Hundred billion yuan discount interest to stimulate the market, and the medical device industry enters a "golden period"
In recent years, the domestic medical device industry has seen frequent benefits. Driven by multiple policies, the industry continues to grow and expand, ushering in a golden period of development.
A few days ago, the state issued 1.7 trillion yuan of central discount loans, of which 200 billion yuan will flow into medical equipment upgrading, which also sounded the "assembly number" of New Infrastructure of medical equipment. In this way, from the fourth quarter of this year to 2023, the medical device industry will undoubtedly enter a procurement peak period.
Hundreds of billions of market demand will be released
Recently, the National People's Congress has decided to provide phased financial interest subsidies for equipment renewal and renovation loans in certain fields and increase credit support for the social service industry to promote consumption as the main driving force. It has explicitly mentioned support for hospitals in implementing phased incentive policies for "new loans for equipment procurement and renovation".
At the same time, the National People's Congress has decided to provide special re loans and financial interest subsidies to support the upgrading and renovation of equipment in certain fields, in order to achieve the goal of expanding market demand and increasing development potential.
In principle, relevant government subsidized loans will be fully opened to all public and non-public medical institutions, with a loan amount of no less than 20 million yuan per hospital. The loan usage direction also includes the purchase of various medical equipment such as diagnosis and treatment, clinical testing, severe illness, rehabilitation, and scientific research transformation. In principle, the Health Commission will not interfere with project application, and will approve it immediately. The hospital and designated banks will negotiate a loan plan on their own.
Financial discount loans are expected to release hundreds of billions of dollars in medical device market demand. The introduction of financial discount loans to support the upgrading and transformation of medical equipment will become an important part of the further promotion of the medical New Infrastructure, and complement the power of the sustainable development of the medical system.
At present, various provinces and cities are actively responding to the policy and have begun to investigate the demand for using government subsidized loans to update and renovate medical equipment. Since October, the actual implementation speed of the discount interest loan policy has exceeded market expectations. The country has reported a demand for medical equipment loans exceeding 200 billion yuan. In addition to issuing innovative medical special bonds and hospital owned funds, discounted loans will become another important source of funding for medical equipment procurement.
Since October, the actual implementation speed of the discount interest loan policy has exceeded market expectations. The country has reported a demand for medical equipment loans exceeding 200 billion yuan. In addition to issuing innovative medical special bonds and hospital owned funds, discounted loans will become another important source of funding for medical equipment procurement.
The medical equipment industry has a high barrier attribute and R&D orientation, and is relatively immune to centralized procurement. It belongs to the policy friendly fortress sector in medicine, and the localization trend is accelerating upwards. The industry is about to enter a golden window period.
Further acceleration of 'domestic substitution'
The report of the 20th National Congress of the Communist Party of China proposes to "promote the construction of a healthy China, prioritize the protection of people's health as a strategic position for development, and improve policies for promoting people's health", and makes comprehensive arrangements for this.
At present, domestic medical equipment products are mainly concentrated in the mid to low end market, while the localization rate of high-end medical equipment with high sales prices and technical barriers is still at a relatively low level.
In order to break the situation where foreign medical device enterprises occupy the domestic market, multiple departments of the country have released signals to accelerate the process of medical device localization.
In 2021, the newly revised Medical Device Management Regulations were officially implemented. The new policy encourages the innovation and development of medical devices, and incorporates medical device innovation into policy development priorities. Important policy documents such as the 'Healthy China 2030' Plan Outline, the '14th Five Year Plan' and the 2035 Long Range Goals Outline have pushed domestic substitution of high-end medical devices to a national strategic height.