The healthcare summit at the BEYOND International Technology and Innovation Expo 2023 kicked off on Wednesday afternoon.
The three-day Beyond Expo, convening hundreds of business leaders and tech professionals at the Venetian Macao, is divided into three conclaves looking at the impact of technology on healthcare, sustainability and consumer markets.
Day one of the healthcare summit was opened by Zhao Yupei, president of the Chinese Medical Association. He told an audience of several dozen delegates that he was gratified to see so many organisations at the conference, saying that it was “very meaningful” to create opportunities for people “to feel the value of technology”.
Three panel discussions followed, looking at trends in biotechnology, innovation in medical devices and equipment, and global opportunities for Chinese healthcare companies.
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In the first discussion, Wu Shan, the general manager of AstraZeneca Hong Kong, was joined by Raphael Ho, the general manager of Lianbio APAC, and Wang Yanmei, executive secretary of the Shenzhen Life Sciences and Biotechnology Association, who moderated.
Wu said that, compared to a few years ago, the industry had made great progress. He emphasised the importance of “collaborating with different partners to find solutions to helping patients”.
Choosing the right products to develop was crucial, Ho said, highlighting “medical system maturity and [regulatory] approval” as challenges enterprises faced in bringing their innovations to market.
“If we want to take the road of development, we must coordinate with international standards and models of supervision” Wang summed up, “otherwise we will have no way to go overseas”.
The evolution of medical technology
Meanwhile, Edward Wang, director of the healthcare industry group at AmCham, moderated a discussion on medical devices between Zhang Huale, the government affairs director of Abbott China, and Rita Xie, the senior director of Edwards Lifesciences.
Zhang pointed out that China was now the second largest medical device market in the world after the United States.
“As our country is ageing, there’s a sharp increase in the demand for nursing care for chronic diseases”, he told delegates. “With the continuous growth and improvement of our country’s economy, the need for high-quality and advanced medical care has also increased. The demand for technology and products is therefore constantly increasing.”
Xie said that AI would be of enormous help as demand for medical services increased.
“AI can help to identify [a disease] quickly”, she told the audience. “We believe that Al should be able to do a lot in the field of consumables in the future.” But because of the complexity of medicine, “for a manufacturer or an expert in the medical field, there is still a long way to go and explore”.
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The afternoon’s final panel looked at the global market for Chinese medical technology. Liu Chang, the CEO and founder of ASK Health Asia, moderated a brief conversation between Li Haifeng, the executive vice president of Fosun International, and Zhang Wenze, the CFO of Livzon.
Li talked about “incredible achievements” of certain Chinese-made products that have helped people in the world.
Zhang said that in attracting companies in the medical field to Macao, the BEYOND expo was “not just an exhibition, but a builder of a platform”. He also highlighted the impact of AI.
“I personally think that AI is likely to be an important force in the future”, he said, “and may even subvert our medical and pharmaceutical system”.
The mission of BEYOND Expo 2023 is to “encourage exchanges of ideas” and “promote comprehensive industrial upgrading, development, and transformation, for a better global innovation ecology”.
The event is being held from 10-12 May at the Venetian Macao Convention and Exhibition Centre.
—With reporting by Vanesse Chan
Macao News is an official Macao media partner of BEYOND Expo 2023.
