Zheng Quan Ri Bao Wang·2025-09-18 12:12Core Viewpoint - The medical device export sector in China is experiencing growth, with a notable increase in revenue and profit among companies listed on the STAR Market, driven by innovation, international expansion, and strategic mergers and acquisitions [1][2][4]. Group 1: Market Performance - In the first half of 2025, China's medical device exports reached $24.1 billion, marking a 5.0% year-on-year increase and accounting for over 40% of total pharmaceutical product exports [1]. - STAR Market medical device companies reported a revenue growth of 9% and a net profit growth of 3% year-on-year, with second-quarter revenue and net profit showing quarter-on-quarter growth of 22% and 30%, respectively [1]. - Nearly 30% of STAR Market medical device companies have over 30% of their business coming from overseas [1]. Group 2: Innovation and Global Strategy - STAR Market medical device companies focus on high-value consumables and medical equipment, leveraging capital market support to build extensive global marketing networks [2]. - The industry has seen the emergence of several benchmark companies, with a total of approximately 18,000 invention patents held by STAR Market medical device firms [2]. - Notable innovations include the world's first branched aortic stent graft approved for market by Shanghai MicroPort Medical, and the FDA breakthrough designation for the self-expanding intracranial drug-coated stent system by Sinno Medical [2]. Group 3: International Expansion - Shanghai United Imaging Healthcare Co., Ltd. has increased its overseas revenue share from less than 10% at the time of listing to nearly 20% in the first half of 2025 [3]. - Haier Biomedical and Chongqing Mountain Outside Mountain Blood Purification Technology Co., Ltd. reported overseas revenue growth of 30% and 41%, respectively, in the first half of 2025 [3]. - The global expansion of domestic medical device companies is evident, with Haier Biomedical's products applied in over 150 countries and regions [3]. Group 4: Mergers and Acquisitions - The medical device industry is increasingly utilizing mergers and acquisitions to expand product lines and enhance technological capabilities, supported by policies such as "Merger and Acquisition Six Articles" and "STAR Market Eight Articles" [4]. - Shanghai Sanyou Medical Devices Co., Ltd. has successfully acquired the French orthopedic company Implanet, significantly boosting its overseas revenue [5]. - Shenzhen Huatai Medical Devices Co., Ltd. has improved its market penetration and product coverage following the introduction of Mindray Medical as a controlling shareholder [5]. Group 5: Policy Support and Future Outlook - The Chinese government has introduced numerous supportive policies aimed at fostering high-end innovation and quality development in the medical device sector [6]. - The industry is expected to transition from "product export" to "technology output" and from "landing" to "local integration," positioning itself for higher value within the global value chain [6].