SND sets big goals for high-end medical devices industry

The fourth phase of Medpark starts construction on May 8. [Photo provided to english.snd.gov.cn]

Suzhou New District held a work promotion conference for the medical device industry on May 8, local media outlets reported.

A three-year plan for the high-quality development of high-end medical devices and biomedicine industrial chains in SND was one highlight of the conference.

The plan specified that SND will focus on five industries from 2021 to 2023, namely high-end medical devices, original new drugs, cutting-edge diagnosis and treatment technology, supporting industries to the public health emergency management system, as well as industrial chain supporting service systems.

Construction on the fourth phase of Medpark, which will be an innovative carrier of SND's medical devices industry, also started that day. The park covers a total area of 10.4 hectares and is situated to the south of Kunlunshan Road and east of Fuchunjiang Road.

The park will be designed with three specific incubation bases for gazelle, unicorn, and listed companies. They will mainly involve industries like cardiovascular devices, biomedical materials, high-end medical imaging, and molecular diagnosis.

Highlighting the development of its high-end medical devices industry, SND has realized a year-on-year growth of over 30 percent in industrial output over the past five years. It is now home to 370 related leading talents and 400 companies, generating an annual output value of 20 billion yuan ($3.11 billion) in 2020.

SND has also made it a goal to have more than 200 high-end medical devices and biomedicine companies settle in it every year. The sales revenue of the industry is expected to reach 80 billion yuan by 2023.

Suzhou New District unveils a three-year plan for the high-quality development of high-end medical devices and biomedicine industrial chains on May 8. [Photo provided to english.snd.gov.cn]