Biomedical sector looks for growth from cutting-edge research
Investment in the biomedical industry has started to cool although it continues to be buoyed by fast-growing cutting-edge niche research in areas like cell and gene therapies, the latest industry index shows.
The trends were revealed in the "Insight Into the Future From 2022 Biomedical Hotspot Index" during the 24th Shanghai International Forum on Biotechnology & Pharmaceutical Industry being held in Fengxian District.
The burgeoning biomedical industry became a magnet for new investment in China in 2020, mainly attributable to reforms in drug approvals and the widespread public focus on health care during the COVID-19 pandemic.
The investment craze fueled the industry in 2021. However, so far this year it has been a different story with investment heading downhill.
There are various reasons such as the lower prices of innovative drugs and downward trends in consumption due to sporadic COVID infections. But above all, investors have tended to be more rational. They still favor the biomedical sector but they are craving the niches in the market.
The index, hailed as a barometer of investment in the primary market of the biomedical sector, shows that cell and gene therapies, brain science and other cutting-edge research offer new investment opportunities in the near future.
It also stressed the performance of the medical apparatus and instruments sector, specifically in vitro diagnosis, medical robots, medical imaging and more.
Notably, the sector has been performing better than the industry's average level since 2020 and it quickly rebounded in June this year. Underlying its vitality is the unending innovation in domestic technology.