Up to 10 million yuan! Key support for such medical devices
The government has increased its support for innovative medicines and medical devices.
On August 14, the General Office of the People’s Government of Hainan Province issued a notice on “Several Policy Measures of Hainan Province on Further Supporting the High-Quality Development of the Biomedical Industry” (hereinafter referred to as the “Policy Measures”), which clearly states that it will continue to increase support for the research and development of innovative drugs and medical devices.
According to the “Policy Measures”, Hainan Province will continue to implement the provincial biomedical industry R&D voucher policy. For the entire process of product R&D, including preclinical research, clinical trials, and industrialization of new achievements, it will provide financial rewards ranging from 400,000 yuan to 10 million yuan based on phased results.
This “Policy Measures” will come into effect on September 13th and will be valid for three years.
In fact, recently, from the national to the local level, a number of policies supporting the innovative development of pharmaceuticals and medical devices have been intensively issued, bringing many benefits to the field of pharmaceutical and medical device innovation.
Last month, the National Healthcare Security Administration held five consecutive symposiums, focusing specifically on the field of innovative medicines and medical devices. Centering on national policies, enterprise research and development, product applications, healthcare payment, and other aspects, it released signals of full-chain support for the development of innovative medicines and medical devices.
With the dual support of policies and funds, China’s trillion-yuan medical device market is expected to usher in a new turning point in development. Medical device distributors, who are trapped in many pain points such as centralized procurement price reductions, high capital occupation, and fierce homogeneous product competition, are also expected to explore new market opportunities and achieve new breakthroughs in performance under the vigorous development of innovative medical devices!
China is encouraging China end uses for more domestic products in latest years. Thus, more and more overseas manufacturers are planning localization in China. BradyKnows localization team has extensive experiences in facility establishment, audit, supplier evaluation, manufacturing, registration, and marketing in China. Pls feel free to let us know any questions on China entry via info@bradyknowsmedical.com
Data Source： Medical Device Distributor Alliance
Translated & edited：Bradyknown
