Medical equipment under spotlight at CIFTIS
Other exhibits at the fair included a completely peeled, smooth-skinned quail egg. The shell of the quail egg, which is thin yet crisp and brittle, was peeled by a Chinese-developed surgical robot. Also demonstrating the combination of healthcare and engineering was the minimally invasive surgical robot developed by PUMCH. It can enter the human body through a single incision and conduct surgeries with reduced scarring and speedier postoperative recovery.
Chen Jia, an independent researcher in international strategy, said: "Through the promotion of new application scenarios, China-developed high-end precision medical instruments are gaining popularity. This is of great commercial3 significance to both current and potential market cultivation."
"Past experience has proved that after CIFTIS, a lot of investments and agreements related to high-end technology are made. In the context of precision epidemic prevention and control, high-end medical device companies are gaining greater commercial exposure, winning potential investment opportunities and business partners, and exploring broader markets," he said.
This year's healthcare-themed exhibition, with an area of 7,700 square meters, was 16 percent bigger than last year. The exhibition hosts numerous high-end medical device companies and healthcare product and service providers, among which Fortune Global 500 companies and other industry leaders constitute over 31 percent. During the fair, 78 agreements were made, 24 involving innovative product launches.
China's medical device industry has seen rapid growth in the past five years. According to research company Askci Corp, between 2017 and 2021, the industry grew from 443.5 billion yuan ($63.9 billion) to 964 billion yuan, with a compound annual growth rate of 21.47 percent. It is estimated that the market will reach 1.17 trillion yuan by the end of this year.
In 2020, the market volume of high-end medical devices increased by 19.5 percent year-on-year to 257.5 billion yuan, and is estimated to reach 325.7 billion yuan by the end of this year, said the report.
