Health and Medtech to Greater China
Eligible businesses can apply for support to export medical devices, equipment, products or health technology to Greater China (Mainland China, Hong Kong and Taiwan). Applications closed on Sunday 26 November 2023.
December 2023 to June 2024
Why this market
China is NSW’s largest two-way trading partner with the second largest medical device market and one of the largest and fastest growing pharmaceutical markets in the world. China's health sector is experiencing unprecedented growth due to an ageing population, increasing incomes and improved health services in hospitals and clinics.
There has been significant investment in local healthcare infrastructure, market reforms and support for innovation through the ‘Healthy China 2030’ initiative announced in 2016. The healthcare expenditure has increased to $332.2 billion (USD) in 2022.
Hong Kong’s population expects to age rapidly; forecasts from the United Nations show that Hong Kong will possibly have the world’s oldest population by 2050. Longer life expectancy with increasing chronic diseases among the ageing population raises the demand for health and medtech product and services, as well as digital health.
Taiwan has one of the top healthcare systems, according to several international healthcare index rankings. The biomedical industry is a major focus of the Taiwanese Government’s Innovation Industries Program for Six Core Strategic Industries. There is a strong need in the Taiwan biomedical industry to conduct clinical trials and licensing-in of new IP to grow Taiwan’s biomedical sector pipeline.
The benefit for NSW participants
Through participating in this program, you will have the opportunity to:
- Present your expertise and technology to interested Chinese investors
- Create new sales leads and build your brand among the industry
- Understand sales dynamics and further develop export strategies
- Gain first-hand knowledge of the market landscape and develop an understanding of consumer preferences and trends.
Number of hours you’ll invest in sessions prior to potential in-market activity
Eight (8) hours mandatory plus four (4) hours optional, estimated. This does not include work your business may need to do to prepare, outside of program sessions, or any 1:1 coaching/mentoring you may be offered.
The program is designed for readiness of your potential attendance* at:
- China International Medical Equipment Fair (11 to 14 April 2024, Shanghai) or
- Hong Kong International Healthcare Week (16 to 31 May 2024), flagship events include Asia Summit on Global Health (16 to 17 May) and Hong Kong International Medical and Healthcare FairExternal Link (16 to 18 May)
* Note that participation in any trade show is yet to be determined.
- Welcome session – around 18 January 2024
- Introduction to the Health and Medical ecosystem in China
- Access to 13 self-serve factsheets developed by the Export Council of Australia exclusively for Going Global participants
- Access to Intellectual Property protection briefings from IP Australia
Market intelligence briefings and cultural training
- Market briefing and sector-specific opportunities
- Regulatory requirements
- Dynamics and opportunities including distribution and retail, adapting digital health solutions, healthcare provider perspective
Potential partner search and introductions
- Pitch development
- Identification of potential business partners
- Business-matching with In-market assistance
Ongoing advice and follow up
- Ongoing support provided by a dedicated NSW Government Export Adviser.
*note: the curriculum is subject to change
Participation requirements and success factors
Eligibility for the overall Program
- Have headquarters in NSW
- Have a valid Australian Business Number (ABN) registered for NSW
- Be export-capable and export-ready
- Have an employee number between 3 and 199 full-time equivalent (FTE) employees
- The product or service must be produced primarily in NSW
- The product or service is achieving sales already
- Have a website featuring the product or service
- Be prepared to adapt the product or service for the new market
- Be flexible regarding market-entry method
- Have resources to support marketing and development for a new market
- Be willing to travel to the selected market and/or to Sydney for events, and must cover own travel expenses
Note this program is designed for NSW businesses who produce and own their own brand. This program is not for aggregators, traders, or businesses who sell services to exporters
Additional eligibility requirements for this stream
- Product is already commercially successful in Australia and/or other export market
- This program does not include health supplements or health food
The ideal participant
- Has a compelling proposition for the Greater China market
- Has already checked the product fit for the Greater China market
- May already have some enquiries/leads in the China market
- Has global business experience
- Ideal product categories:
- Pharmaceutical (Phrase 3 or finalised products)
Businesses not eligible for this stream
- Applicants should not have previously participated in a Going Global Program to China
Applications closed Sunday 26 November 2023.
Applicants will be notified of the outcome around 8 December 2023.
Note: Apply for your preferred market - you can apply for and participate in only one stream.