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One of the most promising niches for Russian technologies in China has been named
Eurasia Development Ltd conducted a study of the Chinese technology market and found that the fields of medicine and pharmaceuticals are among the most developing and open for investment, as well as the most attractive for importing Russian technologies. Since the beginning of 2019, there are already 9793 technology startups and 809 venture funds ready to invest in technology in the MedTech sector.
Medtech surpassed all other areas in terms of the number of investments in August 2019 and topped the list of the most invested industries in China. 39 out of 335 deals in August were concluded with medtech companies, in July this figure was 34. According to a study by Eurasia Development, the number of venture deals tops the list of such areas as medical equipment, biotechnology, digitalization of medicine and consumer healthcare
China is one of the fastest growing markets in the world. Total healthcare spending is projected to reach $1.1 trillion by 2020. And by 2030 – $2.2 trillion. In 2018, the healthcare market volume was more than $0.75 trillion, by the end of 2019, more than $1.13 trillion is expected, and by 2020 – about $1.5 trillion. Sales of pharmaceutical products in China continue to grow – more than $123.7 billion. as a result of 2017
During the MedTech market research, the geography of the most attractive regions was compiled – most companies are concentrated in Beijing (2,454 projects, 255 venture funds), Guangdong Province (1,794 projects, 113 funds), Shanghai (1,472 projects, 204 funds), Zhejiang Province (762 projects, 62 funds) and Jiangsu (730 projects, 51 foundation).
"Within the framework of such dynamics of market development, improving innovations will no longer have an effect, China needs breakthrough solutions. In turn, there are many “smart heads” in Russia who create high-tech projects and solutions in this area. Given the good prospects, we see that they can enter the HealthCare and MedTech market in China and firmly occupy their niche," says Andrey Prokhorovich, CEO of Eurasia Development Ltd.
The company's experts noted that the main drivers of the industry's growth were: active venture financing, development and implementation of AI, AR, BigData technologies, competent public policy, welfare growth, population aging, as well as people's need for individual medical care.
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