MicroTech Medical (Hangzhou) Co., Ltd.
- Industry
- Medical Devices
- Founded Year
- 2011
- Headquarters
- No. 108 Liuze Street, Cangqian Street, Yuhang District, Hangzhou, Zhejiang, China
- Employee Count
- 678
Key People
- Dr. Pan Zheng - Executive Chairman and Chief Executive Officer
- Xiu Liu - Executive Director and Financial Controller
- Dr. Fei Yu - Chief Technology Officer and Executive Director
- Dr. Yonghui Shi - Senior Vice President, Chief Strategy and Development Officer, Joint Company Secretary and Executive Director
-
Fangling Xu - Vice President and Head of Administration Department
Email: fangling.xu@microtechmd.com
- Yi Lan - Vice President of Marketing
- Pik Man Chu - Joint Company Secretary
Assessment
- Team
-
Aspect: Multiple successful MedTech entrepreneurs
Summary: The leadership team comprises experienced professionals with significant expertise in the medical device industry.
Dr. Pan Zheng, the Executive Chairman and CEO, along with other key executives, bring extensive experience in medical device development and commercialization, positioning the company for sustained growth and innovation.
- Clinical Need
-
Aspect: Very Strong
Summary: The company's focus on diabetes management addresses a critical and growing global health issue.
With diabetes affecting millions globally, the demand for innovative monitoring and treatment devices is substantial, providing a robust market for the company's products.
- Competition
-
Aspect: Very crowded + Strategics
Summary: The diabetes management device market is highly competitive, with numerous established players.
Major companies like Medtronic, Abbott, and Dexcom dominate the diabetes device market, posing significant challenges for new entrants in terms of market share and brand recognition.
- Technical Challenge
-
Aspect: Moderate
Summary: Developing advanced diabetes management devices involves moderate technical challenges.
The development of insulin pumps and continuous glucose monitors requires integration of biosensors, software, and hardware, presenting moderate technical challenges that the company is equipped to handle.
- Patent
-
Aspect: Strong
Summary: The company holds several patents related to diabetes management technologies.
Patents such as those for biosensing systems and cloud-based blood glucose monitoring systems demonstrate the company's commitment to innovation and provide a barrier to entry for competitors.
- Financing
-
Aspect: Well-funded
Summary: The company has secured substantial funding from reputable investors.
Investments from entities like Eli Lilly, Tencent, and IDG Capital have provided the company with the necessary resources to advance its product pipeline and expand its market presence.
- Regulatory
-
Aspect: 510k/PMA
Summary: The company's products are subject to regulatory approvals such as 510(k) and PMA.
Obtaining regulatory approvals like the FDA's 510(k) or PMA is critical for the commercialization of medical devices, ensuring safety and efficacy standards are met.
Opportunity Rollup
- Odds of Success
- 3.6
- Peak Market Share
- 4.8
- Segment CAGR
- 9.5%
- Market Segment
- Diabetes Management Devices
- Market Sub Segment
- Insulin Pumps and Continuous Glucose Monitors
| Year Post Launch | Market Penetration (%) |
|---|---|
| 1 | 0.24 |
| 2 | 0.72 |
| 3 | 1.68 |
| 4 | 3.36 |
| 5 | 4.80 |
Key Takeaway
MicroTech Medical is well-positioned in the growing diabetes management market, leveraging strong leadership and innovative products, but faces challenges from intense competition and regulatory complexities.