The global Medtech innovation ecosystem recently became more intense and competitive with Medtronic’s recent announcement of a Shanghai-based Medtech accelerator. This is not a surprising development given Medtronic’s continued focus on this key emerging market.
"China represents a tremendous opportunity, given its significant market size, abundance of unmet clinical needs and active entrepreneurship landscape," said Medtronic CEO Omar Ishrak in a news release.
In a previous blog post, I had mentioned that Medtech innovation is on the cusp of explosive growth, particularly with the convergence of healthcare and AI.
With Medtronic, the world’s largest medical devices/Medtech player, joining forces with a new, focused Medtech accelerator in Shanghai, we can expect major impact on innovation deal flow not only in China, but around the world!
This move also means China may soon join the ranks of the leading Medtech innovation countries globally (USA, Israel, Germany, Canada and the UK).
It also puts pressure on the rest of the world - and particularly North America - to raise its “game” to the next level in terms of Medtech innovation and investment.