Seize Golden Chance To Facilitate Your Market Access To China: Shanghai Launched Several Favorable Measures For Overseas MedTech Companies

In order to support the development of biomedical R&D economy, Shanghai Municipal Drug Administration issued a number of policy measures to accelerate the development of global biomedical R&D economy and industrialization on November 21, 2022.

Main Objective

By 2025, the development pattern of global biomedical R&D economy and industrialization will be initially formed; The overall scale of the R&D economy reached over 100 billion yuan; Cultivate or introduce more than 100 blockbuster products of innovative medical devices; Cultivate more than 50 innovative headquarters with multiple functions of biomedical R&D, sales and settlement; More than 20 high-level biomedicine incubators and accelerators will be cultivated.

By 2030, Shanghai’s position in global biomedical R&D economy and industrialization will be further highlighted. A number of innovative drugs and medical devices that are developed and listed in Shanghai will emerge, and a number of innovative biomedical headquarters and innovation platforms with domestic and international influence will be gathered.

Policy Highlights

• Enhance capacity for R&D and innovation;

• Support new models of R&D and production of innovative drugs and medical devices;

• Introduce and cultivate innovative headquarters;

• Support the construction of high-level incubation and transformation platforms;

• Increase the activity of biomedical intellectual property trading;

• Support the launch and use of R&D innovative products;

For the products that meet the conditions and enter the national and municipal special examination procedures for innovative medical devices, the qualified products will be given no more than 30% of the R&D investment and no more than 5 million yuan of financial support according to the procedures.

Brady is particularly aware of the process of special review procedures that can help applicants to complete the registration of innovative medical devices in a scientific and rational manner. For more questions, please contact info@bradyknowsmedical.com.