In 2018, Ningbo achieved a bumper harvest in the pharmaceutical and biomedical engineering industry. As one of the 100 billion-yuan-level industries developed by the city, in the first 11 months of 2018, the biopharmaceutical industry generated an output value of the core manufacturing industry above the city's biopharmaceutical scale was 8.3 billion yuan ($1.23 billion), a year-on-year increase of 9.9 percent.
The Key Technology and Imaging Method for Constructing Strong Magnetic Resonance System project developed by Jianxin Nuclear Magnetics won second prize in the National Technology Invention Awards. Kangda Intercontinental Health Industrial Park, a park that integrates research and development (R&D), production, sales and training, and medical services, has been officially put into operation, becoming the largest medical device factory in China.
Mershadong animal health business was officially launched in Hangzhou Bay New District May 6, 2018. The project introduced the world's latest vaccine technology to the city. Investment in factory production equipment will expand production capacity, and enhance the role Ningbo plays in the field of vaccines and even animal health products.
With investment of about 10 billion yuan, the new district has attracted more than 20 biomedical enterprises, such as Linpei Medical Equipment Industrial Park, Kanglong Chemical and Shuangcheng Pharmaceutical. More than 3,500 scientific research personnel will be gathered at the new district, and more than 120 innovative incubators will be introduced in the near future, with an output value of over 10 billion yuan to be achieved in 2025.
"The successful industrialization of new projects will accelerate the growth of the medical device industry," according to a spokesman from the Investment Promotion Bureau of Hangzhou Bay New Area. The industry in Hangzhou Bay New Area is expected to accelerate the development of production capacity in 2020.
Apart from three biomedical industrial parks, the city has also attracted several in vitro diagnostic reagents, medical consumables manufacturers and medical device manufacturing enterprises.