Healthcare Sep 10, 2020 12:42 PM (GMT+8) · EqualOcean
WeMed announced the close of Series C+ fundraising of CNY 100 million. GL Ventures exclusively led the investment. The bankroll is expected to use brand building, product promotion and reach in niche segments. Founded in 2014, the company is the only equipment provider in the interventional diagnosis and treatment. The startup team owns over 15-years of industry experience in digital angiography suit. The market size for global angiography equipment was estimated at USD 9.77 billion and expected to reach USD 13.06 billion in 2023, by Market and Markets. According to an investigation by the China Association of Medical Equipment, in 2017, only 4,387 digital subtraction angiography (DSA) equipment were installed in 2,697 hospitals nationwide, which only accounted for 8.6% hospitals in China. It means that in 2017, the market demand was 51,012 suits. If the hospitals increase at a CAGR of 5%-10%, then the current market potential in 2020 is estimated as 59,053- 67,896 suits.