In the Health APACMed MedTech Forum by Health Advances, different stakeholders exchanged their thoughts on the future of MedTech
FREMONT, CA: Health Advances Hong Kong attended APACMed MedTech Forum 2021 and was thrilled to hear different stakeholders’ perspectives on the future of MedTech. The growth of innovative MedTech in the Asia Pacific Region, particularly in China, was a significant theme. The sight from low-end and commoditized component manufacture to locally-designed and high-end medical devices has been noteworthy.
Government grants and multi-stakeholder collaboration have aided the development of medical equipment in APAC MedTech startups. Venus Medtech, a transcatheter heart valve medical device leader in China, is one such example. This business was awarded- USD 5 million in government grants from the Ministry of Science and Technology of PRC, Science and Technology Department of Zhejiang Province and Collaboration with physicians from top hospitals and research institutions in China and overseas such as Beijing Fuwai Hospital and Zhejiang University School of Medicine’s second affiliated hospital
Over the last 5 years, Venture capital funding has spurred significant growth in MedTech innovations. APAC exceeded North America in terms of deal count and USD 4.5 Billion have been invested in MedTech companies and startups. Chinese MedTech has dominated the top 10 deals in terms of capital raised for the previous five years with the focus on surgical robots and next-generation sequencing diagnostics.
IPOs on HKEX, in addition to VC funding, have been increasingly attractive for MedTechs, driven by the introduction of Chapter 18A in 2018 which relaxed listing requirements to accommodate pre-revenue companies.Foreign MNCs have provided more resources to domestic startups. Several MNCs have opened incubators in APAC, especially in China, such as J&J’s JLABS in Shanghai which incubates MedTech and life science startups in the region. The interventional cardiology space has been the focus of Chinese domestic companies as well as recent IPO activity. Chinese tech stocks plummeted in the first half of 2021 as a result of new government rules. The MedTech industry, on the other hand, was unaffected and the listing on HKEX under 18A remained active. Changes in laws will be a major issue for Chinese MedTech companies and their investors in future.