China Japan medtech sector: 2026 China/Japan medtech tour takeaways

研报英文原文证据摘录

China Japan medtech sector: 2026 China/Japan medtech tour takeaways

Global Research

15 June 2026ab

China Japan medtech sector Equities

Japan2026 China/Japan medtech tour takeaways

Healthcare

Tomoko Yoshihara

Takeaways from our cross-border tour: China Analyst

We visited eight Chinese companies in our 2026 China/Japan medtech tour (Jun 4-9), tomoko.yoshihara@ubs.com

incl. Mindray, United Imaging, New Industries, APT Medical, Yuyue Medical, MGI Tech, +81-3-5208 6212

SonoScape,Aohua (not covered). In addition, we hosted two expert lunch meetings on Jun Deng

Brain-Computer Interface (BCI) and vascular interventional products. We noted a Analyst

marginal improvement in investor sentiment towards the sector, with multiple global/ jun.deng@ubs.com

domestic long-only investors joining the tour. However, in terms of business +852-3712 2103

fundamentals, we still see challenges from policy headwinds in China. For capital Emma Ma, CFA

equipment, the recent anti-corruption efforts and deceleration of local government Associate

bond issuance led to weakness in hospital procurement, as confirmed by United Imaging S1460124070003

and Sonoscape, although it might take some time to be reflected in companies' emma-mc.ma@ubs.com

earnings. On consumables, our expert believes this segment will be impacted by anti- +86-21-3866 8981

corruption, especially for new products sales ramp. That said, companies like APT Henry Liu, CFA

Medical have not yet noted meaningful impact and largely reiterated 2026 guidance. Analyst

For IVD, the policy environment seems stable given no updates on testing fee S1460520110002

standardisation yet. Consequently, companies like New Industries expects modest henry-za.liu@ubs.com

+86-105-832 8509

growth for China business in this quarter.