CITIC Securities: Innovation Breakthrough, Reshaping Growth Logic of Chinese Medical Devices Industry

CITIC Securities' research report states that research and innovation are the driving forces behind the growth of the medical device industry. The growth logic of China's medical device industry has gradually shifted from domestic substitution to innovation and internationalization, and the research and development of medical device products has gradually shifted from primarily following to running alongside and even leading. Looking back at overseas medical device leaders, innovative blockbuster products have created many unicorn companies and also led to changes in clinical concepts. Chinese medical device companies have continuously made breakthroughs in the field of device innovation in recent years, and it is expected that more First-in-class or Me-better type of medical device products will emerge in the future.