" and "innovation promotion." Through innovations in rules, improvements in mechanisms, and technological empowerment, the industry needs to shift from "price competition" to "value competition." As living standards improve and medical technology advances, both patients and healthcare institutions demand more than just low-priced consumables; they place greater emphasis on quality, performance, and applicability. Value-based procurement can better meet the diverse and multi-tiered demands of the medical field, aligning with the development trends of the medical industry.With the continuous advancement of big data and artificial intelligence technologies in the medical field, more data and technical tools will be utilized for the value assessment of medical consumables in the future. This will provide stronger support for value-based procurement and drive its ongoing refinement and development.

Content Summary:Low-value medical consumables primarily refer to disposable sanitary materials frequently used by medical institutions during healthcare services. With the continuous improvement of China's medical insurance system and the rising living standards of the population, per capita medical insurance expenditures and healthcare costs have maintained rapid growth. The low-value medical consumables market has shown considerable growth, accounting for an increasingly larger share of the hospital consumables market. In China's low-value medical consumables industry, injection and puncture products hold the largest market share, while medical dressing products represent the second-largest segment. In 2024, the market size of low-value medical consumables in China is projected to reach approximately 147 billion yuan, with the medical dressings market estimated at around 26.5 billion yuan. By 2025, the low-value medical consumables market is expected to grow to 160 billion yuan, and the medical dressings market is anticipated to reach 29.1 billion yuan. As a subset of the medical device industry, low-value medical consumables are a vital component of China's national economic development and are closely tied to the country's macroeconomic growth. With the ongoing advancement of China's healthcare system, the market size of the low-value medical consumables industry is likely to continue expanding in the future.Listed companies:BGI Genomics (300676.SZ), Mindray Medical (300760.SZ), Lepu Medical (300003.SZ), Intco Medical (300677), Cainiao Shares (301122.SZ), Winner Medical (300888), Kangdelai (603987), Gongdong Medical (605369), Zhende Medical (603301), Aomi Medical (002950), Sanxin Medical (300453), Nanwei Shares (603880), Weili Medical (603309), Yangpu Medical (300030)waitLow-value medical consumables market size, low-value medical consumables market competition pattern, low-value medical consumables industry development prospects1. Definition and Classification of Low-value Medical Consumables IndustryMedical consumables refer to the medical and sanitary materials used by hospitals for patient examination and treatment. They can be further categorized into high-value and low-value medical consumables. According to the Shanghai Medical Device Industry Association, low-value medical consumables primarily include disposable sanitary materials frequently used by medical institutions during healthcare services. These include disposable syringes, infusion sets, blood transfusion sets, drainage bags, drainage tubes, indwelling needles, sterile gloves, surgical sutures, surgical needles, surgical blades, gauze, cotton swabs, medical masks, and more.Low-value medical consumables can be divided into categories such as medical sanitary materials and dressings, injection and puncture, medical polymer materials, medical disinfection, anesthesia consumables, operating room consumables, and medical technical consumables, according to their specific uses. The classification of the low-value medical consumables industry is as follows:The low-value medical consumables industry development现状现状 should be "current situation" in this context, so a more accurate translation would be:"The current situation of the low-value medical consumables industry development" However, if you want a more natural-sounding translation, it could be:"II. Current Development Status of the Low-Value Medical Consumables Industry"With the continuous improvement of China's medical insurance system and the rising living standards of the people, per capita medical insurance expenditures and health expenses are maintaining rapid growth. The market for low-value medical consumables is experiencing considerable growth, and its proportion of the hospital consumables market is continuously expanding. In 2023, the market size of low-value medical consumables in China reached 128 billion yuan. In 2024, it is expected to be approximately 147 billion yuan, and it is projected that the market size will reach around 160 billion yuan by 2025. Low-value medical consumables belong to the medical device industry and are an important component of China's national economic development. Their growth is closely related to China's macroeconomic development. In the future, as China's medical system continues to develop, the market size of the low-value medical consumables industry is likely to keep rising.In China's low-value medical consumables industry, injection and puncture products account for the largest share, approximately 30%, followed by medical dressing products, which account for about 21%.The full name of medical dressings is medical hygiene materials and dressings, which is the second largest sub-category of low-value medical consumables in China. In recent years, China's medical dressing market has also entered a period of rapid development. According to statistics, the market size of medical dressings in China grew to 26.5 billion yuan in 2024 and is expected to reach 29.1 billion yuan in 2025. With the continuous expansion of domestic market demand, large medical dressing export enterprises have increased their efforts to explore the domestic market, and foreign manufacturers have also gradually implemented localization strategies for the Chinese market.Relevant report: "Research Report on Market Competition Situation and Future Strategy of China's Low-value Medical Consumables Industry" published by Zhiyan ConsultingThree, the industrial chain of low-value medical consumables1. Low-value medical consumables industry industrial chain structureThe low-value medical consumables industry includes a wide range of categories. Its upstream supply chain involves raw materials such as textile materials, medical metal materials, polymer materials, and bioceramic materials; the midstream consists of the production and manufacturing of various low-value consumables; and the downstream is primarily applied in various medical institutions, military, medical schools, rehabilitation institutions, and so on.IV. Development Environment of the Low-Value Medical Consumables Industry - Relevant PoliciesLow-value medical consumables belong to the category of medical devices. They are an indispensable part in the medical field. In recent years, China has successively introduced a series of laws, regulations, and policies to promote the development of the medical device industry, laying a solid foundation for the healthy development of the low-value medical consumables industry and driving its high-quality rapid development. As the reform of medical systems deepens in China, it also provides a healthier, more orderly, and standardized development environment for the low-value medical consumables industry.

In 2024, driven by both regulatory policies and industry demand, India's medical device market continued to develop, with a total annual registration volume of 28,405, marking a 12.46% increase compared to 2023. However, the monthly growth rates showed divergence, reflecting the complex interplay of cyclical market adjustments and regulatory efficiency. However, an overview of the development pattern of India's medical device market reveals that the market still relies heavily on medium and low-risk products to drive growth. To uncover the core characteristics and potential challenges of India's medical device market, PharmZoom Medical Device Data has produced an authoritative report, systematically analyzing the annual medical device registration trends in India to provide decision-making references for industry participants.01Overall situation and trendsAccording to data statistics from Yaozhi Medical Devices, in 2024, India launched a total of 28,405 medical devices. Among these, the number reached its peak in May, with 2,879 devices; while October saw the lowest, with 2,051 devices. The month with the highest year-on-year growth rate was May, reaching 30.51%; whereas the month with the highest year-on-year decline rate was June, at 22.44%. Although there were fluctuations in certain months, the overall trend showed a downward trajectory. (Figure 1).Figure 1. Monthly Registration of Medical Devices Launched in India, 2024Data Source: Yaozhi Medical Device Data02Statistics on Types of Medical Devices Listed in IndiaAccording to India's "Medical Devices Rules, 2017," medical devices are classified into four risk categories (A to D) and are regulated by the Central Drugs Standard Control Organization (CDSCO).According to the statistical data from Yaozhi Medical Devices, in 2024, there were a total of 4,474 Type A (low-risk) medical devices, accounting for 15.75% of the total. Type B (low-to-medium risk) medical devices numbered 16,257, representing a significantly higher proportion at 57.23%. Type C (medium-to-high risk) medical devices totaled 6,274, making up 22.08% of the total. Type D (high-risk) medical devices had the lowest count at 1,400, accounting for just 4.94% (see Figure 2).Figure 2. Proportions of Risk Types of Medical Devices Launched in India in 2024Data Source: Yaozhi Medical Device Data This shows that the registration of medical devices in India is mainly for medium and low-risk products, with the proportion of high-risk devices being the smallest. This phenomenon reflects a high degree of consistency between regulatory classification and the actual market distribution.In 2024, among the medical devices listed in India, the month of September saw the highest number of registrations for Class A products, reaching 445. The month with the highest registration number for Class B products was July, totaling 651, accounting for 12.67% of the annual registration volume. The registration numbers for both Class A and Class B products in February were the lowest of the year, with 220 and 258 respectively.Overall, the registration numbers for these two types of products show an increasing trend. The highest number of registrations for Class C products was in June, reaching 105 cases, accounting for 31.5% of the total annual registrations; the lowest was in November, with only 1 case. For Class D products, there were no registration records in most months, with May and July having the highest number of registrations, both at 38 cases (see Figure 4). Low-risk products (Class A/B) dominate the market and are showing positive trends, while medium-to-high-risk products (Class C/D) have low and uneven registration numbers, which may be related to industry demand, approval cycles, or policy implementation.Figure 3. Trends in Different Management Types for Medical Device Registration in India, 2024Data source: Yaoke Medical Device Data03Analysis of Medical Device Products Listed in IndiaIn 2024, a total of 10,246 in vitro diagnostic reagent products were listed in India, along with 18,159 medical device products (see Figure 4). Among these, the most common product was intravenous cannulas, with 156 items; followed by disinfectant surgical products, with 93 items; and ranking third was a category of diagnostic reagent products (monochromatic reagent type), with 74 varieties. Notably, this category was the only one among the top ten product types to belong to the in vitro diagnostic reagent classification.In addition, the 20th-ranked general laboratory reagents and consumables IVDs also have a considerable number, totaling 29 types.Currently, the Indian medical device market is dominated by medical equipment, with a strength in basic consumables; the IVDs sector has a limited and fragmented range of products, which may be influenced by technical barriers, approval policies, or differences in market demand.Figure 4. Ranking of Registered Medical Device Product Categories in India in 2024 (Top Ten)Data source: Yaoke Medical Device DataProducts with medium-low risk (Class A/B) account for over 70% (72.98%), while high-risk devices (Class D) make up only 4.94%. This data confirms the strictness of India's regulatory framework in risk control and also reflects a market dominated by basic medical needs. The number of registrations peaked in May (2,879 cases) and dropped to its lowest in October (2,051 cases). Leading categories such as intravenous indwelling needles (156 cases) and sterilized surgical products (93 cases) dominate, highlighting the strong demand for basic clinical consumables. However, in the IVDs field (in vitro diagnostic reagents), only single-color reagents made it into the top ten, revealing weaknesses such as high technical barriers and a fragmented market. The registration volume of Class C/D products is low and unevenly distributed (for example, only one Class C product was registered in November), possibly due to long approval cycles, insufficient RD investment by companies, and strict policy enforcement.From the data above, the Indian medical device market still relies on low-to-medium risk products to drive growth. However, there is an urgent need for policy optimization (such as accelerating the approval process for high-risk devices) and technological innovation to enhance competitiveness in the IVDs sector, in order to meet the increasing demand for precision medicine.

The Terminator for Consumables Payment Dilemmas is Here?01Many places across the countryThe healthcare insurance fund shifts from "post-payment" to "pre-payment".On March 24, the Zhejiang Provincial Medical Insurance Bureau issued the "Notice of the Zhejiang Provincial Medical Insurance Bureau and the Zhejiang Provincial Department of Finance on Printing and Distributing the Prepayment Management Measures for Basic Medical Insurance Funds in Designated Medical Institutions in Zhejiang Province" (hereinafter referred to as the "Notice").In November last year, the National Medical Insurance Administration, in conjunction with the Ministry of Finance, issued the "Notice on Properly Carrying Out Medical Insurance Fund Prepayment Work," which clarified the connotation, conditions, and standards of the medical insurance fund prepayment policy, standardized the management of the prepayment process, accounting, and fund supervision, and pointed out that localities should implement the fund prepayment work according to the requirements of the notice.The prepaid funds of the basic medical insurance fund are set up as working capital to help designated medical institutions alleviate the pressure of medical expense advances, improve medical service capabilities, and enhance the sense of gain for insured patients when seeking medical treatment. These funds are used for expenditures such as the procurement of medicines and medical consumables.Medical institutions applying for advance payment must meet certain conditions.The above document from Zhejiang clearly states that designated medical institutions within the coordinated area that meet the following basic conditions can apply for prepayment funds:The specific process of the advance payment procedure is as follows:(Chart: Cyble Blue Medical Devices) Meanwhile, if designated medical institutions have any of the following circumstances, the medical insurance department should promptly reclaim the advance payment.According to the Notice, a prepayment fund equivalent to 1 month will be allocated to designated medical institutions that meet the prepayment criteria. For designated medical institutions in the same coordinated area where the growth rate of basic medical insurance fund expenditures for the previous year was ≤5%, the comprehensive settlement or medical insurance performance assessment results for the most recent year were excellent, and they performed outstandingly in key medical insurance tasks, local areas may appropriately increase the scale of the prepayment fund based on actual circumstances, but it shall not exceed 2 months.According to statistics, as of now, many regions such as Hunan, Yunnan, Zhejiang, Hubei, Inner Mongolia, Tibet, and Hebei have issued documents to promote the establishment of a prepaid fund management system. Previously, Guizhou, Heilongjiang and other places have also publicly solicited opinions on the management measures for prepaid medical insurance funds.The shift in medical insurance fund settlement from a "post-payment system" to a "pre-payment system" will significantly alleviate hospitals' financial burden of advance payments and improve fund turnover efficiency. Under this chain reaction in the settlement turnover process, upstream players in the industry such as pharmaceutical companies and medical supply manufacturers will also benefit, with the issue of triangular debt in payments expected to ease.02"Three Settlements" is fully promotedCan the dilemma of material reimbursement be resolved?The issue of reimbursement for consumables has always been difficult to resolve.Previously, Saibailan Medical Devices conducted a small-scale survey on the payment cycle of medical consumables, with a total of 281 participants voting. The voting results showed that the payment situation for centralized procurement (CP) medical consumables was significantly better than that for non-CP medical consumables. Forty-nine percent of the participants indicated that the payment cycle for CP medical consumables could be controlled within half a year. However, 84 participants stated that the payment cycle for the medical consumables related to their business had extended to more than one year.The payment cycle for non-centralized procurement medical consumables is even longer, typically ranging from 1 to 2 years. However, 13 participants reported that their non-centralized procurement consumables could be paid within 3 months.It is not hard to see that there are significant differences in the repayment situations across various regions and medical institutions, with many areas still experiencing prolonged repayment times.In 2025, the "three settlements" of medical insurance became a hot topic in the field of drug and device payments. The national and local levels are vigorously promoting new measures, which are expected to solve the issue of triangular debts in payments.Since the beginning of the year, the National Healthcare Security Administration has intensively disclosed the progress of the "three settlements" healthcare reform across multiple regions in the country, including provinces such as Beijing, Henan, Hubei, Anhui, Jiangxi, and Hainan. Reform measures in cities like Xiamen (Fujian), Anyang (Henan), Zhengzhou (Henan), Yunfu (Guangdong), Hami (Xinjiang), Binzhou (Shandong), and Dalian (Liaoning) have also been shared as case examples.The "three settlements" in medical insurance refer to the immediate settlement between the medical insurance fund and medical institutions, the direct settlement between the medical insurance fund and pharmaceutical enterprises, and the simultaneous settlement between the medical insurance fund and commercial insurance, etc.Previously, local governments have made many explorations in direct settlement. With the acceleration of instant settlement and synchronous settlement, the payment for consumables is expected to be fully expedited.On March 26, the National Healthcare Security Administration disclosed the progress of the "three settlement" healthcare reform in Anyang, Henan. The report indicated that the region has preliminarily achieved the coordinated goal of "real-time settlement, direct settlement, and simultaneous settlement" across the entire healthcare fund chain.In terms of instant settlement, the reimbursement time limit for medical insurance funds has been compressed from 30 working days after the designated medical institution's declaration to as short as 1 working day, with the first batch of 16 medical institutions included in the pilot program; direct settlement has expanded from 1 designated medical institution to 14, and the payment cycle for pharmaceutical distribution companies has been shortened to 25 days; a "one-stop" service window has been established in 5 pilot hospitals, achieving synchronous settlement for basic medical insurance and "Anhui Bao."In terms of timing, the National Medical Insurance Administration has made it clear that by 2025, the nationwide basic implementation of direct settlement for centrally procured medicines and consumables, as well as national negotiation medicines, will be achieved. By 2026, direct settlement for these will be fully realized nationwide. Additionally, by 2025, about 80% of the coordinated regions will basically achieve instant settlement of basic medical insurance funds with designated medical institutions, and by 2026, all coordinated regions will realize instant settlement of basic medical insurance funds with designated medical institutions. The collection of consumables payments is expected to usher in a new era.

The biosynthesis industry, as an emerging sector in the field of life sciences in the 21st century, is leading a new round of biotechnology revolution with its unique technological advantages and broad application prospects. In recent years, with continuous breakthroughs and advancements in technologies such as gene editing and synthetic biology, the biosynthesis industry has experienced rapid development on a global scale.I. Analysis of the Current Development Status of Bio-synthesis IndustryBiological synthesis has witnessed explosive growth in recent years. Data shows that the global biological synthesis market size grew from $5.3 billion in 2018 to over $17 billion in 2023, with a compound annual growth rate of 26.4%. It is expected that by 2028, the global biological synthesis market size will reach nearly $50 billion, with a compound annual growth rate of 23.4% from 2023 to 2027.In the Chinese market, biosynthesis has also shown strong development momentum. Data shows that the market size of biosynthesis in China increased from 2.441 billion yuan in 2018 to approximately 10.3 billion yuan in 2022, with a compound annual growth rate far exceeding the global growth rate. It is expected that by 2025, the market size of biosynthesis in China will exceed 7 billion USD, and by 2029, it will reach between 28.5 billion and 40 billion USD.Data source: Zhongyan PuhuaThe development of biosynthesis is inseparable from the continuous innovation of technology. In recent years, breakthroughs in key technologies such as gene editing and synthetic biology have provided strong momentum for the development of biosynthesis. For example, gene editing technologies like CRISPR-Cas9 enable researchers to precisely cut, insert, or replace DNA fragments, allowing for precise manipulation of the genetic information of organisms. This capability allows biosynthesis to create organisms or biomolecules with specific functions and properties.In product applications, biosynthesis technology has been widely used in multiple fields such as medicine, chemicals, agriculture, and food. In the medical field, biosynthesis technology can be used to produce biopharmaceuticals such as insulin and growth hormones, as well as biological products like vaccines and antibodies. In the chemical industry, biosynthesis technology can be used to produce bio-based materials and biofuels, which are green chemicals. In agriculture, biosynthesis technology can be employed to improve crop yields, enhance crop quality, and develop new types of pesticides and fertilizers. In the food sector, biosynthesis technology can be used to produce functional foods and food additives.II. Analysis of the Competitive Landscape in the Biosynthesis IndustryThe global biosynthesis market presents a diversified competitive landscape. Developed countries and regions such as the United States and Europe possess strong technological capabilities and market competitiveness in the field of biosynthesis. Among them, the United States holds a dominant position with a market share of 21.1%, thanks to its increased level of industrialization and growing emphasis on research and development. Germany accounts for 40.2% of the European market, and with the rising number of cancer patients in the region, the demand for the application of biosynthesis technology in cancer treatment is continuously increasing.In market competition, multinational companies such as Novo Nordisk, Sanofi, and Bayer occupy a dominant position due to their strong RD capabilities, brand influence, and market expansion abilities. These companies not only possess advanced biosynthesis technologies and products but also continuously expand their business fields and market share through mergers, acquisitions, and collaborations.According to the "研究报告" released by Bellen House Research Institute,"China's Synthetic Biology Industry Development Potential Suggestions and In-depth Investigation Forecast Report for the Fifteenth Five-Year Plan"Show:In the Chinese market, biosynthesis also presents a diverse competitive landscape. On one hand, multinational companies are entering the Chinese market, leveraging their advanced technology and product advantages to compete fiercely with domestic companies. On the other hand, domestic companies are continuously increasing their RD investment, improving product quality and technical standards, and gradually narrowing the gap with multinational enterprises.Currently, a number of competitive companies have emerged in China's biosynthesis sector, such as Huaxi Bio-Tech, Kaisa Bio-Tech, and Huaheng Bio-Tech. These companies possess strong technical capabilities and market competitiveness in the field of biosynthesis, with their products widely applied in sectors including pharmaceuticals, chemicals, agriculture, food, and more. At the same time, these enterprises are actively expanding their international markets, enhancing the global influence of China's biosynthesis industry.III. Analysis of the Future Development Prospects of the Biosynthesis Industry(1) The market demand continues to grow.With the growth of the global population, improvement in living standards, and increasing awareness of healthcare, the market demand for biosynthetic products will continue to rise. Particularly in the fields of medicine, chemistry, and agriculture, biosynthesis technology will play an increasingly important role. For example, in the medical field, with the aging population and the rising incidence of chronic diseases, the demand for biopharmaceuticals and bioproducts will continually increase. In the chemical industry, as environmental regulations become stricter and consumer awareness of environmental protection grows, the demand for green chemicals and bio-based materials will also continue to grow.Technological innovation drives industrial upgrading.Innovation in technology is the driving force behind the continuous development of biosynthesis. In the future, with ongoing breakthroughs and advancements in gene editing and synthetic biology technologies, biosynthesis techniques will become more mature and refined, promoting the growth of the biosynthesis industry to higher levels and broader fields. For example, through gene editing technology, researchers can create microorganisms or cell factories with specific functions and properties for producing high-value-added biological products. Using synthetic biology technology, researchers can design more efficient and stable biosynthetic pathways, enhancing the yield and quality of biological products.The policy environment continues to optimize.errorConclusionIn conclusion, biosynthesis, as a new industry in the field of life sciences in the 21st century, is leading a new wave of biotechnology revolution with its unique technical advantages and broad application prospects. With the global population growth, improvement in living standards, and enhanced health awareness, the market demand for biosynthesis products will continue to increase. Additionally, technological innovation, policy support, and international cooperation will further drive the development of the biosynthesis industry to higher levels and broader fields. In the future, the biosynthesis industry will迎来更加广阔的发展前景和机遇。 （注：最后一句未完整提供，但根据上下文应为“迎来更加广阔的发展前景和机遇。”其英文应为 "usher in even broader prospects and opportunities."） 因此，完整的句子应为：In conclusion, biosynthesis, as a new industry in the field of life sciences in the 21st century, is leading a new wave of biotechnology revolution with its unique technical advantages and broad application prospects. With the global population growth, improvement in living standards, and enhanced health awareness, the market demand for biosynthesis products will continue to increase. Additionally, technological innovation, policy support, and international cooperation will further drive the development of the biosynthesis industry to higher levels and broader fields. In the future, the biosynthesis industry will usher in even broader prospects and opportunities.

Medical-grade chemical materials come in many types, primarily可分为高分子、金属、无机非金属及复合材料, and they are mainly applied in areas such as medical devices, drug carriers, implant equipment, and more. Note: The phrase "可分为高分子、金属、无机非金属及复合材料" is directly translated to maintain the original structure, but for better readability in English, it might be more appropriate to rephrase it as "primarily分为 polymers, metals, inorganic non-metallic materials, and composite materials".China has a large population and a vast and完善 medical system. The market size of medical materials has already exceeded one trillion yuan, with a compound annual growth rate exceeding20%Particularly in areas such as wound care and surgical consumables, large-scale application has already been achieved.However, high-end medical materials have一直严重依赖进口, such as ultra-high molecular weight polyethylene and halogenated butyl rubber.75%Dependent on imports.The production process of medical-grade materials and the international medical certification barriers severely restrict the localization process of medical materials.In the country“Fourteen Five”Under the promotion of the new materials special project,COC/COPMaterials such as biodegradable polylactic acid have achieved technological breakthroughs; however, the industrial chain is still not complete, including raw materials, key processes and equipment, and quality control.“Bottleneck”The problem urgently needs to be solved.Today, we will analyze the current status, challenges, and future pathways of domestic medical materials from the perspectives of technological breakthroughs and industrial upgrades.I, Medical chemical materials include which ones? (Note: The original Chinese sentence seems to be incomplete or incorrectly phrased. A more accurate translation of the intended meaning would be: "I. What are the types of medical chemical materials?")Classification of Medical Materials Medical chemical materials are a type of functional materials with special properties such as biocompatibility and corrosion resistance, widely used in medical devices, drug carriers, implantable devices, and other applications.According to material category, they can be roughly divided into three types.  Polymer materials (accounting for medical materials)60%): including polyurethane, silicone rubber, polylactic acid (PLA), polyether ether ketone (PEEK, can be applied in areas such as artificial organs and surgical supplies.  Inorganic non-metallic materials, such as bioceramics and glass, are commonly used in orthopedic and dental implants.  Metals and composite materials, such as titanium alloys and carbon fiber reinforced polymers, are commonly used in cardiovascular stents and high-load implantable devices.The market size is very large. 2024In 2023, the scale of China's medical device market has reached1090010 billion yuan, among which the market size for medical polymer materials exceeds3000Billion yuan, with a compound annual growth rate of31.55%。 Biomaterials have been listed as a national“Fifteen-fourteen”Key directions2024The industry's RD investment has also increased this year.8.2%Above all, the industrial chain upgrade driven by policies will accelerate.  II. Comparison of Production Patterns at Home and Abroad Current Status of International Monopoly High-end medical materials have long been monopolized by foreigners: ultra-high molecular weight polyethylene is mainly controlled by Celanese of Germany and DSM of the Netherlands.DSMMonopoly; The import dependence on halogenated butyl rubber (vaccine stopper material) exceeds70%。  Higher technical barriers: Medical-grade materials have strict requirements for molecular weight and impurity content (such as heavy metals).0.1ppmThe requirements for the ) products are more stringent than those for conventional products, and many production technologies, core catalysts used in reactions, and key production equipment are monopolized by international giants through patents.  Domestic technological breakthroughsMedical Polyolefin: Lanzhou Petrochemical has built the country's first clean production facility for medical polypropylene, and some grades developed can replace imported materials for upright infusion bags.  COC/COPMaterials: Acuity and TuoXing Technology have successfully broken through the synthesis technology of isoprene monomer.Acrylic thousand-ton level high transparency material (Cyclic olefin copolymer)COCThe production facility, which has been completed,24Production trials have already begun at the end of the year.TuoXian Technology Phase I3000ton/YearCOC/COPProduction facility2023year6Completed and put into production in the same month, the products have already started to enter the market, with a transparency rate of ().92%It has reached international standards and can be used in vaccine packaging and optical lenses.Biodegradable materials: Ordinary absorbable suture products can be produced on a large scale by domestic companies, such as polyglycolic acid and polylactic acid.PGLASutures and other items, the production cost is that of imported products.60%-70%。However, its products mainly focus on low to medium molecular weight products, and there is still a certain gap in the precise control of degradation speed and mechanical strength compared to imported products.III. Core Challenges in the Process of Domestication  Technical bottleneck Ingredients“Stranglehold”The dicyclopentadiene monomer is used for production.COC/COPMain raw material, high purity/Medical-grade materials are mainly reliant on imports, with companies like Mitsubishi Chemical and Mitsui Chemicals dominating the market.80%The above market share. Isobutylene monomer accounts forCOC/COPTotal cost of60%, resulting in relatively high production costs for enterprises; ultra-pure5NLevel (≥99.999%Quartz sand, which is an raw material for vaccine vials, has a domestication rate of less than 30%.20%。  Insufficient process accuracy: DomesticPLAThe degradation rate of sutures fluctuates within the range of.±20%Imported products can be controlled at.±5%Within the domestic range, domesticallyPLAFiber strength is0.6-0.8GPaFails to meet the standards of imported products.1.2GPa, resulting in low suture tension retention after surgery.The purity of domestic isobutylene monomer is99%Imported products can achieve99.9%, leading toCOCThe fluctuation range of transmittance is relatively wide.±2%Import±0.5%）。Medical Useα-The curing time deviation of domestically produced cyanoacrylate adhesives.±10Seconds, imports can already be controlled at±3Seconds.Market and Certification Barriers The international certification cycle for medical products is long.FDA、CEAuthentication takes approximately需要提供具体时间或者更多上下文以给出准确翻译。3-5In the year, the cost of certification exceeded ten million, and domestically there were only10%The company has passed the certification.  Medical Institution Usage Habit: Top Tertiary Hospitals in China90%For high-value consumables (such as artificial joints), imports are prioritized, while domestic products are placed in the second tier due to insufficient performance in biocompatibility, corrosion resistance, or mechanical strength.  Shortcomings in Industry Chain Coordination Insufficient upstream-downstream collaboration: For example, orthopedic materials need to match the corresponding surgical instrument design, but domestic companies have barely any.“Material-Device-Clinical”The joint RD system has led to a situation where even with suitable materials available, they cannot be practically applied.  Equipment relies on imports: continuous polymerization reactors, solid-liquid separation equipment, stripping equipment, crystallization equipment, high-precision injection molding machines, and other key equipment.90%Still requires imports. Some domestic companies can produce, but their performance, efficiency, adaptability, and after-sales service do not yet meet the standards of foreign companies.  Summary and Outlook Domestic medical chemical materials are already at “From quantitative change to qualitative change” The critical point in polyolefins,COC/COPMid-range products are already in mass production, and the situation of relying on imports for high-end products won't last much longer.With the strong support of national policies (such as“New Materials Special Project”Billion-dollar funds and the continuous iteration of technologies among production enterprises.AI+(nano-modification), expected2030The localization rate of high-end medical products is expected to increase to.60%That is all.

Industry Overview Biomaterials, also known as biomedical materials, refer to functional materials used for medical purposes, which come into contact with living systems and interact with them. These materials can diagnose, treat, replace, or repair human tissues and organs, or enhance their functions. They include both natural and synthetic functional materials. Based on the material attributes, biomaterials can be categorized into medical metallic materials, bio-ceramic materials, medical polymer materials, and medical composite materials. According to their intended use, they can be classified into oral materials, hard tissue repair and replacement materials (mainly used for bone marrow and joints), soft tissue repair and replacement materials (primarily used for skin, muscles, heart, lungs, stomach, etc.), and medical devices.The upstream market participants in the biomedical materials industry chain are mainly suppliers of biomedical raw materials. According to the different properties of materials, the upstream of the industry chain includes five major categories of raw material suppliers: metal materials, polymer materials, composite materials, inorganic materials, and regenerative materials. The midstream entities are biomedical materials manufacturing companies, including manufacturers of implantable medical devices. The downstream involves terminal sales institutions, including general hospitals, private hospitals, specialty hospitals, health centers, and various medical institutions and patients.The application of biomaterials can be traced back to ancient times. In 3500 BC, the ancient Egyptians used cotton fibers and horsehair for wound suturing; the Native Americans in Mexico used wooden pieces to repair injured skulls. In 2500 BC, aristocratic families in China used materials such as gold, silver, tin, and mercury alloys to restore missing teeth. In the 1800s, reports of the widespread use of metal plates to stabilize fractures began to emerge. After the invention of vulcanized natural rubber in 1851, people started using it to create artificial dentures and jawbones, marking the emergence of biomaterials. By 1886, the first successful clinical use of steel plates and nickel-plated steel for fracture treatment officially opened the chapter for the biomaterials industry. In modern times, biomaterials have mainly undergone three developmental phases: initial development, rapid development, and innovative development.In the initial development stage, biomaterials were primarily composed of inert materials, including four major types: metallic materials, polymer materials, inorganic materials, and composite materials. In 1926, stainless steel was used in surgery, replacing easily corroded steel. In 1929, cobalt-chromium alloys began to be used in dental medicine, initially for partial denture repairs. In 1936, acrylic glass was developed and quickly became widely used for making dentures and fillings. In 1943, the United States first used 302 stainless steel for fracture fixation, further improving the material's corrosion resistance. In the 1950s, silicone polymers were applied in the medical field, and the application range of polymer materials in artificial organs further expanded. In the 1960s, pure titanium began to be used clinically as an implant material. During this stage, inert biomaterials experienced initial development, and clinical applications continued to expand.After the 1960s, scholars from various countries began to conduct in-depth research in materials science, medicine, biology, and other disciplines. At the same time, advanced instruments and equipment were continuously invented and released, leading to a rapid development phase for biomedical materials. This phase of rapid development was primarily characterized by the biocompatible evolution of biomedical materials, focusing on two main directions: 1) the development of new biomedical materials; 2) the productization development of inert biomaterials. In 1963, thoracic surgeons at Shanghai Hospital in China collaborated with several medical device research institutes to develop an artificial heart valve, which was successfully applied clinically for the first time in 1965, replacing the mitral valve with a domestically produced cage-ball type valve. The clinical use of heart valves is a primary manifestation of the productization development of biomedical materials. In the 1970s, calcium phosphate glass ceramics were discovered, which have a similar chemical composition to human bone tissue and can perfectly integrate with human tissue. During the same period, Chinese scholars began to engage in research on implantable cardiac pacemakers. In 1990, Zhuhai's New Pearl Pacemaker Company was established, developing a fully digital CMOS integrated programmable frequency SSI pacemaker to meet the market demand for cardiac pacemakers in China. In the 1980s, heart stents primarily made of pure metal structures began to emerge. During this stage, numerous new types of biomedical materials and their products began to appear, allowing for the rapid development of biomedical materials.The biocompatible development of biomedical materials mainly considers the compatibility of the materials and aims not to alter their fundamental structures. Long-term use of such materials may lead to certain adverse reactions. On this basis, scholars from various countries have begun to develop tissue engineering materials that can promote tissue repair and regeneration in the human body. The term "tissue engineering" was first proposed by the National Science Foundation (NSF) in the United States in 1987. Since the 21st century, tissue engineering materials have been continuously developed and marketed, becoming one of the most promising high-tech industries of the 21st century.Related report: The report released by Zhiyan Consulting titled "》Industrial StatusBiomedical materials can be widely used in fields such as surgical repair, physiotherapy rehabilitation, and the replacement of human tissues or organs, involving multiple medical specialties including orthopedics, cardiovascular surgery, neurosurgery, and plastic surgery. In addition, with the continuous development of biotechnology, the application of biomedical materials in drug delivery systems and biodegradable materials is also becoming increasingly widespread. As a result, in recent years, with the continuous improvement of global medical standards and the increasing medical expenditure of residents in various countries, the global biomedical materials market has shown rapid growth. According to data, in 2023, the global biomedical materials market size has reached 423.5 billion USD, with a compound annual growth rate of 12.24% over the past five years.Compared to the foreign market, Chinese companies in the biomedical materials industry started later and have had less time to cultivate terminal consumption, but overall, the industry is developing rapidly with huge market potential. Data shows that the market size of China's biomedical materials industry has grown from 173 billion yuan in 2016 to 664 billion yuan in 2023. Globally, the top thirty companies, including Johnson Johnson, Medtronic, Zimmer Biomet, Stryker, B. Braun, and Cook, account for over 70% of the global biomedical materials market. It is worth noting that while the global biomedical materials industry is highly concentrated, China's industry still presents a "small, disordered, and diverse" situation, leading to fierce and chaotic competition domestically. This results in weak market innovation capabilities. As such, most domestic biomedical materials production currently focuses on low-end products, with the industrialization process of high-end biomedical materials progressing slowly, and imported products dominate the high-end biomedical materials market in China.In response to this situation, the Ministry of Industry and Information Technology and the National Medical Products Administration have jointly launched the initiative to support innovation in biomedical materials through various dimensions, including policies, financing, and commercialization. In the future, as the government's support for innovative biomedical materials policies deepens, the technological innovation capabilities of domestic biomedical material enterprises will continue to improve, the industrial chain will continually extend, and the upgrading process of China's biomedical materials industry will accelerate. Domestic biomedical materials are expected to capture a share of the international brand market, with the market share of domestic products further increasing and gradually replacing imported products. According to market development forecasts, as the process of domestic substitution in China's biomedical materials industry accelerates, coupled with the increasing international recognition of domestic products, the national market size for biomedical materials is expected to exceed 1.16 trillion yuan by 2029.In terms of细分产品市场规模, currently in China, the commonly consumed biomaterials can be categorized into medical polymer materials, medical metallic materials, medical inorganic non-metallic materials, medical composite materials, bioregenerated materials, and nanobiomaterials. Among these, medical polymer materials and metallic materials account for a larger proportion of the total consumption; the demand for inorganic metallic materials such as medical ceramics is also increasing, continuously driving the growth of the domestic biomaterial market.Development TrendCurrently, the frontiers and development directions of biomaterials mainly include: the design and development of next-generation biomaterials, nanobiomaterials and soft nanotechnology, surface modification and surface engineering research, and advanced manufacturing methodologies. The design and development of next-generation biomaterials represent the goal pursued in biomaterials research. Nanobiomaterials and soft nanotechnology are at the forefront and hotspots of biomaterials RD. Surface modification and surface engineering are the primary approaches for developing new-generation biomomedical materials. Advanced manufacturing methodologies are a key focus in the field of biomaterials science. Therefore, many research institutions have focused their efforts on these research directions and achieved breakthrough progress in numerous subfields.The United States has developed a new generation of bone substitute materials and polymer biomaterials that effectively extend the survival rate of stem cells. Japanese biomaterials experts have created polycaprolactone (PCL) reinforced composites and designed amorphous polymer monomer co-crystallization materials with a higher crystallinity range. In the European Union, German scholars have manufactured a novel bone healing material following human mechanisms and designed magnetic microsphere materials with stronger magnetic properties.Chinese researchers are also constantly innovating in the field of novel biomaterials. A research team from Fudan University has developed a coronary stent that combines high mechanical properties with an appropriate degradation rate through the development of metal-polymer composite technology. Researchers from the Chinese Academy of Sciences have created a fullerene amino acid derivative that significantly reduces the side effects of cancer chemotherapy, greatly enhancing the tolerance to chemotherapy. Researchers from South China University of Technology have developed electroactive biomaterials that significantly promote bone integration and the repair of spinal cord nerve injuries.In recent years, China's biomedical materials industry has made significant progress and has become one of the important pillars of the national economy. The "bottlenecks" restricting the development of China's biomedical materials industry mainly lie in the inability of technology to meet market needs, the disconnection between technology and management, weak engineering capabilities, and insufficient funding, resulting in slow conversion of research results and a low degree of industrialization. In response to these issues, as relevant national policies continue to be implemented effectively, the development mechanism of China's biomedical materials industry will accelerate its formation. The industry will gradually establish a unified and comprehensive planning and management system, continuously promoting an increase in RD investment from domestic biomedical materials companies, and accelerating the complete pathway from research and development to application and industrialization of cutting-edge materials in key areas. This will provide a new approach to accelerate the resolution of clinical demands and better promote the sustainable, stable, and rapid development of the biomedical materials industry.

The new era of the silver-haired health industry has arrived.01Support a number of hospitals in transforming into rehabilitation hospitals and nursing homes.Strengthen the application of intelligent medical devices for the elderlyRecently, the Department of Civil Affairs of Jiangxi Province and the Health Commission of Jiangxi Province issued a notice on the "Several Measures to Promote Elderly Care Services and Elderly Health Consumption" (hereinafter referred to as the "Measures"). The notice includes 10 measures across three major areas aimed at promoting elderly care services and elderly health consumption.The measures clearly state that efforts should be made to incorporate elderly-friendly renovations into hospital ward upgrades. It supports the transformation of some secondary and lower-level healthcare institutions in areas rich with medical resources into rehabilitation hospitals or nursing homes. It also encourages county (district)-level healthcare institutions, especially those with unsaturated service capacity, to extend their services into the integrated medical and elderly care sector.In addition, strengthen the innovation, research and development, and application of technology and smart devices suitable for the elderly, such as home health monitoring, smart wearable devices, and barrier-free technology products. In response to the needs of the elderly for chronic disease prevention and treatment, as well as health maintenance, provide artificial intelligence support for health management, health monitoring, and health care for the elderly.(Illustration: Cybeline Instruments)The transformation of hospitals is expected to bring about some demand for equipment procurement. According to the "Basic Standards for Rehabilitation Hospitals," a secondary rehabilitation hospital must set up at least three departments from the following: Orthopedic Rehabilitation, Neurological Rehabilitation, Pediatric Rehabilitation, Geriatric Rehabilitation, Auditory and Visual Rehabilitation, and Pain Rehabilitation, as well as Internal Medicine, Surgery, and Intensive Care Unit, and must be equipped with basic equipment, specialized equipment, and information technology equipment, among others.(Extract from the Basic Standards of Rehabilitation Hospitals (2012 Edition))At the same time, the promotion of integrated medical and elderly care will also fill the demand for health and养老.On the industrial side, the "Measures" also propose to cultivate and develop a number of large-scale, branded enterprises in the silver-haired industry. Support localities with favorable conditions to create silver-haired economic industrial parks that integrate local特色 industries. Strengthen the research and development of rehabilitation assistive products, promote the iterative upgrading of traditional rehabilitation assistive products, and expand the supply of high-quality products.02‍The silver-haired health trend has arrived.The "window period" for the silver-haired health industry has arrived.The General Office of the Central Committee of the Communist Party of China and the General Office of the State Council recently issued the "Special Action Plan to Boost Consumption," which clearly states that the central budget investment will provide increased support for project construction in areas such as education, healthcare, skills training, elderly care, childcare, and cultural tourism and sports.At the China Development高层论坛2025 Annual Meeting held from March 23 to 24, Tang Chengpei, Vice Minister of Civil Affairs, pointed out that China's silver economy has enormous potential for development, and efforts should be accelerated to improve and expand the silver economy to help achieve a virtuous cycle between economic development and improving people's livelihoods. The next 10 years or so, up to 2035, is an important "window period" for China to proactively address population aging.He pointed out that efforts will continue to improve the policy mechanisms for elderly care and the elderly care industry, promote the integrated development of the elderly care industry with related industries and sectors such as culture, tourism, health, sports, and housekeeping, enrich and expand the consumption fields and scenarios of elderly care services, and release the consumption potential for elderly care; continue to advance home modifications for the elderly, properly carry out the replacement of old consumer goods with new ones for home modifications, increase support for elderly meal services, and the purchase and rental of rehabilitation aids, and expand inclusive elderly care services.The upstream of the silver-haired health and elderly care-related industry includes pharmaceuticals and health supplements, as well as medical devices. The midstream consists of the health and elderly care service market, while the downstream includes basic social insurance and basic medical insurance financial products.Currently, there are three main business models in the domestic health and wellness industry. First, real estate developers and insurance companies are investing in and operating elderly care communities. Second, medical institutions and pharmaceutical companies related to the health and wellness industry are extending into the downstream elderly care field. Third, social capital is participating in the health and wellness service industry.Enterprises that have made early arrangements have clearly sensed the rising heat of the health and wellness industry.On March 12, Ping An Health announced its 2024 financial results, with an adjusted net profit of 158 million yuan, achieving a turnaround from losses to profits. Last year, Ping An Health expanded its multi-modal elderly care service system encompassing "home-based elderly care, travel-based elderly care, and institutional elderly care," which proved quite effective. Among these, the revenue from home-based elderly care services saw a year-on-year increase of 413.5%.The market for medical devices such as respiratory therapy equipment, rehabilitation aids, home health monitoring, and smart wearable devices is expected to continue thriving. Especially in the context of home-based elderly care, industries directly targeting the home health and elderly care consumer market, including pharmaceuticals, health supplements, and medical devices, will also experience robust growth.It is worth noting that in the era of the Internet, e-commerce channels have greater opportunities for selling medical products. During last year's Double Eleven period, JD Health saw comprehensive growth across various categories, including medical drugs, nutritional supplements, and medical devices. Products aimed at elderly consumers saw a 140% increase in transaction volume year-over-year; there was a significant rise in demand for health products such as medicines for lowering blood pressure, blood sugar, and cholesterol, electric wheelchairs, and fish oil. Additionally, assistive devices like mobility aids, commodes, hearing aids, and atrial fibrillation blood pressure monitors experienced a 100% increase in transaction volume, bringing more convenience to the lives of the elderly.According to the "Silver Economy十大机遇" report published by the EU in 2019, the total annual consumption of Europeans aged 65 and over exceeds 3 trillion euros. By 2025, the scale of the EU silver economy will reach 5.7 trillion euros, with the total contribution to the overall economy expected to reach 6.4 trillion euros, accounting for 32% of the EU's GDP. (Note: It seems there is a part missing in the original text, specifically "The Silver Economy十大机遇" which appears to be an incomplete phrase or title. I have translated it as it appeared, but it might need adjustment based on the full context.)In comparison, the current scale of China's silver economy is around 7 trillion yuan, accounting for approximately 6% of GDP. According to iResearch's "China's Health and Elderly Care Consumption Report for the Silver-haired Population," with the support of macro policies, it is estimated that by 2035, the scale of China's silver economy is expected to reach around 30 trillion yuan, showing tremendous potential.From the demand side, with the increase in the elderly population and the improvement in living standards and health awareness among residents, the health needs of China's silver-haired demographic will rise to a new level, leading to a major boom in related industries.

China's cardiovascular patients have surpassed 300 million, with over 10 million new cases each year. The urgent demand from this influx of patients has driven the market scale for implantable interventional devices to soar, growing from over 30 billion in 2016 to an estimated 100 billion by 2025. Hundreds of domestic companies are rushing in, making the market feel as crowded as the Beijing subway during rush hour.Despite the crowded seats, there is always someone who can sit down. Coronary artery bypass grafting, heart valve surgery, and neural interventions each have their own highlights and challenges.01Coronary stentFrom "tens of thousands of yuan" to the price of ordinary peopleBut the supporting equipment is still on the rise.The "price revolution" of domestic coronary stents is a milestone in China's medical reform. National enterprises represented by Lepu, MicroPort, and Jiwei have achieved a qualitative leap in domestic substitution through 20 years of technological breakthroughs. With centralized procurement, the price that used to be "ten thousand yuan" under the import monopoly has been slashed to a civilian price of 700 yuan, directly benefiting over 3.7 million patients. The cost of a single surgery has drastically decreased from 30,000 to 40,000 yuan to 13,000 yuan, and after insurance reimbursement, patients only need to pay about 6,000 to 7,000 yuan out of pocket, significantly reducing the financial burden on patients.But behind the victory lies the 'tree effect' of the industry chain. Although the body of the base unit has achieved a high domestic content rate of 95%, the downstream accessories such as the drive shaft, drive tube, and capsule are still trapped in the "low domestic content" problem, like a car that stalled in a gearbox of domestic factories. In high-end fields, companies like Daewoo and Hyundai control more than 80% of the market share, and doctors and surgeons in hospitals still rely on "invisible dependence" on foreign companies.To tackle core technologies, domestic companies are breaking through on two fronts: On one hand, they achieve overtaking by means of product technological innovation; on the other hand, they accelerate the layout of the entire industrial chain, comprehensively upgrading from material processes to intelligent production. This攻坚not only concerns corporate profits but also determines whether China can truly achieve self-reliance and control in the field of high-end medical manufacturing. As the legend of stent prices becomes a thing of the past, comprehensive breakthroughs in supporting systems will be an even more challenging test in the next decade.02‍Heart valveImport monopoly 90% market shareBut domestic black tech has emerged.The technological evolution of heart valves is divided into two main types: mechanical valves and bioprosthetic valves. The Starr-Edwards ball-cage mechanical valve, introduced in 1960, ushered in the era of valve replacement, but required patients to undergo lifelong anticoagulation therapy. The emergence of bovine pericardial bioprosthetic valves in 2002, with their 15-year lifespan and lower risk of thrombosis, became the mainstream choice. A truly disruptive breakthrough came with transcatheter intervention technology - in 2002, France performed the first transcatheter aortic valve replacement (TAVR), giving hope to high-risk patients who were unable to undergo open-chest surgery.The path of domestic catch-up is distinctive: the VitaFlow valve (self-expanding bovine pericardial bioprosthesis) independently developed by Shanghai MicroPort features a "skirt design for leak prevention." In clinical studies conducted in 2021, it demonstrated non-inferior performance compared to imported products. However, the core materials remain under the control of foreign entities; the polymer material selected by Edwards Lifesciences after 20 years of research still represents a technological barrier that China finds hard to overcome.Domestic cardiovascular medical devices may still be using high-performance bioplastic valves, even though imported valves are used in 90% of the market, but domestic valves are now priced at 2/3 of the imported ones.03‍NeurointerventionChina mines for gold in the "capillaries."still being swept by the windComparing to the "rich first, then the rest" of coronary stents, neural interventions more resemble "the last one drinking soup." International giants like Medtronic and Stryker, leveraging their financial strength (research capabilities + clinical education), have dominated for a long time, with core products like flow-directionality meshlike stents and thrombectomy catheters becoming de facto imported "exclusive skin." However, domestic players are not idle either; Willis Cover Mesh stents from the micro-medical field were globally first-to-launch, and Heart Radiance's thrombectomy stents reached a 5% market share within a year, with the pace of replacement accelerating.The piston ring is priced at 13,000 yuan from a 4,000-yuan brand, and then reduced to 3,000 yuan by foreign investment. The domestic brand is then sold at 100% of the original price to the people, and the performance of this is described as a "price war", with the quote being "we are actually fighting a price war".In the markets for sheaths, middle tubes, balloons, and other products such as Transbridge, Pumed森 (普微森), Cyano (赛诺), and Xinrui (心玮), domestic brands have nearly caught up with imported ones, with 11 out of 17 registration certificates coming from domestic products, and even high-end products like blood flow direction devices are starting to outperform imports.The quick-fix innovations of domestic cardiovascular product lines, whether through horizontal expansion (production line layout) or in-depth development (overall sales, profit margin), often involve "me too" or "me better" strategies. Consequently, these domestic medical device companies inevitably suffer from the same ailment as the up-and-coming heroes in martial arts novels: their techniques are fierce, but their inner strength still needs cultivation.Although alternative slogans are shouted loudly, many players who obtain certifications through OEM methods still abound.加之在 the background of centralized procurement, homogenized competition has gradually被淘汰. Upstream in the industrial chain, hidden champions such as Swiss EMS Group, Zeus, and Nordson continue to firmly control the supply of catheter materials. This scene is like a young cultivator who has just learned to fly with a sword looking up and seeing a group of Yuan Ying elders passing by overhead.04‍innovationBut a price war is not the cure.International giants are accustomed to simmering "old fire soup" with money and time, while domestic innovation resembles "pre-packaged fast food." The gap here cannot be bridged by simply sprinkling a bit more "financing seasoning." The SAPIEN 3 valve from Edwards Lifesciences has anti-calcification technology that comes from twenty years of consistent material selection; Boston Scientific's rotational catheter boasts a machining precision of 0.1 millimeters, backed by a hundred thousand hours of machine tool debugging experience.The current situation in the industry is that there is a market demand for laboratory equipment and sales environment, while the upstream materials and equipment are still blocked. Without breaking through the whole chain of lab equipment to the operating room, what is a domestic substitute is to take the air-conditioned hall.Compared to domestic alternatives in other industries, the medical device sector benefits from a 300 million-strong essential demand and strong policy support. If they focus on core materials, cutting-edge technologies like biodegradable stents, and avoid price wars, they could potentially evolve from "domestic substitutes" to "global solution providers." The challenge lies in when the upstream market for medical devices will produce a "Contemporary Amperex Technology Co. Limited (CATL)" equivalent.Innovation is the source of sustained profits for enterprises, but innovation is also a gamble. If one blindly pursues innovation without revolutionary iterations in upstream materials, relying solely on financing and the stories of large domestic markets, one might secure a ticket to the future, but when they will be thrown off the ship is uncertain. Domestic substitution cannot just stop at quantity; it must achieve a true full industrial chain replacement. Returning to that familiar saying, the time left for Chinese medical device companies may not be too much.

In 2025, the medical device industry is steadily embarking on a journey of continuous transformation and upgrading. This year, a series of significant changes are poised to unfold, signaling that the industry will enter a brand new stage of development. From innovations in payment models to upgrades in regulatory measures, and the deep exploration of value competition by enterprises, every change will profoundly impact the future direction of the medical device industry. Practitioners need to closely monitor these impending changes, seize opportunities, address challenges, and collectively promote the medical device industry towards higher quality and standards.1. Immediate settlement rolled out nationwide, "triangular debt" problem thawedThe collection cycle will see a substantial reduction by 2025. On January 16, the National Medical Security Administration issued the "Notice of the Office of the National Medical Security Administration on Promoting the Reform of Immediate Settlement of Basic Medical Insurance Funds," requiring that by 2025, around 80% of the coordinated regions nationwide basically achieve immediate settlement of basic medical insurance funds with designated medical institutions and pharmacies, and by 2026, all coordinated regions nationwide achieve immediate settlement of basic medical insurance funds with designated medical institutions and pharmacies.A total of 6 provinces and 76 coordinated regions have been included in the pilot list. The settlement time limit is no more than 20 working days from the day after the designated medical institutions' application deadline to the disbursement of the medical insurance fund.As of 5:00 PM on January 16, a total of 397 hospitals had settled 2,181 transactions in real time, with funds amounting to 71.97 million yuan; provinces such as Hebei, Zhejiang, Guizhou, Hainan, and Qinghai are also actively promoting this across the entire province.At the same time, direct settlement between medical insurance and enterprises is also rapidly expanding in the selected products of centralized procurement, with many regions including Fujian, Shandong, Jiangxi, and Guangxi having compressed the reimbursement cycle for pharmaceuticals and medical devices to within 30 days."Direct settlement of medical insurance + immediate settlement" working in tandem, coupled with the prepayment fund management system, greatly alleviates the financial pressure on hospitals, and the "triangular debt" issue among medical insurance, hospitals, and pharmaceutical companies is expected to be truly resolved.2.02 DRG/DIP old regulations abolished, new regulations implementedAccording to the National Medical Insurance Administration, by December 2024, 116 coordinated regions had already launched the 2.0 version of the grouping plan ahead of schedule, and the remaining coordinated regions have also completed preparatory work such as detailed grouping and data calculations, switching to the new grouping version on schedule at the beginning of January this year. By March 31 this year, all data working groups in the coordinated regions must be put into actual operation, and the data will be announced to medical institutions.At the same time, the operation of the medical insurance fund has become more transparent this year. On January 23, the National Medical Security Administration issued a notice on "Establishing a Medical Insurance Data Working Group to Better Empower the Development of Medical Institutions," requiring the data working group to "show their cards" to all designated medical institutions within the coordinated region. The data content includes the income and expenditure of the medical insurance fund, budget execution, DRG/DIP payment, settlement and clearance progress, etc. The data working group should publish the data monthly according to the national unified requirements, and those that do not yet have the conditions can publish quarterly.On January 27, the National Medical Security Administration issued the "Notice of the Office of the National Healthcare Security Administration on Issuing the Management Procedures for Payment by Disease (2025 Edition)", which came into effect from the date of issuance. The "Management Procedures for Payment by Diagnosis-Related Groups (DRG) (Trial)" (Medical Insurance Office [2021] No. 23) and the "Management Procedures for Payment by Disease Points (DIP) (Trial)" (Medical Insurance Office [2021] No. 27) were simultaneously abolished.The regulations clarify the improvement of the management of payment by disease under the "1+3+N" multi-level medical security system, and strengthen the coordination with medical service price reform, centralized bulk procurement, medical insurance catalog negotiation, commercial health insurance, and fund supervision. Promote the coordinated advancement of immediate settlement, direct settlement, and synchronous settlement. Strengthen the coordination and linkage with the high-quality development of public hospitals, the construction of closely-knit county-level medical consortia, and the promotion of mutual recognition of medical examinations and tests.Each coordinated region conducts review and evaluation based on the standards, procedures, review processes, and settlement methods for special case negotiations. The number of DRG special case negotiations should in principle not exceed 5% of the total DRG discharge cases in the coordinated region, and the number of DIP special case negotiations should in principle not exceed 5‰ of the total DIP discharge cases in the coordinated region.Special cases can be independently reported by medical institutions, conducted online or offline, on a quarterly or monthly basis, and reviewed and evaluated through a combination of intelligent review and expert review.3. Medical equipment updates implemented, market recoveryOn January 5, the National Development and Reform Commission and the Ministry of Finance issued a notice on "Expanding and Extending the Large-Scale Equipment Renewal and Consumer Goods Trade-in Policy by 2025." It clearly states to increase support for key equipment renewal projects. The scale of ultra-long-term special treasury bonds supporting key equipment renewal in important fields will be increased. On the basis of continuing to support equipment renewal in industries such as industrial, energy-consuming equipment, energy and power, transportation, logistics, environmental infrastructure, education, culture and tourism, medical, and old elevators, the scope of support will be further expanded to include electronic information, safety production, and facility agriculture, with a focus on supporting the application of high-end, intelligent, and green equipment.In addition, conduct in-depth assessments and diagnoses of existing equipment in industries such as industry, agriculture, energy, construction, transportation, education, culture and tourism, and healthcare, and clarify the objectives, tasks, and implementation plans for equipment updates in each sector and industry.As the large-scale equipment renewal policy continues to advance, the wave of medical equipment updates and iterations will gradually enter the implementation phase, and the relevant market is expected to recover. According to Zhongcheng Data, as of January 5th, the total budget amount for medical equipment renewal tender announcements disclosed in China has reached 8 billion yuan.Among them, county-level medical institutions may be one of the key focuses for recovery. According to the calculations by Yizhuang Shusheng, as of the end of September last year, the amount for equipment updates in county-level medical consortia that had entered the procurement intention stage accounted for about 22%, and the amount that had entered the bidding stage accounted for about 5.10%; for urban hospitals, the procurement intention was about 17.32%, and the bidding progress was about 4.59%.4. The fifth batch of national procurement was recently implemented, and the sixth batch of medical consumables national procurement will be launched in the second half of the year.Recent press conferences by the National Medical Insurance Administration have disclosed that in 2025, the medical insurance department will continue to deepen the centralized volume-based procurement of medicines and medical consumables. This includes the national level conducting the 11th batch of medicine procurement in the first half of the year and the 6th batch of high-value medical consumables procurement in the second half of the year. At the same time, it is expected that around 20 specialized national alliance procurements will be carried out at the local level, including traditional Chinese medicine, Chinese herbal decoctions, and high-value consumables.In addition, the fifth batch of national procurement is expected to implement the selected results for cochlear implants around March 3, 2025 (National Ear Care Day), and the selected results for peripheral vascular intervention consumables are planned to be implemented in May 2025.In terms of alliance centralized procurement, the national seven major medical consumables joint procurement (Jiangxi biochemical in vitro diagnostic reagents, Anhui tumor markers, Guangdong ultrasonic scalpel heads, Zhejiang breast rotary needles, Fujian vascular tissue closure ligation clips, Hebei vascular intervention, Henan coronary cutting balloons) will be implemented successively. Among them, the joint procurement of Henan coronary cutting balloons also carried out centralized maintenance work in December last year, and it is not far from official launch.5. "Compliance Guidelines for Pharmaceutical Companies" Released, Anti-Corruption in Healthcare Continues to DeepenAt the fourth plenary session of the 20th Central Commission for Discipline Inspection in January this year, it was emphasized to continuously punish corruption, strictly investigate corruption cases intertwined with political and economic issues, focus on systematic rectification in fields such as finance, state-owned enterprises, energy, fire control, tobacco, medicine, universities, sports, development zones, engineering construction, and bidding, strive to solve the difficulties in discovering, obtaining evidence, and determining the nature of new types of corruption and hidden corruption, seriously deal with the abuse of power, dereliction of duty, and improper decision-making that cause significant losses to state assets, resolutely investigate those who always drag officials into corruption and harm local areas, and increase the efforts in combating cross-border corruption.It can be foreseen that the pharmaceutical industry and bidding will remain key focuses of anti-corruption efforts this year.On January 14, the State Administration for Market Regulation issued the "Compliance Guidelines for Pharmaceutical Companies to Prevent Commercial Bribery Risks," consisting of 49 chapters across 4 sections. It covers nine scenarios of commercial bribery risks throughout the entire business, process, and chain in the pharmaceutical purchasing and sales sector, providing specific requirements and prohibitions for scenarios such as academic visits and exchanges, business receptions, discounts, rebates, and commissions, donations, sponsorships, and funding, as well as the free placement of medical equipment.Recently, the CCTV headquarters aired a TV special titled "Anti-Corruption for the People," which focused on reporting cases related to corruption in the pharmaceutical sector.The head of the Price and Procurement Department of the National Medical Security Administration, Ding Yilei, mentioned at a recent press conference of the National Medical Security Administration: "The inflated prices did not form corporate profits, were not used for quality, and were not used for the research and development of innovative drugs, but instead ended up in the hidden walls of the homes of corrupt officials as shown in the special documentary by the Central Commission for Discipline Inspection."6. Nationwide hospitals self-inspection and rectification starting from April with surprise inspectionsOn January 11, the National Medical Security Administration issued the "Notice of the National Medical Security Administration on Carrying out the Self-Inspection and Self-Correction Work for the Illegal Use of Medical Insurance Funds by Designated Medical Institutions in 2025," deciding to carry out the self-inspection and self-correction work for the illegal use of medical insurance funds by designated medical institutions nationwide in 2025. The subjects of self-inspection and self-correction include two types of entities: designated medical institutions and designated retail pharmacies. By the end of March 2025, all levels of medical security departments will organize all designated medical institutions and designated retail pharmacies within their jurisdictions to conduct self-inspections and self-corrections on the use of medical insurance funds from 2023 to 2024 based on localized problem lists.Starting from April 2025, the National Medical Insurance Administration will conduct flight inspections on the self-inspection and rectification status of designated medical institutions nationwide through the "four nos and two direct" method.7. Adjustment of medical service prices delves into service items and accelerates the "decoupling" from consumablesFor a long time, the prices of medical services have been managed locally by each province, with local pharmaceutical price authorities setting price items and determining price levels. There are significant differences in the number, content, and granularity of price items between regions. In some places, price items are even broken down according to operational procedures, increasing the billing burden on medical institutions. The public finds it difficult to understand, and this system is also unable to accommodate new technologies.In the second half of last year, the National Medical Insurance Administration made continuous moves in adjusting and managing medical service prices. According to observations, so far, the National Medical Insurance Administration has issued 20 guidelines for the establishment of medical service price projects.The National Medical Insurance Administration stated that it will continue to accelerate the preparation of project guidelines, aiming to complete the compilation of project guidelines covering most academic fields by the end of 2024, and basically finalize the top-level design for the standardization and normalization of national medical service prices. At the same time, it will guide all provinces to complete the对接落地by the third quarter of 2025. In addition, it will continuously guide local areas in trial operations for 2-3 years, and after revision and improvement, launch a new version of the national medical service price project standard directory at an appropriate time. Note: The phrase "对接落地" seems to be a specific term or concept that might not have a direct translation without more context. I've left it as is, but if you can provide more details or a preferred translation, I can adjust accordingly.8. Full implementation of traceability codes to bridge the "last mile" of supervisionCurrently, all over the country, designated medical institutions are accelerating the upload of traceability codes for medical insurance drugs and consumables. On September 30 this year, the National Medical Insurance Administration issued the "Announcement on Further Implementation of Information Collection for Traceability Codes of Medical Insurance Drugs and Consumables," proposing to comprehensively establish a three-code unification mapping library for traceability codes, medical insurance codes, and product codes, as well as a traceability mapping library for large, medium, and small packaging of drugs and consumables, and an identification library for various traceability codes, which will be freely available to designated medical institutions and production and circulation enterprises.The National Medical Insurance Administration has made it clear that in the future, it will continue to promote the application of drug and medical consumables traceability codes, so that every link from production, transportation to sales can be monitored and recorded in a timely manner. By utilizing big data analysis, problems can be identified promptly, sources traced, and measures taken, ensuring peace of mind for both enterprises and the public.After the application of drug and medical supplies traceability codes, the return flow, swapping, empty swiping, and counterfeiting in the circulation and retail stages will be thoroughly exposed to big data.9. Full-chain governance of consumables pricesOn January 8, 2025, at the national conference on medical prices and procurement, it was clearly stated that efforts should be deepened to manage medical prices, and the supervision and risk management of drug and medical supply prices should be institutionalized and normalized.The notice from the National Healthcare Security Administration and the National Health Commission on improving the centralized volume-based procurement and implementation work mechanism also explicitly mentioned that for situations where selected or non-selected medical consumables components are combined to form high-priced systems (sets) and used in large quantities, local healthcare security departments should remind medical institutions to standardize their procurement and usage.Currently, multiple provinces including Hubei, Shandong, Shaanxi, Gansu, and Jiangsu have listed products that have not been subject to time-limited price adjustments in the procurement platform's online directory as suspended from the online directory.Hubei proposes to regularly carry out centralized volume-based procurement of non-selected medical consumables and their price declarations, with monthly centralized announcements. Products that have been declared and maintained will be marked as "non-selected products" in the online catalog for medical institutions to purchase and use, while other products will be temporarily removed.National Medical Insurance Administration's Notice on Strengthening and Improving the Credit Evaluation of Medicine Prices and Procurement, it is necessary to reinforce the coordination and linkage between credit evaluation and price management. After determining the inflated price space of a discredited product in one province, other provinces should be promptly notified to pay attention.As the scope of centralized procurement and price regulation expands, the model of "one place lowers prices, the whole country follows" is accelerating, further squeezing out the inflated water in product prices across different regions.

If Beijing were personified, it would probably be an engineer wearing a black down jacket and a plaid shirt, who doesn't like to be in the spotlight, isn't good at promoting itself, and is even a bit wooden. But if you pull him down to have a chat, you will find that he has actually created world-leading products—only he never thought of speaking up about it himself.On March 20, 2025, it was announced at a press conference of the State Council Information Office that Beijing's pharmaceutical and healthcare industry had surpassed 1.06 trillion yuan in 2024, making it the first city in the country to reach the trillion-yuan level (note, not Shanghai, which is still over 900 billion). Logically, this is an achievement worth discussing, but for Beijing... such a significant piece of news was only briefly mentioned at a very late position during the Zhongguancun Forum press conference.Indeed, "doing it" is more important than "saying it." But as a medical technology media company grown in Beijing, Siyu MedTech, has decided to speak up for this "engineer" Beijing. Beijing's pharmaceutical and healthcare industry, quietly became the firstLet's look at a set of 2024 data - no PPT packaging, no promotional language, all real achievements:AI Class III Medical Devices: Nation's First, 11 Approved in BeijingInnovative medical devices: second in the country, 9 approved in Beijing.Breakthrough Innovative Drugs: Third in the Nation, Beijing has 9 included in the National Breakthrough Therapy Designation.Artificial intelligence medical devices: First in the country, 27 projects from Beijing are selected for the national list of key projects.Highly cited scientists in life sciences: first in the country, Beijing has 58 people, an increase of 20% from last year.What is this concept? It's like that quiet programmer by your side, who one day suddenly wrote an AI and casually won a global competition, and you didn't know until the award ceremony.More importantly, Beijing's pharmaceutical and healthcare industry did not rely on a short-term boom, but rather on decades of accumulation, step by step reaching the top position in the country. And before this, it had hardly ever spoken about itself proactively. Beijing's style: doesn't like being high-profile, but never idleIf you have been following the development of industries for a long time, you will find that the tone of Beijing is "do more, say less." Unlike some places that are accustomed to shouting out goals like "building an Asian medical technology center," Beijing is more like that engineer who buries himself in writing code, thinking to himself, "You can talk all you want; I'll just optimize this underlying architecture first."But this time, the data is right here—1.06 trillion, the highest among all cities nationwide. If Beijing was previously considered "potentially strong but not so prominent," it now stands at the forefront of the national pharmaceutical and healthcare industry.Policy promotion, faster technology transformation, Beijing's "approval efficiency" is much faster than beforeThese years have also seen a complete放开手脚, with quite a few optimizations made:It seems there's a part of the sentence that was intended to be in Chinese. The phrase "放开手脚" can be translated as "let loose" or "go all out." So, the full translation would be:These years have also seen us completely let loose, with quite a few optimizations made:Approval acceleration: The approval time for innovative drug clinical trials has been reduced from 60 days to 30 days, and the review time for supplementary applications has been shortened from 200 days to 60 days.Innovative drugs and medical devices enter hospitals faster: Beijing's "dual-channel" pilot institutions allow new drugs and medical devices to enter hospitals more quickly, rather than being stuck in paperwork for years.AI + medical data: The country's first pharmaceutical AI data training base has been established, and a green channel for data出境绿色通道 translation seems to be missing. Assuming it means "a fast-track for data export," the complete translation would be:AI + medical data: The country's first pharmaceutical AI data training base has been established, and a fast-track for data export is provided to foreign enterprises, promoting data compliance for companies like Bayer and Sanofi when exporting data.The idea behind these policies is simple: don't let RD teams and companies waste time on processes; time should be spent on technology and products. The engineers in Beijing are turning cutting-edge technology into reality.Beijing's industrial development is not driven by "industrial parks" but by genuine technological breakthroughs. Here are a few hardcore achievements that have already been realized:Brain-computer interface: "North Brain II" by Beijing Institute of Brain Science and Xinzhi Da, the world's first to achieve brain-controlled interception in non-human primates. Imagine, future medical devices might be controllable by thought.Gene editing: The large fragment DNA precise insertion technology developed by the Chinese Academy of Sciences has been selected as one of the seven major breakthrough technologies of the year by Nature, marking another step forward in precision medicine.Magnetoencephalography: The world's first wireless brain magnetic detection technology developed by the Peking University team has significantly improved the diagnostic accuracy of brain diseases.These are not "concepts," but things that have already been made. It's just the Beijing style... once they are done, they are placed there for you to discover on your own. The flow of capital does not lie, global pharmaceutical giants are flocking to BeijingYou can ignore the propaganda, but the flow of capital never lies. In the past year, global pharmaceutical giants have noticeably accelerated their investments in Beijing.Pfizer, Danaher, Huya Bioscience: First to Establish Innovation RD Center in Beijing.Lilly, Bayer, Merck: Establishing new innovation centers in Beijing to support the overseas expansion of domestically produced innovative drugs and medical devices.Sanofi: Invest 1 billion euros to build an insulin production base in Beijing, which is the largest single investment by this French pharmaceutical company in China.GE Healthcare: Beijing imaging equipment manufacturing base becomes the country's first "Lighthouse Factory".These companies are not here to "test the waters"; they have come to Beijing because the industrial chain, research capabilities, and market potential here are sufficient for them to place their bets. In the future, Beijing's goal is not just to be first.This time, Beijing's pharmaceutical and healthcare industry has taken the top position nationwide. But in its usual style, it will most likely remain silent and continue to focus on getting things done.Cell and gene therapy, brain-computer interfaces, and other cutting-edge fields will continue to accelerate, with many technologies potentially achieving clinical breakthroughs first in Beijing.Policy reforms will continue to advance, approvals will be further expedited, and the investment environment will be further optimized.International cooperation is upgrading, and in the future, there may be more foreign pharmaceutical companies setting up Asian RD centers in Beijing.Beijing remains that engineer in a black down jacket and checkered shirt, not actively seeking to assert its presence, but the leading advantages in technology and industry have begun to show on a global scale.So, this time, we must speak out for Beijing — welcome medical device companies to develop in Beijing!

Domestic substitution, in the development of medical devices in our country in recent years, this topic has remained a hot topic, and it is also a long-term strategic direction for many细分领域. 似乎最后一部分没有完全翻译。让我继续完成整个句子的翻译。Domestic substitution, in the development of medical devices in our country in recent years, this topic has remained a hot topic, and it is also a long-term strategic direction for many specialized fields, as well as an important focus for companies in formulating technology breakthrough routes and market layouts.After nearly 10 years of "golden" development, to what extent has the domestic production rate of medical devices in our country developed? Which equipment has achieved a breakthrough from 0 to 1, which sectors can already keep pace with foreign giants, and in which technological fields are we still striving to catch up? Perhaps from the following summary of data, we can glimpse the true progress of domestic substitution in medical devices.From "0" to "1", the Breakthrough List of Domestic Medical DevicesAs of 2024, under the 1170 secondary product categories in the Catalogue of Medical Device Classification (Note: excluding in vitro diagnostic reagents), the localization rate of product registration (with a localization rate of domestic products exceeding 75%) reached 67.01%, covering 784 secondary product categories. The number of secondary categories with a localization rate of product registration exceeding (including) 50% increased from 872 in 2020 to 1011 in 2024.Note: Product registration domestication rate = (Number of domestically registered products under the secondary category of the NMPA classification directory / (Number of domestically registered products + Number of foreign-registered products)) * 100%Table 1 Distribution of Domestic Production Rate Intervals for Secondary Product Categories of Medical Devices in China as of 2024Data source: High-end Medical Equipment Institute Data Center, Medical Device Innovation NetworkTable 2 Changes in the Number of Secondary Product Categories with a Domestic Registration Ratio ≥50%As of the end of 2024, among the 1170 secondary product categories in the Medical Device Classification Catalog, there are 30 secondary categories of products in our country that only have import product registration certificates, with no domestic products approved yet. This number has decreased by 37 from 2020. It is not difficult to see from the following data that the process of domestication of product registration in our country, from "0" to "1", is steadily advancing.Table 3 Number of Second-Level Category Products with Zero Domestic Registration Certificates in China from 2020 to 2024Data source: High-end Medical Equipment Institute Data Center, Medical Device Innovation NetworkFrom a specific field perspective, our country has six second-level category products that achieved a "zero" breakthrough in 2024.Table 4 List of Second-Level Categories for Domestic Breakthroughs Reaching "Zero" in 2024Data source: High-end Medical Equipment Institute Data Center, Medical Device Innovation NetworkFurther细分来看, in 2024, there were a total of 29 second-level categories of products in our country that only received 1 domestic product registration certificate. Note: "细分" is directly translated as "细分" here, but for a more natural English translation, it could be "Further breaking it down," or "Looking at it in more detail,". If you prefer a fully natural English expression, please let me know!Table 5 List of Secondary Categories with Only 1 Domestic Product Registration Certificate in 2024Data source: High-end Medical Equipment Institute Data Center, Medical Device Innovation NetworkThe products that have not yet achieved zero breakthrough are mainly concentrated in the fields of active implantation, radiation therapy, and medical imaging, among which implantable cardiac defibrillator lead wires are the most, with a total of 14 import registration certificates approved.Table 6 List of Second-Level Category Products with Zero Domestic Registration Certificates in Our Country as of 2024Data source: High-end Medical Device Institute Data Center, Medical Device Innovation NetworkThe path from 10% to 80% is full of hardships, and the breakthrough from 0 to 1% is even more difficult —— like a seedling growing in the crevice of a rock, it must break through the strata of technological blockade and also adapt to the storms of market testing. This is precisely a vivid portrayal of the development journey of domestic equipment.mature track, a market of billions increasingly dominated by domestic productsIn recent years, the process of domestic substitution for medical devices in our country has been accelerating, with policy support, technological breakthroughs, and market demand forming a resonance. As we all know, products that have been included in the national centralized volume-based procurement within the country are those with a high degree of domestication, such as cardiac stents, orthopedic sports, artificial lenses, and other high-value consumables, while low-value consumables, due to their lower entry barriers, have an even higher degree of domestication in our country.Low-value consumables: Dominating the market in maturity phaseLow-value consumables have a relatively low technical threshold, and domestic enterprises have already taken the dominant position. For example, the localization rate of products such as syringes, infusion sets, and medical dressings exceeds 90%. Taking Winner Medical as an example, its conventional medical consumables business still achieved a revenue growth of 17.3% in 2023 after excluding infection protection products, and it won bids for centralized procurement projects in multiple provinces, accelerating hospital penetration. This field has entered a mature stage, with market competition focusing on scale effects and cost control.High-value consumables: replacement rate exceeds 80%In high-value consumables, the domestic substitution rate for cardiac stents has reached 80%, and for hemoperfusion devices, it is as high as 90%. This achievement is due to the promotion of centralized procurement policies. For example, after the national coronary stent centralized procurement, domestic companies such as Lepu Medical and MicroPort Medical quickly captured the market through price advantages and technological iteration. In addition, domestic products have no significant difference in clinical outcomes compared to imported products, with a significant cost-performance advantage.丨Monitoring Equipment and Biochemical Diagnosis: Mid-range Market BreakthroughAccording to statistics, the domestic substitution rate of monitors in our country is about 70%, with companies such as Mindray Medical and Yuwell Medical expanding their market share through intelligent upgrades (such as remote monitoring, AI early warning). The domestic production rate of biochemical diagnostic reagents is 60%-70%, mainly benefiting from the cost advantages of domestic enterprises and the demand for tiered diagnosis and treatment policies.Charting: Medical Device Innovation NetworkApart from some products with higher maturity having a relatively high degree of domestication, there is still a large part of the medical equipment market share that needs to be improved. In recent years, with the iteration of innovative technologies and policy support, some medical equipment has shown a trend of breaking through.For example, high-end medical imaging equipment, according to statistics, the domestic substitution rate for CT, MRI, and other high-end medical imaging equipment is only 10%-20%, with foreign brands (such as GE, Siemens) still monopolizing the market in tertiary hospitals. However, companies like United Imaging Healthcare have achieved technological breakthroughs, with their PET-CT equipment capturing over 30% of the new market share domestically, and gradually entering the European and American markets.Once, the market share of foreign brands for angiography machines (DSA) exceeded 90%, but domestic companies like Neusoft Medical are now entering grassroots hospitals through cost-effectiveness and localized services, redistributing a market that has long been monopolized by international giants.Policy-driven, domestic substitution enters the "critical period"In 2023, the "Guiding Standards for the Review of Government Procurement of Imported Products" jointly issued by the Ministry of Finance and the Ministry of Industry and Information Technology set domestic procurement ratios for 178 types of medical devices, with 137 types requiring 100% domestic production, directly promoting a shift in procurement at tertiary hospitals. In 2023, the central government allocated 20 billion yuan to support equipment procurement at county-level hospitals, clearly stipulating a preference for domestic products. The inclination of procurement policies is also a major driver in accelerating domestic substitution.In addition, the normalization of centralized procurement is also accelerating the rise of domestic products, with categories such as cardiac stents and artificial joints seeing price reductions of over 80% through centralized procurement, forcing foreign capital to exit the mid-to-low-end market, and domestic enterprises taking the lead due to their cost advantages.At the same time, our country is continuously increasing its efforts to tackle the technology of core medical device components. In the Ministry of Science and Technology's key RD plan for the 14th Five-Year Plan, over 5 billion yuan has been invested in the medical equipment special project, supporting the development of critical components (such as CT tubes).The rapid development of medical devices is also inseparable from the improvement and efficiency enhancement of the approval process. In recent years, the special approval procedure for innovative medical devices has reduced the product launch cycle by 30%. In 2024, a total of 62 products were approved through this channel, an increase of 25% year-on-year.Going out to explore a broader global world has also become an important means for domestic development. Currently, our country is promoting the export of domestic equipment through the "Belt and Road" initiative, with medical equipment exports increasing by 18% year-on-year in 2023, and Southeast Asia becoming the main market.Currently, the domestic substitution of medical devices in our country has shifted from low-end consumables to high-end equipment. Policies, technology, and capital have formed a synergy. More encouragingly, we are seeing more and more products evolving from non-existence to existence, and from existence to strength, gradually writing their own stories of domestic brands.Over the next five years, the replacement of high-end equipment in tertiary hospitals, the localization of core components in the industrial chain, and globalization will become the three main themes. Companies need to focus on differentiated innovation based on clinical needs, while the policy side needs to continuously optimize the procurement environment and RD ecosystem to seize more market share under new opportunities.We will also conduct a detailed analysis of the domestication process of medical equipment in our country from the perspective of market share, so stay tuned.

The capricious tariff policies of the Trump administration are keeping the manufacturing sector on edge. Previously, we have extensively covered how the automotive industry and its supply chains in Mexico and Canada would respond if the tariff threats materialize. Among these, the potential impact on "industrial tourism" (i.e., the multiple cross-border transports of parts or components before final assembly into a vehicle) is particularly thorny – would taxes be levied each time goods cross the border? If so, car prices could skyrocket. Although the medical device industry has not received the same level of attention, several financial experts and business analysts point out that it is equally vulnerable to the broad impact of tariffs.The启示of the pandemic for the medical technology supply chainFirst, it must be acknowledged that the medical technology industry unexpectedly gained a lifeline from the COVID-19 pandemic. At the time, the sudden demand for personal protective equipment (PPE) exposed a serious lack of domestic production capacity in the United States (mainly relying on imports from China), which then sparked a wave of "reshoring" and "nearshoring." Medical device manufacturers, especially their suppliers, began to reconsider the relocation of some operations back to their home countries. Although the demand for PPE decreased in the later stages of the pandemic, with some temporarily converted facilities returning to their original businesses or closing down, the industry learned a profound lesson: the supply chain cannot be overly concentrated. Derron Stark, a partner at EY, told sister publication MD+DI: "Since 2020, many medical technology companies have enhanced their supply chain resilience by adding regional production bases, including within the United States, to mitigate the impact of tariffs."Annual cost may soar from $500 million to $63 billionThe report "US Tariff Industry Analysis" released by the professional services firm PwC points out that if tariff measures are fully implemented, the annual tariff costs for the pharmaceutical, life sciences, and medical device industries could surge from $500 million to nearly $63 billion. This forecast does not take into account the countermeasures of trading partners and changes in corporate behavior in response to policy adjustments. In addition, if a 25% tariff is imposed on the pharmaceutical industry, tariff revenue could increase by approximately $76 billion.The report further points out that due to the high dependence on overseas raw materials and manufacturing, the industry may face direct impacts such as a decline in profit margins, an increase in drug prices for American consumers, and supply chain disruptions. "Although the industry has long benefited from low tax rates or even tax-free policies, the Trump administration, in order to promote domestic production, is very likely to significantly increase tariffs."PwC points out that the way forward for U.S. multinational enterprises lies in modeling the impact of these trade policies on their business operations and supply chains. Specifically, companies should consider adjusting their operational strategies, including a comprehensive restructuring of the supply chain system, adopting alternative material sourcing strategies, re-planning manufacturing and intellectual property (IP) layouts, and exploring alternative logistics solutions.SMEs in distressThe CEO of management consulting firm Streamliners, Andreas Haag, told Medtech Dive that small and medium-sized enterprises are in a particularly difficult situation due to their lack of supply chain and pricing flexibility compared to large companies. "The current policy outlook is uncertain—will tariffs be long-lasting, or are they just being used as a negotiating tool?"This uncertainty itself is another shock to businesses—as is well known, business activities depend on predictability. Are tariffs a negotiating tactic of President Trump, or are they an "end in themselves" as some analysts believe? Trump has always firmly believed that tariffs are a necessary prerequisite for "making America great again." In this context, corporate planning is caught in a dilemma. John Babitt, EY's Global Health Technology Leader, frankly stated in an MD+DI article: "In the face of uncertainty and continuous change, companies are forced to shift their short-term strategies into medium-term plans, and even urgently activate strategies that were not previously considered. All of this is inherently unpredictable."EY's Stark points out that even in the face of challenges, the healthcare industry is still capable of attracting patients who need the corresponding products. ButThe core issue is: Who bears the cost? The company, the patient, or shared by both? This article is compiled by Specialized Plastics Vision, please indicate the source when reprinting. Original source: plastics today.

introductionIn recent years, China's medical device industry has experienced a transition from rapid growth to a rational adjustment period under the multiple drivers of policy, technology, and market demand. As the aging population deepens, medical needs upgrade, and policy regulation intensifies, the industry is shifting from an expansion in "quantity" to a breakthrough in "quality".Recently, while chatting with a few friends who are in the consumables agency business, they said, "Now, when going to bid, it's embarrassing to submit materials without a 'break-bone price' on the quotation." This statement sounds heart-wrenching but is also true - from 2020 until now, the turbulence in the medical device industry has been more intense than expected. The intertwining of three forces—accelerated aging, high-pressure policies, and technological iteration—has transformed this once "easy money-making" industry into an extreme competition.As a follower of the medical device industry, this article will analyze for you: What will the medical device market look like in 2025? The survival rules hidden behind the data may be more thought-provoking than the apparent fluctuations on the surface.Current Situation and Dilemma: Structural Adjustment Behind the Slowing GrowthSince 2020, the growth rate of China's medical device market has gradually declined to a low single digit. The market size (excluding tax) in 2024 is 484.7 billion yuan, a year-on-year decrease of 2.4%, mainly due to the shrinking demand for medical equipment and a significant decline in high-priced, low-value consumables. For example, the demand for traditional equipment products such as imaging equipment and ventilators is weak, with a year-on-year decrease of 12%; while vascular intervention consumables, driven by clinical necessity and technological iteration, still maintain a growth rate of over 9%.Policy has become a key variable in industry development. The coverage of volume-based procurement continues to expand, with the coverage rate of high-value consumables exceeding 70%, leading to significant pressure on product prices. Meanwhile, policies such as DRG/DIP payment reform and price linkage further compress the market space for low-value consumables and products with lower clinical necessity. Companies generally face the challenge of "volume and price dual decline" and urgently need to break through by innovation and efficiency improvement. Current Situation and Dilemma: Structural Adjustment Behind the Slowing GrowthDriven by factors such as an aging population, the demand for surgical and inpatient medical services will continue to grow in the future; due to the influence of policies and other comprehensive factors, the growth rate will slow down in 2024.Currently, the trend of population aging in China is evident, with the total number and proportion of the elderly population increasing year by year, leading to a significant rise in the demand for medical services.It is expected that 13 key events will impact the medical device market, consumables and service prices, market demand, and industry structure by 2025. Dynamics and Trends: Value Reconstruction Driven by InnovationDespite short-term pressure, the long-term growth logic of the industry remains clear. Three major trends are reshaping the market landscape:Upgrade and Extension of High-Value ConsumablesVolume-based procurement forces companies to shift from "trading volume for price" to "trading volume for innovation." For example, in the field of ophthalmology, bifocal and multifocal intraocular lenses are rapidly replacing monofocal products; in coronary artery surgeries, the penetration rate of innovative consumables such as drug-coated balloons and IVUS (intravascular ultrasound) continues to rise. It is estimated that by 2025, the market size of high-value consumables will grow by 2.1% year-on-year, with upgraded products and extended procedures becoming the main drivers.high-value consumables market size2. Intelligence and Domestic Substitution of Medical EquipmentSince the fourth quarter of 2024, many regions have launched centralized procurement of medical equipment, covering high-value categories such as CT, MR, and endoscopes. Policies clearly support the updating of high-end and intelligent devices, with domestic manufacturers accelerating the replacement of imported products due to their cost-effectiveness. At the same time, AI technology is deeply empowering medical equipment, for example, the integration of imaging diagnostic software and surgical robots, promoting the penetration of minimally invasive surgery into more departments.device market size3. Structural Differentiation of In Vitro Diagnostics (IVD)The IVD market presents a "tale of two extremes": traditional immunodetection is significantly impacted by centralized procurement, showing a year-on-year shrinkage in 2024; while molecular diagnostics and pathological tissue testing are maintaining high growth due to the surging demand for infectious disease control and early cancer screening. In the future, with the expansion of ICUs and the下沉 of医疗资源，请注意，最后一部分似乎没有完全转换为英文。完整的翻译应该是：The IVD market presents a "tale of two extremes": traditional immunodetection is significantly impacted by centralized procurement, showing a year-on-year shrinkage in 2024; while molecular diagnostics and pathological tissue testing are maintaining high growth due to the surging demand for infectious disease control and early cancer screening. In the future, with the expansion of ICUs and the decentralization of medical resources, point-of-care testing (POCT) may become a new growth point for primary healthcare.IVD market trendsWhile the demand for molecular diagnostics and pathological tissue diagnostics continues to rise, driving growth in niche markets. It is expected that by 2025, the growth rate of the central laboratory market will further decline under the influence of multiple policies; while the molecular market and pathological diagnosis market will maintain a steady growth rate.IVD细分市场趋势IVD submarket trends2025 Outlook: Demand Differentiation and Value BreakthroughPopulation aging remains the most certain growth engine for the industry. It is projected that by 2025, the proportion of people aged 65 and over will exceed 15%, driving a continuous increase in the demand for surgeries, chronic disease management, and more. However, policy regulation and payment reform will intensify market segmentation:Device market modest recovery: With the support of the "trade-in" policy, the demand for medical equipment may bottom out and rebound in 2025, and the need for updating CT, ultrasound, and other equipment in county hospitals and grassroots institutions will gradually be released.Innovation in consumables and technology leads growth: The market size of PCI (Percutaneous Coronary Intervention) consumables is expected to increase to 38.9 billion yuan by 2025, with products such as drug-eluting balloons and special balloons contributing the main increment; new technologies like surgical robots and AI-assisted diagnostic systems are accelerating commercialization.PCI market size change situationCompliance and常态化成本控制: Enterprises need to strengthen the full lifecycle management of products, achieving precise operations from RD, market entry to promotion, in order to cope with the pressure of reduced tender volumes and price declines. Note: "常态化" is typically translated as "normalization" or "regularization", but in this context, it seems to be emphasizing a continuous or regular state, so I've left it out for smoother English, assuming it's implied by the context. If you prefer a more literal translation, it could be "normalization of cost control".Future Value: Agile Innovation and Ecosystem SynergyIndustry competition has shifted from single product comparisons to systematic capability building. Leading companies build moats through strategic construction.current enterprise growth strategiesPrecision product line management: Expand penetration in mature fields through centralized procurement, while accelerating the launch of innovative products, such as targeted consumables for tumors and cardiovascular diseases;Ecosystem collaboration: Cooperating with AI companies and research institutions to develop intelligent solutions, such as DeepSeek and other AI technologies empowering image diagnosis and surgical planning, helping hospitals reduce costs and improve efficiency.The medical device industry in 2025 will be a year of both challenges and differentiation. Under the triple waves of policy regulation, technological innovation, and demand upgrades, only those enterprises that persist in innovation and deeply cultivate clinical value can navigate through the cycle.

Pharmaceutical packaging mainly refers to the packaging of drug formulations, that is, the packaging and containers that come into direct contact with the drugs. Pharmaceutical packaging is an indispensable part of drugs, running through the entire process of drug production, circulation, and use. Currently, the main packaging materials in the pharmaceutical industry include glass, plastic, rubber, metal, and other types. Among them, medical plastic packaging is made of synthetic or natural high molecular compounds as the basic components, which are molded during processing, and the products can maintain their shape. From the perspective of application fields, medical plastic packaging products can be divided into five major categories: composite films (bags), injection container and components, plastic bottles, tubes, boxes, and components (excluding ophthalmic preparation packaging), and other plastic packaging. From the perspective of raw material types, pharmaceutical plastic packaging products can be classified into PE, PP, PET, and other raw material types.As the aging process of our country's population accelerates and the national health awareness improves, the demand for medical services and pharmaceuticals continues to increase, driving the rapid rise of the pharmaceutical packaging market. Due to its advantages such as light weight, non-fragility, good barrier properties, and mature molding processes, plastic packaging has now developed into the largest sub-sector in the pharmaceutical packaging market. In 2023, the market size of China's pharmaceutical plastic packaging materials industry reached 49.356 billion yuan, accounting for 39.2% of the overall scale of the pharmaceutical packaging industry.In the future, as environmental regulations become increasingly stringent, the pharmaceutical plastic packaging industry will accelerate its transformation towards a green and environmentally friendly direction. The research and development, as well as the application of eco-friendly materials such as biodegradable materials and bio-based plastics, will become mainstream. The construction of recycling systems and plastic packaging recovery will also become a key focus for the future development of enterprises. In addition, with the rapid development of the pharmaceutical industry, especially in the fields of innovative drugs and biopharmaceuticals, the demand for high-end pharmaceutical packaging will significantly increase. Furthermore, to conserve resources and reduce costs, the trend towards lightweight pharmaceutical plastic packaging will become more evident. Through the application of new materials and improvements in processes, enterprises can ensure the strength and functionality of packaging while reducing the amount of raw materials used, achieving lightweight production.The upstream of the pharmaceutical plastic packaging industry mainly includes plastic raw materials such as polyethylene, polypropylene, polyester, polyvinyl fluoride, and polyvinylidene chloride, as well as other raw materials like adhesives, inks, protective coatings, and additives, and equipment manufacturing industries; the midstream is the production and manufacturing stage of pharmaceutical plastic packaging, including the manufacture of various packaging products such as plastic bottles, plastic bags, straws, bottle caps, ampoules, and medicinal films; the downstream is the application market, mainly comprising major domestic producers of chemical drugs, traditional Chinese medicine, and biopharmaceuticals.Due to the high requirements for technology and capital in the pharmaceutical packaging industry, the concentration of the industry in the international market is very high. Companies such as Amcor Group, with large business scale, high-tech content, and a rich product structure, occupy the main market share; while the domestic market is relatively more dispersed. However, with the improvement of environmental standards and the increasing demands from downstream pharmaceutical companies for research and development, testing levels, and independent innovation capabilities of pharmaceutical packaging material manufacturers, the competition among producers in China's pharmaceutical plastic packaging industry is gradually shifting from price competition to all-round competition in terms of technology, brand, and service. Some small and medium-sized enterprises that cannot adapt to the industry development trends will be eliminated, merged, or acquired, and the concentration of the industry will also gradually increase, with the brand advantages of leading companies becoming increasingly evident.

Material Innovation: Performance Breakthrough of PAEKPAEK (Polyaryletherketone) as the fourth-generation medical polymer material, achieves three core breakthroughs through unique molecular design:Biomechanical adaptability: 3-4 GPa elastic modulus forms a gradient match with cortical bone (3-30 GPa), effectively avoiding the stress shielding effect of metal implantsChemical stability: annual hydrolysis rate 0.1%, passed the full set of biocompatibility certification according to ISO 10993-1Imaging compatibility: X-ray transmittance 90%, CT value 110-130 HU close to soft tissue, MRI without artifact interferenceII. Material System: Molecular Structure Determines Performance DifferencesPAEK family main members technical parameters comparison:III. Clinical Application: From Substitute to Functional TherapyOrthopedic innovationSpinal fusion: PEEK interbody fusion device 5-year reoperation rate reduced by 36% compared to titanium alloyJoint replacement: PEKK acetabular cup with ceramic femoral head has a wear rate as low as 0.03 mm³/million cyclesTrauma repair: PAEK/HA composite material bone bonding strength reaches 25 MPa (FDA standard 15 MPa)precision medicine3D printed cranial repair: gradient pore structure (500-800μm) reduces infection rate by 74%Degradable system: PAEK-g-PLLA bone nail completely degrades within 2 years, with strength maintained for 6-8 monthsminimally invasive technologySurgical instruments: PAEK blend material reduces the weight of the Da Vinci surgical forceps by 57%, with precision improved to 0.1mmNeurointervention: PAEK embolization coil MRI visibility is 3 times higher than platinum alloyIV. Industry Structure: A Trillion-Yuan Market Driven by Technologyglobal situation2023 year market size 14.2 billion USD, 2024-2030 CAGR 9.8%North America accounts for 42% of the share, with an annual growth rate of 15% in the Asia-Pacific region, and China becomes the largest incremental market.domestic breakthroughPaiwo achieves full industry chain technology breakthrough:molecular weight control accuracy reaches ±5%impurity content 50ppmpilot scale yield 92%Domestic PEKK price is 40-60% lower than imported, with production capacity exceeding 80 tons/yearV. Technical Challenges and Innovation Pathwayskey bottleneckRaw material end: Arkema monopolizes 92% of the medical-grade resin marketDevice end: The unit price of imported laser sintering equipment exceeds 2 million US dollarsClinical end: 60% of physicians are concerned about long-term safetyfuture directionMaterial Design: AI Predicts Interfacial Energy, Developing Biomimetic Mineralized CompositesManufacturing Technology: 4D Printing Achieves Body Temperature Responsive DeformationEmerging applications: drug delivery devices, neural repair scaffolds, etc.Appendix: Glossary of Terms 

In recent years, while the medical aesthetics industry has been rapidly developing, it has also undergone profound changes and transformations. With the improvement of the regulatory system and the enhancement of consumer awareness, medical aesthetics is gradually returning to a serious medical practice, with safety and compliance becoming the core keywords for industry development. According to the "2024 Medical Aesthetics Consumer Research White Paper" produced by Meibei Platform's Medical Aesthetics Slow Talk, when choosing medical aesthetics projects, consumers are most concerned about safety, long-lasting effects, and noticeable changes, while the qualifications and experience of institutions and doctors have also become important factors in decision-making.In addition, one of the new characteristics presented by the medical aesthetics industry is the polarization trend in consumer budgets. High-end consumers pursue high-quality anti-aging and regenerative medicine projects, while mass consumers prefer light medical aesthetics projects, driving diversified market development. Moreover, the increase in demand for restorative medical aesthetics, the rise of male medical aesthetics, and the compliant application of regenerative materials have also become new trends in the industry's development. These changes not only reflect the complexity and diversity of the medical aesthetics market but also point to the direction of refined and specialized development for the future of the industry.Trend One: Security and Compliance Requirements Continuously Upgrade'Medical aesthetics returning to serious medical practice' has been the major trend in the medical aesthetics industry in recent years.As the regulatory system continues to improve and the maturity of the medical aesthetics market gradually increases, more and more consumers are beginning to recognize that 'medical aesthetics is a medical practice,' showing a more cautious trend in terms of consumer awareness and behavior. The 2024 Medical Aesthetics Consumer Research White Paper produced by Medical Aesthetics Slow Talk shows that among the concerns consumers have when making decisions, 'the industry is not standardized (hospitals, doctors, equipment, materials), and there may be risks/side effects' and 'due to various reasons such as equipment/materials/doctors, the results of medical aesthetics may not be ideal' rank in the top two positions.Specifically, when beauty seekers choose medical aesthetics projects or categories, the most concerning factors are 'project technical safety, whether there are risks and side effects', 'effect durability', and 'whether the changes before and after the project are significant'. When choosing a medical aesthetics brand, 'safety' is the most important consideration, followed by 'stable effect', 'minor side effects', and 'natural effect', etc.Image source: screenshot of the article from Aesthetic Medicine Slow TalkUnder the consumer consensus of 'safety is more important than beauty,' the future of the medical aesthetics industry will not only focus on refined and personalized services, but more importantly, on establishing a 'safety loop' throughout the entire process.In addition to the safety and compliance requirements for medical aesthetics projects, categories, and brands, the demands of beauty seekers on institutions and doctors are more comprehensive. The data from the aforementioned white paper shows that the main concerns of beauty seekers when choosing an institution are 'better qualifications and experience of the institution's personnel', 'compliance of the institution’s qualifications', and 'whether the institution has proper equipment'. The main concerns when choosing a doctor are 'doctor’s compliance with qualifications and rich experience', 'the doctor is professional, approachable, and communicates well on-site', and 'the doctor has a good reputation'.Image source: screenshot from Aesthetic Medicine TalksFrom the past's reckless growth to the rational return of 'medical aesthetics returning to medicine', the perception of medical aesthetics among beauty seekers has further transformed from a simple beautification act into a scientific and professional medical practice.Trend Two: Polarization of Medical Aesthetics Consumption BudgetThe "2024 Medical Aesthetics Consumer Population Research White Paper" released by Medical Beauty Slow Talk shows that the budget for medical aesthetics consumption is showing a trend of polarization. Compared to the actual consumption of users in 2024, the overall users (including potential users) in 2025 have seen an increase in the polarization phenomenon of medical aesthetics budgets, with more people planning to spend either less than 10,000 yuan or more than 50,000 yuan.If the 2025 medical aesthetics budget planned by respondents in the survey can be realized, compared to the actual spending of beauty seekers in 2024, the spending in 2025 will increase by 22.2%, and potential users will also generate 39.2% of the costs, truly becoming new consumption users from zero to one.High-end consumers have a higher budget for medical aesthetics projects, especially with the continuous growth in demand for high-end anti-aging and regenerative medicine projects. These consumers place more emphasis on safety and effectiveness and are willing to pay a premium for high-quality medical aesthetic services.On the other hand, light medical aesthetics projects (such as injection beauty, phototherapy, etc.) have attracted a large number of budget-limited consumers due to their low risk, low price, and convenience. These consumers tend to choose relatively lower-priced projects with shorter recovery periods, such as hyaluronic acid injections and photo rejuvenation, driving the rapid expansion of the mass market.The polarization of budgets among medical aesthetics consumers reflects the diversity and complexity of the market. High-end consumers pursue high-quality, personalized services, while mass consumers place more emphasis on cost-effectiveness and convenience. This differentiation not only promotes the diversified development of the medical aesthetics market but also imposes higher demands on the service models and pricing strategies of medical aesthetics institutions.Trend Three: Increase in Demand for Restorative Medical AestheticsDue to the previous unchecked growth of the medical aesthetics industry and the limited ability of consumers to discern and understand medical aesthetics services, some consumers still suffer from ineffective or even harmful medical aesthetics due to past "impulsive consumption." The "aftereffects" of these medical aesthetics services have driven an increase in the demand for restorative medical aesthetics.Taking the relatively concentrated 'mantou-ization' phenomenon as an example, Huang Xiangping, partner and Chief Marketing Officer (CMO) of Meibei Medical Aesthetics Platform, told NBD that 'mantou-ization repair' is a byproduct of the rapid development of the medical aesthetics industry and also an opportunity for market self-correction. The surge in repair demand is actually due to early non-standard operations (imprecise dosage and techniques), non-standard injection materials, and consumers' aesthetic deviations leading to blind pursuit of excessive filling. These accumulated complications have started to burst out in recent years, so people can feel that the demand for mantou-ization repair is increasing.Based on the comprehensive data from Meibei transactions and information obtained through communication with institutions, 'restoration' users are mainly concentrated in first- and second-tier cities, aged between 25 and 35. These users generally have had multiple experiences with minor medical aesthetic injections; a small portion are planning to try medical aesthetic injections but have learned about related negative information through various social channels, so they come for consultation in advance.Huang Xiangping also mentioned that hyaluronic acid itself can be absorbed by the human body. The reason for the occurrence of 'doughiness' is generally due to excessive injection, improper technique, or substandard product quality, such as an excess of cross-linking agents. As long as everyone chooses a legitimate institution, qualified doctors, and certified products, and selects a reasonable injection plan based on their own circumstances, they can largely avoid the 'doughiness' phenomenon. Injecting dissolving enzymes is one way to address the 'doughiness' caused by hyaluronic acid injections, but it cannot completely meet the repair needs of beauty seekers. The postoperative solutions for 'doughiness' are diverse and require professional doctors to assess the specific situation of the beauty seeker and formulate a repair plan.Trend Four: Male Aesthetic Medicine Consumption Continues to IncreaseAccording to Deloitte's "2024 Insight Report on China's Medical Aesthetics Industry," male investment in medical aesthetics continues to grow, with an annual growth rate exceeding 20%. Moreover, male consumers are becoming increasingly willing to try more medical aesthetic procedures.In addition to the increase in the number of consumers, male aesthetics also covers all age groups. It is understood that many '00s with spending power have joined the 'refined boy army', preferring light aesthetic treatments such as photorejuvenation and hyaluronic acid injections to maintain a youthful appearance; while men over 30 in the workplace are enthusiastic about hair loss prevention or hair transplant projects.What is even more unexpected to the outside world is that the average transaction value for male medical aesthetics is higher than that for females. Data from iiMedia Research shows that the average transaction value for male consumers of beauty treatments is 2.75 times that of females.Among them, as one of the most important sub-sectors, hair loss prevention (including hair transplantation) has become a necessity. In response to the issues of hair scarcity and thinning, the market has seen the emergence of innovative companies such as Yonghe Medical, Biliansheng, and Damai Micro-Needle Hair Transplantation. To expand the market, hair transplantation institutions are continuously broadening their business scope, providing comprehensive services including hair care, hair transplantation, and aesthetic design, in order to meet the diverse needs of consumers through diversified services.Additionally, since men often have more active oil secretion in their skin compared to women, coupled with neglect in daily skincare, men are more prone to issues such as imbalanced skin hydration and oil, acne, and acne marks. Therefore, acne removal and spot treatment have become essential choices for many men.Trend Five: Medical Aesthetics New Materials Moving Towards ComplianceIn recent years, the new materials that have attracted much market attention mainly refer to regenerative materials in the light medical aesthetics field. The Insight Report on New Trends in Appearance Consumption shows that the market size of non-surgical medical aesthetics in China is expected to reach 204.6 billion yuan this year. For the industry, the light medical aesthetics market, with its wide audience, low threshold, and high repurchase rate, has become the main area of market growth.Unlike traditional filler materials, regenerative materials achieve natural rejuvenation of the face by activating the body's own collagen regeneration mechanism. Their concept of 'natural beauty' and characteristics of safety and long-lasting effects are highly aligned with the demands of beauty seekers, thus gaining significant market favor. At the same time, the traditional hyaluronic acid and botulinum toxin markets have become a 'red ocean,' with intense competition and compressed corporate profits.The rise of regenerative materials is essentially the result of both consumption upgrade and industry transformation, bringing unprecedented development opportunities to China's regenerative medical aesthetics market. According to a research report by Donghai Securities, the compound growth rate of the regenerative materials market is expected to reach 31.2% from 2025 to 2027. At this growth rate, the market size is expected to exceed 11.52 billion yuan by 2027.In the current field of regenerative medical beauty products, the core of competition lies in obtaining official approval and certification. Whoever acquires the relevant qualifications first can gain a head start in the market. However, more importantly, compliance is the cornerstone for enterprises to establish themselves in the market. Regulatory authorities are strengthening the approval and supervision of regenerative materials to ensure the safety and efficacy of the products.Since 2021, multiple regenerative products including East China Medicine's少女针 (CMC+PCL), Changchun Sinobiomaterials'童颜针 (PLLA), and Imeik's濡白天使 (PLLA+HA) have been successively approved. Around early 2025, even more new medical aesthetics regenerative materials have made new progress. Note: The terms "少女针", "童颜针", and "濡白天使" are brand names and thus kept in their original form. If you would like them to be literally translated, please let me know.