On April 19, Mindray released its 2021 annual financial results and sets its goal to be ranked as the top 20 global manufacturer of medical devices.
Standing at the top position with an unbeatable valuation in China's healthcare industry, the Shenzhen-based medical company Mindray (迈瑞医疗) is a global medical instrumentation developer and manufacture that designs and produces medical equipment and accessories for both human and veterinary use.
Since 2021, China's new medical infrastructure has continued to advance with high-quality development of public hospitals. This new landscape further drives the increase in demand of medical devices and other IT-based technological solutions. Mindray's medical devices are widely adopted by top medical institutions in China, and the company therefore has gained a wide recognition in a national scale.
At present, Mindray's products cover nearly 110,000 medical institutions and more than 99% of the tertiary hospitals in China with a high product penetration rate. During the reporting period in 2021, the company's market share of monitors, ventilators, defibrillators, anesthesia machines, infusion pumps and light bed towers was ranked the first in China. Noticeably, the company's blood cell and ultrasound business overtook imported brands for the first time to become the first and second in China.
Internationally, Mindray achieved a breakthrough of more than 700 global high-end customer base in 2020, further acquiring more than 730 global high-end customer bases in North America, Europe, and emerging country markets. The company also achieved a horizontal breakthrough of 700 products of the existing high-end customer base.
Moreover, the company has established an research and development innovation platform based on global resource allocation, with t10 R&D centers and a total of 3,492 R&D engineers located in Shenzhen, Wuhan, Nanjing, Beijing, Xi'an, Chengdu, Silicon Valley, New Jersey, Seattle and Europe. In 2021, the company implemented the construction of Wuhan Research Institute project that will become the second largest R&D center. In the upcoming future, Mindray will firmly grasp the important strategic opportunity in the new development stage and move forward in the pursuit of excellence as one of the Top 20 Global medical devices providers