Only two companies are among the top 100 in the world. Where is the gap between Chinese medical devices and global giants?

18.09.2022

Number of this text: 2066, reading time for about 4 minutes

Introduction: my country's medical device industry chain still has problems such as low -end production capacity and waste of production resources, and there is a gap with the world's advanced level.

Author | First Financial Money Children's Heart

Recently, in 2022, the top 100 global medical device list was announced. In accordance with the annual revenue ranking, Global Medical Device Giants Midunli, Johnson & Johnson, and Siemens Medical ranked the top three, while China ’s Mai Rui Medical and Minimally Invasive Medicine ranked 32nd and 77th. The only two Chinese companies in the list of the top 100 medical weapons reflect that there is still a gap between my country's medical device industry as a whole and the top international level.

Li Xiting, chairman of Mai Rui Medical, mentioned the development of domestic medical devices in a recent media interview: "Our revenue is about 8 times the gap compared with Midunli, the world's largest medical device company."

There is still a gap in revenue and profits

According to the latest 2022 fiscal year revenue, Midunlin's 2022 fiscal year revenue in the top 100 medical device companies in the world is US $ 31.686 billion, while Mindui's revenue is about 25.27 billion yuan.

In recent years, with the continuous rise in market demand and the continuous optimization of the policy environment, the scale of my country's medical device industry has continued to expand. According to the statistics of the "Blue Book 2021 of the Chinese Medical Device Industry", from 2016 to 2021, the market size of the Chinese medical device industry has shown an increase year by year, reaching a scale of nearly trillion yuan in 2021, an increase of more than 20%year -on -year.

However, my country's medical device industry chain still has problems such as low -end production capacity and waste of production resources, and there is also a gap with the world's advanced level.

Cui Xiaobo, general managing director of the medical industry medical industry medical industry, told the first financial reporter: "At first domestic factories were engaged in the production of some relatively low -end medical equipment products. Manufacturers have also begun to develop high -end medical device products, but core components still rely on the import supply chain, such as the ball pipes, detectors and other components of CT devices. The company has no bargaining power, so it has lost money for years. "

Cui Xiaobo said that although some head local medical device manufacturers are now based on some core components and refer to some independent research and development of foreign companies, it is one thing to assemble medical equipment. thing. "Especially for the settings of some parameters, because international brands have a lot of experience in the early period of overseas or other markets to get China, I think there is still a certain gap in this part." He said to the First Financial reporter Essence

Last month, the domestic medical equipment giant enterprise with a market value of over 100 billion yuan was listed on Lianying Medical. Although the current value of 140 billion yuan has exceeded Philips, it is not difficult to find that after analyzing Lianying's financial data, Lianying's profits are significantly lower than foreign counterparts. From the perspective of profit margins, there is still a long distance from high -end manufacturing. The road is going. In 2020 and 2021, Lianying's net profit was 937 million yuan and 1.404 billion yuan, respectively. In contrast, Siemens Medical's pre -tax profit in the first quarter of 2022 reached about $ 1 billion.

The scarcity of high -quality innovation standard

From the perspective of the development path of global giants, acquisitions and acquisitions are the only way for the company to make big development. Large -scale medical device companies' independent R & D production accounts for 40%, and 60%depend on acquisition. This is mainly because in Europe and the United States, a large number of small medical device companies have focused on cutting -edge technologies in certain fields for decades. Once they have developed good technology and products, they will be acquired by large companies. Essence

Judging from the development path of Mimiri, it is also hoping to copy the successful experience of overseas giants and use a large number of overseas companies to form an ecological chain.

In Li Xiting's view, medical equipment is a multidisciplinary industry. Therefore, the "platform" medical device company has an advantage to integrate raw materials and devices of various links on the industrial chain. For example, the important acquisitions of Mindray's more than a decade include the monitoring business of patients Zonare Medical Systems and DataScope. These technologies have become the core of the development of Mindray Medical Devices.

However, as China's overseas acquisition faces stricter review, especially in the core technology acquisition facing challenges, domestic medical device companies may be unsustainable in the "buying and buying" model overseas, and domestic medical device startups distance The gap between international advanced levels is even greater.

"In China, many small medical device companies have waited for listing before they have not mature commercial products. After listing, investors' pressure is forced. Some companies will no longer invest in innovation in order to ensure profits. This is It is difficult for China to have global leaders in some cutting -edge fields. "An industry person told the first financial reporter.

In recent years, the country has also introduced a series of policies to encourage domestic medical device companies to accelerate innovation and become bigger and stronger. For example, recently, the National Medical Insurance Administration's "Answer to the National Medical Security Bureau on No. 4955 Suggestion No. 4955 of the Thirteenth National People's Congress No. 4955" clearly stated that "innovative medical devices are not incorporated into the collection", and it is necessary to collect the collection of collection. Leave out a certain market to provide space for innovative products to develop markets. However, from the perspective of the industry, there are still many details waiting for these policies to be truly implemented. For example, how long the period for free to avoid the collection of innovative medical devices and what is the allowable market capacity. Affected by the collection, minimally invasive medical care has lost more than 250 million US dollars in the first half of the year. Although the company still ranks among the top 100 medical equipment in the world with its revenue, the profit loss is huge.

In response to the question of how Chinese medical device companies break through, Weng Yulin, the founder and CEO of Dingke Medical and CEO, told the First Financial Reporter: "In the future, the innovative medical device company can focus on the two major development directions. ; The other is the innovation and improvement ability of global patent. "Just last week, a coronary trace dilatation catheter of Dingke Medical was approved for listing by NMPA.

Jiang Tengfei, a consulting agency, believes that in recent years, in terms of professional surgical equipment, a number of domestic brands with independent intellectual property rights have emerged, such as laposcular/orthopedic surgical robots. How these companies develop in the future. For example, the first domestic four -arm laparoscopic robotic Rotimo, which was independently developed by minimally invasive medical care, has been approved by NMPA.

"In terms of surgical robots, Chinese enterprises can combine the advantages of the local market and play their innovative capabilities in integrating AI intelligence." Jiang Tengfei told First Financial reporter.

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