The next wave of localization wave: medical equipment to "GPS"

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In recent years, the government has provided important policy support for the “localization” of some key domestic industries, creating a good competitive environment for local industries and national brands, and accelerating the localization process of related industries.

From the perspective of industry attributes, the industries with the highest import substitution potential are often reflected in the pillar industries related to the national economy and the people's livelihood, such as the automotive industry; or concentrated in the emerging fields with potential to become pillar industries in the future, including information technology industry, bio-industry, high-end equipment manufacturing, Strategic emerging industries such as new energy. At the specific sub-sector level, there are two types of industries with strong import substitution. One is the area that is easy to breed corruption, including government bus procurement, hospital medical equipment procurement, etc. The second is related to national security and people's livelihood security. Industry, including military industry, information industry, etc.

In the past few years, there have been three waves of typical localization “waves” worthy of attention, including: government procurement of domestic vehicles, industrial robot industry localization and information industry to “IOE”. From the perspective of secondary market performance, domestic alternative companies will benefit from the promotion of localization in the medium and long term. At the same time, with the introduction of policies and landmark events, the stock price of related companies ushered in important thematic catalytic factors, market performance. Accelerated upward movement.

The next wave of localization wave: medical equipment to "GPS"

It is expected that the "GPS" of medical equipment will become the next "window" of the localization wave. In the domestic medical device market, foreign-funded enterprises occupy a high market share. Especially in the high-end, large-scale medical equipment field, foreign-funded enterprises represented by "GPS" (GE, Philips, Siemens) occupy an absolute dominant position. We believe that the domestic medical device industry is facing the opportunity of localization, especially in the high-end medical device field to "GPS" process will be accelerated:

From the perspective of internal motivation, the domestic medical device industry's localization trend has its logical support behind it:

1) The cost of purchasing and the service price of imported equipment products are artificially high;

2) The high-end medical equipment purchase price is too high, the procurement system is not perfect, and the hospital is prone to corruption in the process of purchasing imported products;

3) The core technology of high-end medical equipment is in the hands of foreign companies, and information security such as medical diagnosis, treatment data and patient medical files are facing great risks;

4) From the perspective of the development stage of the domestic industry itself, except for a few areas where it is difficult to enter due to lack of core technology, most areas have the basis of localization.

The next wave of localization wave: medical equipment to "GPS"

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