As one of the basic sub-industries of the biomedical industry, the medical device industry is a high-tech industry with cross-disciplinary fields, capital intensive, long investment cycle and high technical barriers, especially in the field of high-end medical devices. Because the performance, accuracy and stability of local products are significantly weaker than imported products, high-end medical devices rely heavily on imports, which is considered to belong to China's "jam neck" industry. In recent years, China's medical device industry has ushered in a rare "policy intensive period", promoting the obvious "localization" orientation and trend, stimulating the development of local medical device enterprises, and domestic medical device new products are blowout.

In 2022, the operating income of China's medical device industry is about 1.3 trillion yuan, an increase of 12% year-on-year, significantly higher than the overall growth rate of the pharmaceutical industry; The market share accounts for more than 1/3 of the global market, and the growth rate is about 3 times that of the global market. In 2023, a total of 61 innovative medical devices were approved for market in China, including several domestic first-of-its-kind products. "Pharmaceutical and medical device innovation has entered an explosive period".