European medical enterprises hold roadshow in China's Yangtze River Delta, eyeing on Chinese market

Photo taken on May 25, 2023 shows that businessmen from home and abroad are talking at the European technology enterprises roadshow for Shanghai and the Yangtze River Delta region.

More European enterprises eye on Chinese market and tend to set up regional or global headquarters in China after they complete primary stage of commercialization, said Xu Heng, deputy secretary general of the Shanghai New Materials Industry Fund Alliance, at a roadshow held in Hongkou District of Shanghai on Thursday.

"Six companies have been selected as representatives from over 40 candidates to participate in the European technology enterprises roadshow for Shanghai and the Yangtze River Delta region, after an over 80-day expert review," said Xu.

iThera Medical was one of the six representatives. Focusing on the technical route of photoacoustic imaging diagnosis, the technology of the Munich-based German company has many advantages over traditional ones in testing diseases such as inflammatory bowel disease, neuromuscular fibrosis, and cancer.

"We have completed the research stage and sold 124 machines worldwide. Going forward, we hope to establish a regional headquarter in China or the Asia Pacific and achieve market expansion," said Yin Shi Pang with iThera Medical.

Apart from iThera Medical from Germany, Abi Health from the United Kingdom, Healiva from Switzerland also participated in the roadshow.

It's learned that the enterprises will also hold roadshows in Fengxian District of Shanghai, Taizhou City in east China's Zhejiang Province and other regions in the Yangtze River Delta.

The Yangtze River Delta is a highland in China's biopharmaceutical industry, with nearly 30 percent of the country's output value and 30 percent of its medicine sales.

Data shows that the scale of Shanghai's biopharmaceutical industry reached 853.7 billion yuan (about 121.1 billion U.S. dollars) in 2022, a year-on-year increase of 5.7 percent. In April of this year, Shanghai announced a goal of 900 billion yuan for the scale of the biopharmaceutical industry.

Experts believe that the industry will embrace global innovations, such as high-precision equipment and consumables, and artificial intelligence solutions, as more and more innovative medicines move from clinical development to production.

Europe has many life science and technology zones and multiple research centers covering various fields, such as new materials and medical equipment. These enterprises are greatly welcomed to settle in the North Bund, said an official of Hongkou District's commerce bureau, adding that foreign enterprises in Hongkou are from over 70 countries around the world.