Since the government put forward the concept of high-quality development, the development of China’s medical device industry in recent years has been closely centered on innovation. As an important industry related to people’s life and health, innovation is not only an inevitable need for the medical device industry to enhance its international competitiveness, but also coincides with the industry’s pursuit of the driving force for development.
Innovation presents new technologies, such as digitalization, AI, and IoT(Internet of Things). It brings new application scenarios, such as telemedicine and home-based healthcare. In addition, it also includes new materials, designs, and channels. These five perspectives merge to come up with new solutions, which is perhaps the source of innovative thinking in the healthcare industry.
Driven by innovation incubation and favorable policies, China’s medical device industry has ushered in a high boom in development, with a compound market growth rate of approximately 17.5% over the past seven years, and has gradually become the second largest market after the United States.
In such an environment, BD has also been growing at a high rate in China for many consecutive years. Known as world-leading medical tech company, BD is always on the cutting edge of advancing new technologies to advance the future of healthcare. Our innovation pipeline plays a significant role in our growth and has positioned us well for the future as we continue to provide transformative solutions for patients and healthcare practitioners.
This year, BD will attend CIIE for the 4th time, which is known as a global stage for innovative products and a bridge for the international community to further strengthen win-win cooperation. We will bring more than 10 debut solutions and nearly 100 innovative products, including Matecyte™, Liverty™,PowerMe™, GlidePath™, UltraCor™Twirl™ Breast Tissue Marker, PUREWICK® female External Catheter, Avitene™, and BD Libertas™ Wearable Injectior to our booth, and look forward to taking advantage of the 6th CIIE to introduce more innovative solutions to benefit more Chinese patients.
With the strategy of “In China, For China”, we are committed to supporting China’s healthcare technology industry development. Since entering China in 1994, BD has delivered hundreds of thousands of innovative products that address the evolving needs of Chinese patients.
witnessed the remarkable achievements of China’s reform and opening-up and the upgrading of healthcare industry. There is no doubt that China has been on the road of high-level opening-up and facilitating the development of foreign enterprises, especially since 2022, the government has introduced various policies to encourage foreign investment. Not only opened up the market, but China has also pointed out the direction for foreign companies to develop better, which is exciting and motivating.
As a witness and participant in China’s reform, opening-up and high-quality development, BD is delighted to see the business environment in China is constantly optimizing, China’s economy, which is resilient, promising and dynamic, will continue to play the role of “engine” and make positive contributions to the global economic growth. Meanwhile, a better business environment will certainly attract first-class enterprises and talents, activate the first power of innovation, and further promote high-level opening-up and eventurelly realize high-quality development. Therefore, BD is accelerating our expansion in China with great confidence since China is one of the most important markets for us, we expect more potential opportunities here.
For multinational medical tech enterprises, seizing the opportunity in the Chinese market means meeting the market demand quickly. BD has gained insights into China’s unmet demand for healthcare of huge population base. BD has made significant investments in China to produce world-class medical devices locally. We believe it is important to enable local R&D and manufacturing to ensure the right products are available to serve China’s growing demand for new medical technologies and ensure a robust and resilient supply chain to serve customers and patients. Therefore, we are constantly carrying out the strategic layout of localization of imported products, not only to do localization but also to accelerate localized innovation.
BD has gained a lot of valuable experience in practice. Currently, our partnerships with domestic companies usually start with commercial cooperation and eventually turn into innovative collaborations in R&D. BD’s R&D achievements in China are not only utilized in China, but also promoted globally. For example, when Liverty™ program was initially launched in China, the U.S. team was not involved, but with the global interconnectivity and knowledge of each other’s R&D products and technologies, the U.S. team found that there was a corresponding market demand during the project’s advancement, so they joined in as well. This product launched by the Chinese R&D team is not a “China-only” product but is fully capable of meeting the needs of different markets around the world at the same time. In China, BD’s development is accelerated not only by importing but also by exporting.
In July, our BD Greater China Innovation Center(GCIC) was unveiled in Hangzhou, Zhejiang province, marking another milestone for our China footprint. Together with our innovative design center and multifunctional laboratory in Shanghai and laboratory project center in Suzhou, Jiangsu province, all the facilities will work together to further empower BD and our partners’ R&D capability and accelerate localized innovation. Improving the synergy among our operation facilities in Shanghai, Jiangsu Province (where three factories at) and Zhejiang Province (where GCIC locates) is a testament to our positive response to the Chinese government’s strategy of Yangtze River delta regional integration development, and our commitment to supporting Shanghai to build as the health, science, and technology innovation center in east region of China with strong global impact by 2030.
As the president of the Medical Equipment Committee of CIIE , we lead the effort to set up the Innovation Incubation Special Section(Medical Equipment) of CIIE since 2021, bringing together government, investors and industry to help global medical technology innovators take root in China. We aim at building a world-class exhibition and trading platform for medical technology innovation, and then forming a high-level medical innovation market in the new era to help promote the construction of a healthy China for the benefit of more patients.
In the future, BD will fullfill the commitment to the Chinese market following an “In China, For China” approach. We expect to join hands with more partners to support the high-quality development of China’s medical device industry through localised innovation, and to bring more convenient and high-quality healthcare services and innovative solutions to the Chinese market, benefiting more Chinese patients.
I hope that BD could make broader impact, contributing to the leading innovation ecosystem in China and the world.