Xing Liping, China Healthcare Industry Management Consultant, at the World Medical Robotics Conference, used data to show us the market value trends of global medical robots: $2.6 billion in 2014 and $7.6 billion by 2020. There are more radical valuations that say it can reach 10 billion market demand. According to the CFDA report, the number of medical robot surgeries has reached 650,000 from 25,000 in 2005. It is worth mentioning that 80% of prostatectomy is done by robots.

China has also been constantly innovating and researching in the field of robotics. Especially since the beginning of 2015, there are many medical robots in China, including in the field of minimally invasive and laparoscopic surgery. Internationally, some large medical equipment organizations in the United States are cooperating with India, they are cooperating to do some new robot research and development, and are expected to enter the market in 2018. Some Israeli companies are also very active in investing and developing in this area. This whole market development trend shows that the medical robot market has great potential!

China's medical machinery supervision is stricter than the US

As China's medical machinery research and development is currently in the development stage, our current supervision is stricter than the United States.

In terms of classification, China and the United States define the classification of medical robotic instruments very close, but surgical robots are classified into the second category of medical devices in the United States, while in China they are classified into third-class medical devices. In addition, China is stricter than the United States for approval criteria and regulation of similar medical devices.

For the approval cycle, because China has a higher classification level for medical robots, the registration and approval cycle for medical robots for marketing and sales is much longer than that of the United States. At the same time, China has a validity period for medical devices that have been approved for marketing and sales. After the expiration date, it needs to be re-registered with the China Food and Drug Administration. The United States has no similar requirements.

Finally, clinical trials require that China conduct clinical trials for all Class II and Class III medical devices, while the United States requires partial clinical trials for Class II medical devices. Therefore, companies engaged in this industry should be familiar with our regulations while learning American advanced technology.

Unbalanced supply and demand for development

In fact, we all know that the specific figures are how we look at the specific data. The increase in our demand is mainly due to the aging, the global elderly over 60 years old will grow at a rate of 56%, and in the process of growth, because of the increase in the number of elderly people, their requirements for rehabilitation treatment will continue to be new. In the report of the aging of the world population, the elderly over the age of 60 in 2030 will not only grow at a rate of 5% or 6%. It is possible that the number of elderly people will exceed the total number of children aged 0-9, and the number of elderly people is likely to be 2050. It will exceed the total number of young people aged 10-20.

Looking back at the supply, the global shortage of medical personnel reached 12.9 million in 2035. In this case, the demand gap for medical personnel may depend more on technical means in the future, or on this basis, it will rely on medical robots to help us reduce the gap.

According to the Trading Economics forecasting model, China's per capita disposable income will increase by 41% by 2020, while the US will increase by 15%. The increase in income will drive the growth of high-quality medical demand. Medical robots have the advantage of less bleeding, more precision, and quicker recovery. According to Chinese and American academicians, the medical accident rate of surgical robots is lower than that of aircraft accidents, so people will slowly accept surgical robots.

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