Medical devices and bio-pharmaceuticals industry

A view of the fourth phase construction of the Medpark in Suzhou New District. [Photo/WeChat account: snd-szgxqfb]

Suzhou New District's three-year development plan (2020-22) for the medical devices and bio-pharmaceuticals industry stated that it aims to bring in more than 400 medical devices and bio-pharmaceuticals companies that created an industrial output value of 20 billion yuan ($3.14 billion) by 2020, 600 companies with total output of 30 billion yuan by 2021, and projected 800 companies with output of 50 billion yuan by 2022.

The district will make concerted efforts in areas including high-end medical devices, original new drugs, cutting-edge diagnosis and treatment technologies, and industries that support the public health emergency management system and industrial chains. 

It has built a professional carrier named the Jiangsu Medical Science and Technology Park and introduced research and development innovation platforms such as the Suzhou Institute of Biomedical Engineering and Technology of the Chinese Academy of Sciences, the Industrial Technology Research Institute of Zhejiang University, and the Suzhou branch of Jiangsu Institute of Medical Device Testing. It has also established strategic partnerships with many professional service institutes.

Statistics show that the district has presently gathered nearly 700 companies in the medical devices industry, obtained around 2,000 patents and hired more than 10,000 employees. The annual output value of the industry has maintained  an average of 30-percent growth rate for many years. Among the medical device companies in the district, 12 have realized an annual output value of over 100 million yuan and 70 were recognized as high-tech companies.