Industry giants plan to showcase their latest healthcare products at China International Import Expo

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International industry giants will be bringing their latest healthcare products to the upcoming China International Import Expo scheduled for Nov. 5-10 in the financial hub of Shanghai, looking to further tap the growing healthcare market in the world’s most populous country.

Fujifilm Holdings will introduce its newest brand REiLI, which will represent Fujifilms global Medical Informatics and Imaging AI technology Initiative.

Fujifilm, which has traditionally been a photographic film manufacturer, has diversified its business over the years. Its healthcare products focus on medical imaging, such as a 3D medical network that produces stereoscopic images to provide a more accurate reference for doctors to develop surgical treatment plans. It also integrates artificial intelligence with traditional imaging techniques to help doctors diagnose diseases earlier by comparing it with its database.

Moreover, Medical device maker Medtronic will showcase the world’s smallest non-wired cardiac pacemaker, which is the size of a coin. Time Medical will bring the world’s first pediatric MRI machine to the expo. Siemens will present its new SOMATOM Drive, a dual source CT scanner that is used for general purpose imaging in a variety of cases including cardiology, EM, and pediatrics.

Industry watchers believe that China’s fast-growing medical device and healthcare market provides a historic opportunity for global companies. According to certain forecasts, by 2020, China’s medical device market will exceed 770 billion yuan ($110 billion) and the size of its healthcare market will exceed 10 trillion yuan ($1.44 trillion).

Representatives of many foreign enterprises believe that besides the promising market prospects, China’s loose business market environment is also highly attractive. For instance, quick approval of HPV vaccines, a zero tariff policy on imported anti-cancer drugs, and so on, are all positive signs for foreign companies operating in China.

“China International Import Expo will serve as a window of China’s openness to the world,” said Zhou Hong, general manager of Shanghai Roche Pharmaceuticals, the first Chinese joint venture of Swiss pharmaceutical giant Roche.

“It will not only create more opportunities for cooperation between domestic and foreign companies, but will also lead people into a higher quality of life, especially meeting their growing medical and healthcare needs." Zhou added.