On December 28, 2021, the website of the Ministry of industry and information technology showed that 10 departments, including the Ministry of industry and information technology, the National Health Commission, the national development and Reform Commission, the Ministry of science and technology, the Ministry of finance, the SASAC of the State Council, the State Administration of market supervision, the State Medical Insurance Bureau, the State Administration of traditional Chinese medicine and the State Food and drug administration, jointly issued the medical equipment industry development plan during the 14th five year plan (hereinafter referred to as the plan). It is understood that this is the first national industrial development plan in the field of medical equipment.
The plan proposes that by 2025, the level of advanced medical equipment industry foundation and industrial chain modernization will be significantly improved, the mainstream medical equipment will basically be effectively supplied, the performance and quality of high-end medical equipment products will be significantly improved, and the comprehensive support capacity for public health and medical health needs will be initially formed; By 2035, the R & D, manufacturing and application of medical equipment will reach the world advanced level.
The plan focuses on seven key areas, deploys five key tasks, implements five special actions, and takes six safeguard measures. The seven key areas include diagnostic and testing equipment, treatment equipment, monitoring and life support equipment, traditional Chinese medicine diagnosis and treatment equipment, maternal and child health equipment, health care and rehabilitation equipment, and active implant intervention equipment; The five key tasks are to promote cross-border integration and enhance innovation ability; Strengthen the cooperation between doctors and workers and improve the effective supply capacity; Strengthen brand building and enhance international competitiveness; Cultivate new models and new business formats, and improve the all-round service ability; Optimize industrial ecology and improve basic support capacity. Five special actions in order to ensure the smooth progress of the task, a special action is set up for each key task: action to tackle key industrial problems, action to improve the supply capacity of key medical equipment, action to build high-end medical equipment application demonstration base, action to improve the emergency medical rescue capacity, and action to improve the medical equipment industry and application standard system. The six safeguard measures include innovating support mode, Promoting Popularization and application, strengthening talent cultivation, strengthening intellectual property protection, deepening development cooperation and strengthening organizational coordination.
Southwest Securities Co.Ltd(600369) in the research report, it is pointed out that under the promotion idea of "7556", domestic equipment leaders are expected to benefit. With the gradual realization of the goal, the position of domestic device enterprises in the global industrial division and value chain will be greatly improved. It is expected that 6-8 enterprises will rank among the top 50 in the global medical device industry in 2025. Citic Securities Company Limited(600030) the research report also said that the implementation of the plan will support the development of medical equipment industry in multiple fields and all stages, support the development of medical equipment industry from top-level design, and is expected to accelerate the emergence of enterprises with real product innovation ability.
Xu Jiarui, deputy general manager of Zhongcheng medical equipment and researcher of the medical equipment special committee of Guangzhou biological industry alliance, told the Securities Daily that the medical equipment industry is a knowledge intensive industry with the cross integration of modern manufacturing technology, new generation information technology, modern material technology, Frontier Biotechnologies Inc(688221) technology and other high-tech fields, and has become one of the fastest growing industries in China in recent years, At present, it is undergoing great changes.
On the one hand, with policy support, the industry entry threshold has been optimized to attract more cross-border enterprises to enter the field of medical devices; On the other hand, the medical device consumer market has ushered in a comprehensive outbreak. With the aging of China's population and the improvement of health awareness, the application of medical devices has gradually changed from diagnosis and treatment to prevention and rehabilitation. At present, the consumption ratio of domestic medical devices to medical devices in China is about 1:4, while that in developed countries is generally about 1:1. There is a huge market space, especially in the field of high-end medical devices, and there is a need to make up for shortcomings.
Xu Jiarui said: "with the promulgation of the top-level design of the medical device industry and the continuous growth of investment in the medical device field, the investment subjects of the medical device industry will be more diversified, including Sinopharm and Jointown Pharmaceutical Group Co.Ltd(600998) And other large pharmaceutical enterprises, Internet enterprises represented by Alibaba, Tencent and Baidu, and advanced manufacturing enterprises represented by Midea, Gree and Haier are actively distributing the medical enterprise industry. "
In addition to the market focus of high-end medical devices, informatization has also become a new development focus of the industry. Xu Jiarui said that by supporting the new mode and format of the medical device industry and improving the service capacity of the medical device industry, it is bound to improve the digital capacity of the industry, and more professional big data institutions of the medical device industry are expected to be born in the future. The capital market, especially the promotion of the science and innovation board, makes medical devices one of the segments with the largest number of enterprises landing on the science and innovation board.
According to the data of East Money Information Co.Ltd(300059) choice, 16 medical device companies were successfully listed in 2021, of which 13 were listed through the science and innovation board, of which the number of orthopaedic consumables and diagnostic reagent companies ranked first. Gong Tao, chairman of Shenzhen Zhongjin Huachuang fund, told reporters that in the past five years, the total R & D investment of A-share medical device listed companies has increased year by year, and the annual growth rate has increased steadily. IPO companies are mainly high-end medical device companies. These performances show that the market's expectation for the medical device sector is no longer about enterprise profits and market coverage, But pay more attention to the core competitiveness and technical level of enterprises.
"From the perspective of valuation level, the valuation of the medical device sector is also higher than that of the general manufacturing industry. The vertical segmentation leaders of the medical device industry chain and technological innovation enterprises are more favored by capital. Driven by policies, these medical device segmentation industries still have greater market space and innovation potential, such as maternal and child health, traditional Chinese medicine diagnosis and treatment and other segmentation fields, which are still lack of industry leaders and leaders These industries are not only the focus of PE / VC in the next few years, but also deserve the attention of investors. " Xu Jiarui added.
(Securities Daily)
