Intromedic Receives CFDA Approval for Capsule Endoscopy... "Launching Full-Scale Entry into the 4 Trillion KRW Chinese Market"

[Asia Economy Reporter Yoo Hyun-seok] IntroMedic, a capsule endoscopy specialist company, announced on the 2nd that it has received medical device approval from the China Food and Drug Administration (CFDA) for two types of capsule endoscopes (MC-1200ST, MC-1600ST).

The newly approved products have a wider field of view compared to the existing capsule endoscope (MC-1000ST) sold in China, and the convenience of real-time video monitoring via the receiver has been improved. In the case of the MC-1600ST, the number of frames captured per second has also increased, allowing more information to be received from inside the digestive tract.

IntroMedic plans to strengthen its market share in the Chinese capsule endoscopy market through sales of the new products.

According to the China Zhongshang Industry Research Institute, the Chinese capsule endoscopy market is expected to have rapidly grown from 10 billion yuan (approximately 1.696 trillion KRW) in 2016 to 25 billion yuan (approximately 4.24 trillion KRW) in 2019.

China has a high need for early cancer diagnosis to alleviate the financial burden of health insurance premiums. Capsule endoscopy is in particularly high demand due to its lower risk of cross-infection depending on medical staff.

An IntroMedic official stated, "The Chinese medical device market is rapidly growing due to the government's introduction of smart medical policies, and interest in capsule endoscopy is also high," adding, "Since the new products require program updates and simultaneous replacement of receivers, a positive impact on sales growth is expected."

Meanwhile, IntroMedic has established a capsule endoscopy factory in Taizhou City, Jiangsu Province, China, capable of producing 300,000 units annually, in partnership with its Chinese distributor, ‘Lichen Force Science & Technology’.

This content was produced with the assistance of AI translation services.