The top 10 China medical device companies in 2018 include SHINVA, WEGO, DIAN DIAGNOSTIS, MicroPort, Yuwell and LEPU MEDICAL.

Recently, CHINA INTERNET WEEKLY and eNet Research Institute have announced the Ranking List of Medical Device Companies in 2018, and the top 10 China medical device companies include SHINVA, WEGO, DIAN DIAGNOSTIS, MicroPort, Yuwell, LEPU MEDICAL and MedicalSystem.

1) SHINVA

Location: Shandong Province Time to Market: 2002

SHINVA, the third listed company in china medical device industry, was listed on Shanghai Stock Exchange in 2002. As one of the leading enterprises in the domestic medical device industry, the annual compound growth rate of net profits of SHINVA in the past three years is as high as over 50%.

From July to September, SHINVA realized a revenue of CNY 2.611 billion, up 1.08% year on year, and a net profit of CNY 0.127 billion, up 370.45% year on year, according to its report on the third quarter 2018.

2) WEGO

Location: Shandong Province Time to Market: 2004

WEGO is mainly engaged in the research, development, production and sales of disposable medical devices, including consumables (infusion sets, syringes, medical needles, blood bags, prefilled syringes, blood collection products and other consumables), skeletal materials, and blood purification consumables or equipment.

In September, Macquarie issued a research report, reiterating “outperform” rating for WEGO, and expected that the recurring EPS for 2018-2020 would increase by 3%, 7% and 13%, with a price target raised to CNY 8.8 from 5.8.

Macquarie also anticipated that the sales growth of consumables in WEGO would remain at about 10% for 2019-2020, higher than expected unit growth in the sector.

At the end of 2011, in order to guide the development of the medical device technology industry, MOST issued the 12th Five Year Plan for Medical Device Technology Industry which is a prelude to the localization of medical devices in China.

In 2015, the General Office of the State Council issued the Outlines of the National Medical Health Service System Plan (2015-2020) which clearly stipulated that medical costs shall be reduced and the configuration of domestic medical devices shall be gradually improved.

In 2015, Made in China 2025 provided important arrangements for the transformation, upgrading and development of medical devices, and determined the development goals for domestic devices in 2020 and 2025.

In 2016, the Healthy China 2030 Planning Outline was published. According to the document, we shall give top priority to health development, strive to develop medical devices with high performance, new packaging materials for excipients and pharmaceutical equipment, accelerate the transformation and upgrading of medical devices, and enhance the international competitiveness of medical diagnostic and treatment equipment and medical materials with independent intellectual property rights.

In 2017, Xi Jinping pointed out in the 19th National Congress of the Communist Party of China that the national strategy of Healthy China shall be conducted, allowing the medical device industry to step into the golden developing period.