The latest data shows that China currently has 27,000 hospitals including 13,400 public and 13,600 private establishments. The Chinese medical device industry is shown to be growing by 21% year on year, three times the global average, surpassing Japan as the world's second largest medical equipment market. In recent years, enhanced support has come from the State Council for medical device innovation, particularly the cooperative innovation between clinicians and the medical device industry (translational medicine).
MEDICA - the world's largest professional medical device event with a 47 year track record of success – holds extensive resources and a history of promoting translational medicine and improving medical device innovation. Therefore, we have partnered with the China Service Alliance of Medical Devices Innovation, Jiangsu Medical Device Innovation Service Center and innoMD to jointly establish the “Medical Innovation Circle” during the first China Medical Innovation Forum held in July 2016. MIC Circle is a translational medicine exchange platform that committed to connecting clinical experts and medical device manufacturers. It aims to promote further development of translational medicine, increase market share of Made-in-China innovative medical devices, and support the full implementation of a clinical evaluation and improvement mechanism to boost the overall innovation capability of domestic medical devices. The platform will regularly organize exclusive networking events for relevant clinical experts, researchers, purchasing managers, CEOs and venture capitalists. Since its inception, MIC Circle has already attracted top experts and business leaders from the medical community to join our member list.