After the stable trade exchanges in the medical field between Italy and China in recent years, Italy has full confidence in the continued growth in this field and beyond in the Chinese market, the executives of the ICE

and the China-Italy Chamber of Commerce said during the 2024 edition of the China Medical Equipment Fair (CMEF).

There will certainly be greater and deeper opportunities for cooperation between the two countries, which this year celebrate the 20th anniversary of the creation of the comprehensive strategic partnership, said Augusto Di Giacinto, trade commissioner of the Shanghai office of the ICE, a government agency to support and promote the export and cooperation of Italian companies abroad.

"The presence of 12 innovative Italian companies with cutting-edge technologies in their respective sectors, including diagnostics, imaging, ambulance equipment and testing, at this year's CMEF, demonstrated our confidence in the potential of the Chinese market," said Di Giacinto during the fair that ended on Sunday, April 14 in Shanghai.

"All the Italian exhibitors said they were extremely impressed by the fair, which attracted over 5,000 companies, demonstrating the vitality of the Chinese market," he said.

The Italian medical device industry is quite advanced, with over 4,400 companies active in this sector. According to the agency's statistics, the sector's turnover reached €15 billion in 2023, a step forward compared to the previous year.

China is the seventh destination for Italy's medical device exports, with total exports reaching €160 million last year, according to Italian government data.

Valtero Canepa, coordinator of the Italian Chamber of Commerce's health working group in China, said that China's growing demand for quality and innovation supports the expectations of many Italian industry players for continued growth in the Chinese market.

"The Chinese market is evolving. The government has shown unprecedented interest in introducing innovative therapies and diagnostic tools for patients at an accelerated pace," said Canepa, also general manager of Bracco Sine, an Italian pharmaceutical company that has been present in China since 2001.

Some Italian medical players have recently entered the Chinese market, attracted by the country's increased interest in innovation, he said. He gave the example of an Italian company specializing in in in vitro diagnostics that opened a plant in Shanghai last year and expects its presence to continue to grow.

"China ranks second in the world in terms of market value for pharmaceuticals and is very likely to become No. 1 in the medical device industry soon. There is still a lot of room for Italian companies to improve their performance and seize opportunities in China," said Canepa.

The two countries will cooperate in various aspects of the healthcare industry supply chain, covering areas such as the design of nursing components, pharmaceuticals, health services, management of patients with acute and chronic diseases, training of medical staff and high-tech technical solutions, he said.

(This article is translated from: http://www.italian.people.cn/n3/2024/0417/c416705-20157934.html)