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Event Review | The Future of MedTech post COVID-19 in China and Beyond
1 July @ 2:00 pm - 3:00 pm
This webinar was focused on China’s leading digitalization of healthcare post COVID-19, and the opportunities and challenges it poses for Australian businesses, led by Tim White (Trade Commissioner and Commercial Consul of West China at Austrade), Professor Craig Anderson (Executive Director of the George Institute China at Peking University) and Brendan Mason (CEO of Sino-Oz Limited).
Key medtech trends in China were noted as the accelerated uptake of digital solutions due to COVID-19, including uptake in online consultations through platforms like WeDoctor (which saw 140 million visits to its platform through February – April). As China is working towards the integration of medtech solutions and its healthcare system to address the challenges of high patient volumes, underdeveloped primary and allied healthcare and geographic resourcing disparities, there is strong demand for partnerships across diagnostics, treatment and management. Mr White noted that Austrade’s actions in catering to this demand include the following: launching a Chinese language digital health capabilitites card to highlight Australian innovation in the industry, working with industry body AusBiotech to give their members insights into the Chinese market, and running a virtual bootcamp in July for Australian digital health companies to understand the trends, risks and opportunities in the Chinese market.
Key trends and challenges noted by speakers included:
1. China’s desire to link hospital care and community and home-based care, by transitioning specialist care into the community
2. The key components of medtech in the context of COVID-19:
- Regulation around technology approval (including the system of ‘special approval for innovative devices’)
- Import/export (which is severely constrained currently)
- Domestic distribution (this is feasible as long as there are available inputs in China)
3. Further challenges for companies seeking to enter the Chinese market:
- Complex regulatory processes, including around data access and security
- Isolation strategy recommended by the State Council affiliated Chinese Academy of Social Sciences thinktank (pushing for self-reliance and homegrown solutions)
- Inconsistent messaging about policy and trade in China driving confusion and anti-China sentiment
- Resourcing (considering salary scales and access to expertise)
4. Looking at future implications:
- Companies who develop in China will be well received (especially if R&D is localized)
- IT enablement will be an urgent focus
- Companies must have a strategic China plan
布兰登 · 梅森 (上海韶屹生物科技有限公司首席执行官)介绍了在新冠疫情背景下医学科技的主要组成部分。这包括有关技术审批(包括“创新医疗器械特别审批”程序)、目前受到严重限制的进出口和供应充分便可行的国内分销的监管。他进一步强调了进入中国市场企业面临的挑战,包括复杂的监管和国务院下属中国社会科学院智库推荐的隔离方法。这一智库致力于推动
Please follow the link for the full webinar recording: