Catalan biotechnology and medical equipment companies to scout for business opportunities in China in March 2017
<p>ACCIÓ is organising a mission to Shanghai and Hong Kong for businesses and institutions in collaboration with Biocat, Fenin and Health Tech Cluster</p>
From 25 to 31 March 2017, Catalan biotechnology and medical devices companies will be able to participate in a business and institutional mission to China organized by ACCIÓ with collaboration from Biocat, Fenin and Health Tech Cluster. Led by Catalan Minister of Business and Knowledge Jordi Baiget and Catalan Minister of Territory and Sustainability Josep Rull, the mission program includes one-to-one (B2B) and group meetings with companies and institutions in Shanghai and Hong Kong.
Taking into account that industrial technology and medical devices is one of the Chinese government’s priority sectors, the aim of this mission is to forge and deepen relations between the two markets and make it easier for Catalan companies to enter the country.
The mission, which will cost companies €3,300, is geared towards pharmaceutical companies and laboratories, technology centers specializing in healthcare and the life sciences, medical and surgical instruments and devices, health ICT, orthopedic devices and items, x-ray devices and in vitro diagnostic reactives, among others. The deadline to sign up is 15 January and companies can also apply for a travel grant.
Why China?
It is a developing market and the growth margin, government incentives and lower production costs combine to create a favorable situation for foreign companies to enter China.
In the Chinese biotechnology sector, there is still much to be done in comparison with the two largest global markets (USA and Europe). The Chinese government hopes to promote the development of local companies in the sector through public subsidies, as well as attracting foreign capital and knowledge. To this end, $2 billion in state funds were pumped into the sector between 2011 and 2015.
Given the situation, foreign bio-pharmaceutical companies are looked on very positively and are always the first choice in the top-of-the-line segment.
In terms of medical equipment, China is one of the most promising markets in the world. It is ranked fourth behind the United States, Japan and Germany but many sources believe it will become the second largest in the world within five years, as the sector is expected to grow at approximately 15% per year through 2020.
And all this at a time of changes resulting from healthcare reforms implemented by the Chinese government, which is focusing on speeding up the creation of a basic healthcare insurance system, expanding its network of hospitals and improving access to public health services, among others.