Page 290 - 2023 White Paper on the Business Environment in China
P. 290
3 White Paper on the Business Environment in China
Medical Technology 155 Israel-owned and Sino-Israeli cooperative
enterprises and promoted 40 Sino-Israeli
Outside tech companies are looking to expand scientific and technological cooperation projects
and invest in the future of China’s medical involved in life sciences, modern agriculture,
technology. Israeli medical technology company intelligent manufacturing, new materials, and
Insightec is upbeat about the prospects of other emerging industries. The year 2022 marks
China's healthcare industry and ramping up the 30th anniversary of the establishment of
its investment in the world's second-largest diplomatic relations between China and Israel. In
economy, as innovation has been playing one 2022, the two countries signed the China-Israel
of the leading roles in promoting China-Israel Innovation Cooperation Action Plan (2022-24),
relations. Eyeing China's development potential and seven cooperation agreements in the fields
in the medical technology field, Insightec plans of science and technology, healthcare, culture,
to cooperate with more top medical institutions environmental protection, clean energy, and
in China to explore treatment methods more intellectual property rights. China has become
suitable for Chinese patients. Over the years, Israel's largest trading partner in Asia and its
China has been continuously deepening third-largest globally (Fan).
reform and opening-up and optimizing the
business environment for foreign enterprises. China is the second-largest medical equipment
Meanwhile, China's National Medical Products market in the world and has been growing rapidly
Administration and Israeli Ministry of Health with double-digit growth since 2017. Here is a
issued a joint announcement on collaboration of summary of the key events and milestones in
pharmaceuticals, medical devices, and cosmetics, China in 2021 and an exploration of the trends
which allows Insightec’s technology to receive for the year 2022 and beyond. First, the aging
approval quickly and enter the Chinese market population shall keep driving the growth of China’s
smoothly. Insightec's opportunities in Israel are healthcare equipment market. Demographic
relatively limited considering the country's size change is the biggest factor underpinning the
and population, but China provides a distinctively growth of China’s domestic healthcare market.
favorable environment for the company to grow. The 65+ age group reached 200.5 million in 2021,
China's continuous investment in education and accounting for 14.2% of the national population.
scientific research has benefited Insightec, as According to a recent United Nations forecast, the
more and more Chinese patients have higher population aged 65 years or older in China is set
acceptance for high-tech medical products. to rise to 356 million in 2045, or 20.7% of the total
China's GDP maintained stable growth in 2021, Chinese population. The fast-increasing medical
which is very rare amid worldwide pessimism demand owing to aging requires China’s health
in the face of COVID-19 pandemic, Insightec system to upgrade and drive the fast growth of
is optimistic about the growth potential of China’s medical equipment market. Secondly,
China as the world's largest single market investments shall continue in healthcare facilities
due to its transparent laws and regulations, construction. The Chinese government realizes
favorable business environment and bright the pressing need for healthcare services.
prospects. Insightec focuses on the research and Therefore, investments have been made to
development of the magnetic resonance-guided upgrade and expand medical facilities across
focused ultrasound system, which is used for the country. In the latest 14th Healthcare 5-Year
the treatment of symptomatic uterine fibroids, Plan released in March in 2022, the initiatives
essential tremors, and tremor-dominated to improve healthcare infrastructure expand to
Parkinson's disease. It has worked with more strengthening infectious disease prevention and
than 200 medical institutions around the world. control and building state-level and regional-
In China, more than 30 hospitals are using the level medical centers. Third, the “Health for all”
company's technology. China and Israel have state medical insurances will cover the majority
strengthened cooperation in innovation in recent of the Chinese population. The National Medical-
years. Since its inauguration in 2015, the China- Security Plan sets several goals. One goal is to
Israel Changzhou Innovation Park has gathered maintain the coverage of state medical insurance
290
Medical Technology 155 Israel-owned and Sino-Israeli cooperative
enterprises and promoted 40 Sino-Israeli
Outside tech companies are looking to expand scientific and technological cooperation projects
and invest in the future of China’s medical involved in life sciences, modern agriculture,
technology. Israeli medical technology company intelligent manufacturing, new materials, and
Insightec is upbeat about the prospects of other emerging industries. The year 2022 marks
China's healthcare industry and ramping up the 30th anniversary of the establishment of
its investment in the world's second-largest diplomatic relations between China and Israel. In
economy, as innovation has been playing one 2022, the two countries signed the China-Israel
of the leading roles in promoting China-Israel Innovation Cooperation Action Plan (2022-24),
relations. Eyeing China's development potential and seven cooperation agreements in the fields
in the medical technology field, Insightec plans of science and technology, healthcare, culture,
to cooperate with more top medical institutions environmental protection, clean energy, and
in China to explore treatment methods more intellectual property rights. China has become
suitable for Chinese patients. Over the years, Israel's largest trading partner in Asia and its
China has been continuously deepening third-largest globally (Fan).
reform and opening-up and optimizing the
business environment for foreign enterprises. China is the second-largest medical equipment
Meanwhile, China's National Medical Products market in the world and has been growing rapidly
Administration and Israeli Ministry of Health with double-digit growth since 2017. Here is a
issued a joint announcement on collaboration of summary of the key events and milestones in
pharmaceuticals, medical devices, and cosmetics, China in 2021 and an exploration of the trends
which allows Insightec’s technology to receive for the year 2022 and beyond. First, the aging
approval quickly and enter the Chinese market population shall keep driving the growth of China’s
smoothly. Insightec's opportunities in Israel are healthcare equipment market. Demographic
relatively limited considering the country's size change is the biggest factor underpinning the
and population, but China provides a distinctively growth of China’s domestic healthcare market.
favorable environment for the company to grow. The 65+ age group reached 200.5 million in 2021,
China's continuous investment in education and accounting for 14.2% of the national population.
scientific research has benefited Insightec, as According to a recent United Nations forecast, the
more and more Chinese patients have higher population aged 65 years or older in China is set
acceptance for high-tech medical products. to rise to 356 million in 2045, or 20.7% of the total
China's GDP maintained stable growth in 2021, Chinese population. The fast-increasing medical
which is very rare amid worldwide pessimism demand owing to aging requires China’s health
in the face of COVID-19 pandemic, Insightec system to upgrade and drive the fast growth of
is optimistic about the growth potential of China’s medical equipment market. Secondly,
China as the world's largest single market investments shall continue in healthcare facilities
due to its transparent laws and regulations, construction. The Chinese government realizes
favorable business environment and bright the pressing need for healthcare services.
prospects. Insightec focuses on the research and Therefore, investments have been made to
development of the magnetic resonance-guided upgrade and expand medical facilities across
focused ultrasound system, which is used for the country. In the latest 14th Healthcare 5-Year
the treatment of symptomatic uterine fibroids, Plan released in March in 2022, the initiatives
essential tremors, and tremor-dominated to improve healthcare infrastructure expand to
Parkinson's disease. It has worked with more strengthening infectious disease prevention and
than 200 medical institutions around the world. control and building state-level and regional-
In China, more than 30 hospitals are using the level medical centers. Third, the “Health for all”
company's technology. China and Israel have state medical insurances will cover the majority
strengthened cooperation in innovation in recent of the Chinese population. The National Medical-
years. Since its inauguration in 2015, the China- Security Plan sets several goals. One goal is to
Israel Changzhou Innovation Park has gathered maintain the coverage of state medical insurance
290
