"What is the ultimate goal of medical innovation?" This is a question that every medical person will ponder, but it is almost unsolvable. Whenever the concept of new technology sets off a wave of medical innovation, countless pioneers will emerge in every possible direction. Although medical innovation faces many uncertainties and complicated external environment, they still insist on pursuing the 0.01% certainty with 99.99% efforts. As a result, the source of innovation in life science can spring up and rush in all directions.
Looking back on the road of medical innovation since 2022, the development of technology integration is still the main theme. Companies in various subdivisions of AIGC, brain science, synthetic biology, genomics, organoid and biochip are active. Judging from the barometer of medical industry innovation and investment and financing data, despite the overall economic downturn in 2022, 1,439 medical and health enterprises completed a new round of financing in 2022. Among them, more than 250 companies have applied for the main list of this year’s top 100 list, and finally more than 140 companies have successfully listed. In addition, the last listed companies, UIH Medical, Huada Zhizao and Zhiyun Health, successfully IPO in 2022 respectively, and successfully "graduated" from the list with excellent performance appraisal.
"Unity of knowing and doing" is the wisdom of walking, and "no question about the west and the east" is the courage of walking.Looking back at the leader’s route, we can see that the trendsetter in the medical industry "respects life" at the beginning, and with the help of the driving force of policies and technology, bravely shoulders the responsibility of industrial structure change, further broadening the way forward.
In 2023, the 7th Top 100 Future Medical Conference will take the theme of "No Questions about the West and the East" to explain the pioneering spirit of medical innovation pioneers. The conference officially kicked off on May 5, and released the list of the top 100 future medical enterprises in 2023 and the growth analysis report of the top 100 future medical enterprises in 2023 at the top 100 awards dinner on the evening of May 6. The following is the contents of this list and excerpts from the report.
List release
Founded in 2015, the Top 100 Future Medical Care List is the first list of innovative medical care fields for unlisted enterprises in China, which is launched by VB100, Arterial Network and Eggshell Research Institute. It aims to select innovative medical care providers in China who truly represent future medical care, discover the core strength of China’s future medical care industry, and promote the innovation and reform process of health care industry. In the past seven years, the selection system of the top 100 future medical institutions has been continuously enriched, and a global innovative medical health evaluation ecology for enterprises, investment institutions and industrial parks has been gradually built, and it has been expanded to the selection of innovative products and innovative technologies.
The list of top 100 future medical care in 2023 consists of: top 100 future medical care master list, top 100 future medical care innovation list of listed companies, Peng Orange Award of top 100 future medical care, Weilan Award of top 100 future medical care and value field award of top 100 future medical care.
2023 Top 100 Future Medical Care Main List
This selection is aimed at non-listed enterprises in the medical and health field. The selection is based on the VB100 value evaluation model, and through the processes of self-declaration by enterprises, evaluation by VB100 evaluation committee, cross-evaluation by supporting institutions, and final review by expert committees, innovative enterprises with TOP100 valuation rankings are selected from five major fields (medical devices/biomedicine/digital medical care/medical services/commerce and supply chain services). In addition to the valuation, the growth and annual performance of the candidate enterprises in terms of human resources, knowledge resources, important partner resources and market performance will be supplemented, with a total of 17 secondary indicators.
For the complete list of winners and the report, click to view."2023 Top 100 Future Medical Care List Released: But Go Ahead, Don’t Ask West and East"
Top 100 Future Healthcare Companies in 2023: Innovation Ranking of Listed Companies
As the backbone of China’s economic development, the innovation of listed companies is not only the core engine of enterprise development, but also of great practical significance to the national innovation strategy and industrial upgrading. This selection is based on the annual report data of listed companies in the current year, supplemented by more than 30 related index data of listed companies in four dimensions: innovation input, innovation output, innovation benefit and innovation activity, and combined with the evaluation method of arterial network for the analysis of innovation trend and space of listed companies’ track, the selection is produced.
Peng Orange Award, Top 100 Future Medical Care in 2023
"Peng Orange" means Pengcheng Wan Li, and the exclusive color of the prize is orange. Orange is the main color of yolk technology, a symbol of prosperity, strength, wisdom and vitality, and represents the style and posture of the participants in the field of medical and health care. Peng Orange Award, the Top 100 Future Medical Companies, is selected for investment institutions, enterprises and parks in the medical and health field, focusing on the annual performance and breakthroughs of candidate units during the review period.
Weilan Award, Top 100 Future Medical Care in 2023
"Wei Lan" means that the future can be expected, and the exclusive color of the award is blue. Blue is the main color of VB100, a symbol of courage, calmness, reason and never giving up, representing the quality and spirit of innovative medical professionals, investors and entrepreneurs. The Future Top 100 Medical Care Weilan Award selects investors and entrepreneurs who are innovative and pioneering in the medical and health field, focusing on the candidates’ annual innovation, team leadership and industry influence during the review period.
2023 Top 100 Future Medical Care Value Field Award
Every year, through multi-directional and all-round insight and exploration such as investor interviews, reporter interviews, and industry report reading, this selection takes capital attention as the benchmark, supplemented by three considerations: media focus, annual performance data of medical and health enterprises, and future development prosperity of the medical and health industry, and makes an inventory of the 60+ sub-sectors of the four major tracks, namely, medical devices, biomedicine, digital medical care, and medical services, and selects the most representative value areas of the year and the most representative value areas in each value field.
For the complete list of winners and the report, click to view."2023 Top 100 Future Medical Care List Released: But Go Ahead, Don’t Ask West and East"
Report release
The Top 100 Future Medical Care Companies of Arterial Network will launch the growth report of the top 100 enterprises every year according to the list of the Top 100 Future Medical Care Companies of that year. On the occasion of the 2023 TOP100 Future Healthcare Conference, the Growth Analysis Report of TOP100 Future Healthcare Enterprises in 2023 was released again, which comprehensively analyzed the data of the five major enterprises in China TOP100 Innovative Medical Devices List, China TOP100 Innovative Biomedical List, China TOP100 Innovative Digital Healthcare List, China Top 100 Innovative Medical Services List and China Top 100 Innovative Business and Supply Chain Service List. We expect to summarize the growth law and industrial change trend of enterprises with the help of multi-dimensional analysis of the enterprises listed in the top 100 medical care list every year, and provide reference for medical and health enterprises and entrepreneurs.
The cumulative valuation of listed companies exceeded RMB 1 trillion for four consecutive years, and the average valuation of TOP10 companies reached RMB 23.326 billion.In this year’s list, there are five lists of medical devices, biomedicine, digital medical care, medical services, commerce and supply chain services, totaling 500 enterprises, with a total valuation of about 1.5 trillion yuan. The average valuation of listed companies was RMB 3.068 billion, down about 16% compared with 2022 (with an average valuation of RMB 3.657 billion). Similar to the previous list, 75% of the listed companies are valued in the range of RMB 1-6 billion, and enterprises in this valuation range constitute the main group of unlisted companies in the big health industry. In addition, a total of 17 companies have a valuation exceeding 10 billion, and 5 companies have a valuation of more than 20 billion. The average valuation of the TOP10 companies has reached 23.942 billion yuan, of which 6 companies are digital medical enterprises.
The valuation performance of enterprises in the medical device list is stable, and the data of medical robots on the list is bright.In 2022, medical device enterprises still achieved steady growth under the high base in 2021. Compared with the other four main lists, the total valuation of enterprises on the medical device list was stable, and the valuation and number of medical robot enterprises on the list increased significantly compared with last year. On the one hand, excluding the weakening effect of the listing of two super unicorns, Lianying Medical and Huada Zhizhi, on the total valuation of the device list, the number of financing events in the primary market of medical devices exceeded 400 in 22 years (surpassing innovative drugs to become the medical and health track with the largest number of financing events in 2022), and high-frequency and large-scale financing boosted the valuation of medical device enterprises. On the other hand, medical robots are currently one of the hottest tracks in the field of innovative equipment, which is favored by capital. Taking surgical robots as an example, the total number of financing in 22 years has exceeded 30 times, which makes the listed data of this track enterprise more competitive.
The innovative drug track has picked up, and 22 years of financing has accelerated, helping the biomedical list valuation to lead the main list.The development of frontier biotechnology tracks such as cell therapy, gene therapy and nucleic acid drugs is the main driving factor for the investment and financing in the biomedical field and the further growth of the valuation of the track enterprises. In 2022, the biomedical field has made outstanding financing achievements in the primary market at home and abroad. At the same time, the current domestic pharmaceutical industry is undergoing structural changes, bringing new growth points and ensuring that some innovative enterprises remain active. Based on the analysis of the enterprises listed in the current biomedical list, a number of innovative biomedical enterprises in China with international competitiveness began to emerge, leading the biomedical list in terms of valuation. In addition, under the investment strategy of paying attention to biotechnology and investing early and investing small, a large number of early biomedical enterprises have obtained high financing, with a valuation exceeding RMB 1 billion.
The digital medical unicorn has the best valuation performance, and the overall valuation level of the digital medical list is relatively optimistic.At present, the sub-fields clearly covered by digital medical care include digital therapy, medical informatization, AI+ medical care, etc., which are used to realize disease prevention and management, auxiliary diagnosis, auxiliary treatment, clinical workflow, rehabilitation, new drug research and development and other related applications. Generally speaking, the capital selection is more cautious when the investment and financing ebb, and the underlying technology of digital medical care is indeed developing continuously with the naked eye. Enterprises deeply involved in this field have very optimistic and certain growth potential at both B-end and C-end, and the innovation and foresight based on emerging digital technologies are the main reasons for the increase in valuation.
The valuation level of medical service, business and supply chain service enterprises is low. The valuation of unicorn enterprises with high growth medical services has made steady progress. However, the medical service enterprises represented by genetic testing services and specialized chain services were affected by the epidemic situation in the first half of 22 years and the adjustment of epidemic policy in the second half, and their valuation levels declined. In addition, due to the expansion of the newly established list, the overall valuation level of the companies listed in this new business and supply chain service list is the lowest compared with other lists.
Beijing and Shanghai have obvious geographical advantages, and they continue to rank TOP2 in the list of enterprises.In terms of distribution cities, the statistical results of the list data show that there are obvious advantages in the number of large health-related innovative enterprises in Shanghai, with a total of 121 listed enterprises. Among them, the number of enterprises in medical devices, biomedicine and commercial and supply chain services ranks in the top three. The cumulative valuation of listed companies in Shanghai is 337.267 billion RMB, with an average valuation of 2.787 billion RMB. The number of listed enterprises in Beijing ranks second, with a total of 116 enterprises on the list. Among them, the number of enterprises in the fields of digital medical care, medical services and biomedicine ranks in the top. The cumulative valuation of listed enterprises in Beijing is 311.915 billion RMB, with an average valuation of 2.683 billion RMB. Similar to the results of previous years’ list selection, the whole industrial chain of Great Health is concentrated in Shanghai and Beijing, with 237 listed enterprises in the two cities, with a cumulative valuation of nearly 650 billion yuan, accounting for 42.18% of the total valuation of listed enterprises.
Yangtze River Delta Economic Zone and Guangdong, Hong Kong and Macao Economic Zone are still fertile ground for the growth of big healthy enterprises; Shenzhen and Hangzhou are the second echelon of large health enterprises; Guangzhou and Suzhou are the third echelon of large health enterprises.The medical and health industrial clusters generally follow the growth path of "local agglomeration-regional cooperation-global competition and cooperation" in space, and industrial clusters have become the new engine of regional development. In addition to Beijing and Shanghai, the Yangtze River Delta Economic Circle, represented by Hangzhou and Suzhou, and the Guangdong, Hong Kong and Macao Economic Circle, represented by Shenzhen and Guangzhou, have built a highly competitive industrial environment for the development of the medical and health industry. In particular, business and supply chain enterprise services cover a wide range, including medicine and equipment CRO/CMO/CDMO/CSO, life science tools and services, innovative channels and marketing services, innovative payment services, logistics services, medical insurance and financial services. Therefore, paying attention to the distribution of commercial and supply chain service enterprises can further observe the industrial completeness of each city. More than half of the listed enterprises in Shanghai and Beijing are fertile ground for the growth of current commercial and supply chain service enterprises.
Chengdu continues to lead the new first-tier cities in the west and gather highlands for medical and health enterprises in the west.It is worth mentioning that the big health industry in the western economic circle with Chengdu as the core is rising rapidly. The listed companies in the city are all leaders in subdivided tracks, gaining competitive advantages in their respective fields of deep cultivation, pushing up the average valuation to 5.6 billion yuan, ranking first in all cities. Chengdu itself is an important economic center and scientific and technological innovation center in the western region, with a sound industrial base and talent advantages, which provides a good development environment for the big health industry. In addition, the government continues to adopt a full-cycle support policy for innovative enterprises in this field, attracting a large number of capital and talents to enter the big health industry in this region.
For the complete list of winners and the report, click to view."2023 Top 100 Future Medical Care List Released: But Go Ahead, Don’t Ask West and East"
