japan and china share great similarities in population structure, cultural background, social environment and medical system. therefore, the trajectory and experience of japan's massive health industry are of great reference value to china. the icap roundtable activity series entered tokyo bay area iii: visit terumo corporation—a japanese massive health enterprise with nearly a century of history takahito miamura, chairman of terumo, had an in-depth exchange with zhang chaomin, chairman of icap.
introduction
japan and china share great similarities in population structure, cultural background, social environment and medical system. therefore, the trajectory and experience of japan's massive health industry are of great reference value to china. the icap roundtable activity series entered tokyo bay area iii: visit terumo corporation—a japanese massive health enterprise with nearly a century of history takahito miamura, chairman of terumo, had an in-depth exchange with zhang chaomin, chairman of icap.
with the increasing health needs of people and the continuous development of medical and health undertakings, the medical device market, as an important part of medical services, also benefited from this and had maintained a steady growth over the years. according to evaluate medtech's world preview 2018, outlook to 2024, the sales of the global medical device market reached $405 billion in 2017, up 4.6% year on year; sales were expected to reach $594.5 billion in 2024, with a compound growth rate of 5.6% between 2017 and 2024. the long-term investment value of medical device industry was worthy of attention.
made in china 2025 proposes to improve the innovation capacity and industrialization level of medical devices, and to focus on the development of imaging equipment, medical robots and other high-performance diagnosis and treatment equipment, as well as high-value medical consumables such as fully degradable vascular stents, wearable, remote diagnosis and treatment and other mobile medical products. we would achieve the breakthrough and application of biological 3d printing, induced pluripotent stem cells and other new technologies.
influenced by the support policies of the national medical device industry, china's medical device industry as a whole had entered a stage of rapid growth. with the progress of population aging, per capita disposable income growth and strong policy support, the future medical device industry still has broad room for growth. on october 28, 2017, the china medical device industry development report (2017) compiled by the china society of drug control and prevention came into the market. according to the report, from the general perspective of china's medical device industry in the past few years, china's medical device industry developed rapidly, the growth rate of the main business income of enterprises above designated size was 11.66-22.20%, which was significantly higher than the growth rate of national economic development in the same period, and the development and production of high-end medical devices were encouraging, and innovative products were emerging at a faster pace.
japan's medical device industry has a long history. terumo, olympus medical, toshiba medical and fujifilm were all founded before world war ii. after world war ii, japan's medical device industry achieved a breakthrough development and ranked among the world's advanced levels.
according to statistics, the number of medical institutions in japan is more than that in other developed countries. according to the statistics of oecd in 2007, in terms of the proportion of population, the number of medical institutions in japan were about 3.5 times that of the united states, 2.7 times that of germany and 1.5 times that of france. the degree of specialization and centralization of medical institutions in japan was lower than that in european and american countries, and the diseases and cases were relatively scattered. medical device enterprises needed to conduct transactions with more medical institutions. in addition, japan's medical system was quite strict, with higher requirements on products, specifications, inventory, packaging, etc., than other countries. japanese medical device companies generally attached great importance to research and development. in 2016, the overall r&d expenditure of the industry accounted for about 7.6% of the industry revenue. in the same year, the average proportion of r&d investment in china's revenue was about 4.51%.
according to the statistics of the ministry of health, labor and welfare of japan, there were about 500-600 medical device manufacturers/importers in japan, and the medical device enterprises with prominent scale and market influence mainly included terumo, nipro, olympus medical, canon medical (formerly toshiba medical), hitachi medical, nippon optoelectronics, fukuda electronics, etc.
japan and china share great similarities in population structure, cultural background, social environment and medical system. therefore, the trajectory and experience of japan's massive health industry are of great reference value to china. the icap roundtable activity series entered tokyo bay area iii: visit terumo corporation—a japanese massive health enterprise with nearly a century of history takahito miamura, chairman of terumo, had an in-depth exchange with zhang chaomin, chairman of icap.
terumo corporation
takahito miamura, chairman of terumo corporation (first from left)
in 1921, terumo corporation, founded with the goal of making domestic thermometers which support japanese people’s health, has been progressing together with the development of medical treatment and now has business in more than 160 countries and regions around the world.
terumo is involved in cardiovascular systems, extracorporeal circulation systems, conventional medical devices, blood transfusion equipment, diabetes care products, pharmaceuticals and nutrition and home healthcare products, and many other fields. its medical products aim to make the medical process more humane and can greatly relieve the pain and discomfort during the medical treatment process. its products include disposable medical equipment, blood transfusion equipment series, pharmaceutical and nutritional drugs series, angiography and treatment catheter, medical electronic products series, artificial heart and lung product series, infusion pump, injection pump, blood transfusion pump, anesthesia pump, target controlled pump series, test product series, family medical and health care products series.
in january 1963, terumo began to produce and sell the first disposable syringes made in japan to prevent infection during treatment, thus terumo entered the field of producing disposable medical devices.
since 1971, terumo has expanded its global network of r&d, manufacturing and sales organizations to more than 100 countries, contributing to the global health care industry.
in 1985, the catheter system for angiography was marketed and exploited the field of intervention products.
in december 1995, terumo entered the chinese market. in china, it has cooperated with chinese enterprises in peritoneal dialysis, renal nerve catheter, cerebrovascular treatment and other fields.
in september 2015, terumo received the world's first marketing license for a cardio-regenerative medical product for the treatment of heart failure. muscle tissue was taken from the thighs of patients with severe heart disease, and the skeletal muscle bud cells contained in the tissue were cultured into sheets and pasted on the heart for use. this could provide new treatments for difficult cases that are difficult to recover from with drugs or surgery.
now, terumo has many achievements in the field of medical devices, in hospital medical care, catheter, artificial heart/lung devices have a high market share in the world; in the field of home medical products, its thermometer, blood pressure monitor, urine test paper and so on are well known in the industry.
in the 2018 qmed top 100 global medical device companies list, terumo ranked 18th with total revenue of $4.9 billion.
the above introduction and materials were extracted partially from the official website and media.
partial reference material:
1. terumo’s official website
2. the famous japanese high-end medical equipment company terumo is fully entering the chinese market this year, jiang hong;
3. china medical device blue book (2019) edition, medical device research institute;
4. analysis of the status quo of china's medical device industry in 2018. the localization rate of high-end medical devices has great potential. forward-looking industrial research institute, lu lanqing;
5. japan medical device industry review, special column of wallstreetcn.com, sinolink securities research institute.