China's medical device industry has grown at a compound annual growth rate of 10.54% over the past five years and has become the second largest market in the world.

The US Food and Drug Administration (FDA) has granted breakthrough device designation to CanScan, the multi-cancer early detection solution by Canadian medtech Geneseeq.

On 8 December, Zhejiang Healthcare Security Administration issued a notice on managing and encouraging the breakthrough medical technology.

Biotech company AnchorDx has entered into a long-term partnership with molecular diagnostics firm DiaCarta to develop and commercialize cancer diagnostic products for the global market.

As of October 12, 2023, a total of 231 breakthrough medical devices have been approved in China, including 24 IVD products.