Index provider Solactive writes that the medical technology industry is a vital component of the healthcare sector, encompassing various innovative medical devices for disease prevention, diagnosis, and treatment.
According to Statista, the forecast is that the industry will grow at an annual rate of 4.73 per cent between 2023 and 2028, resulting in a market volume of USD719 billion at the end of this period. While the United States and Western Europe are considered established centres, emerging industry trends indicate that particularly China will gain importance in the upcoming years, growing at rates above 7 per cent. To capture this market opportunity, Solative writes that Mirae Asset Global Investments Hong Kong has launched the Global X China MedTech ETF, which tracks the Solactive China MedTech Index.
The ETF was listed on 4 August 2023 on the Hong Kong Stock Exchange under stock code 2841.
The Solactive China MedTech Index represents the top 30 Mainland China or Hong Kong-headquartered companies that are active in the medical technology industry, listed in Shanghai, Shenzhen, Hong Kong, and the United States. Companies must be categorized under distinct industry classifications, such as medical specialties, analytical and bioanalytical services, clinical diagnostics devices, specialised medical devices, and system-specific general medical devices, among others.
Timo Pfeiffer, Chief Markets Officer at Solactive, says: “The Med-tech industry’s remarkable progress is propelling healthcare into a new era, and Asia’s surge, led by China, will likely redefine the landscape. Demographic shifts such as our ageing society drive rapid developments within our healthcare systems and increase the need for ever more technology to be invented and deployed. As innovation is persistent in Solactive’s DNA, we remain committed to offering products representing cutting-edge topics. We are proud to be part of Mirae Asset’s endeavours to capture the Med-tech industry’s vast market potential and look forward to ongoing collaborations in Hong Kong and beyond.”
Wanyoun CHO, Chief Executive Officer of Mirae Asset Global Investments (Hong Kong) Limited, says: “Mirae Asset is committed to providing investors with access to powerful and long-term disruptive trends. With the launch of our Global X China MedTech ETF (2841), we are excited to offer investors a unique opportunity to tap into China’s rapidly-growing medical device market and gain exposure to the innovative Chinese companies at the forefront of medical technology. This new addition to our suite of thematic ETFs reinforces our commitment to meeting the increasing demand for innovative and thematic investment products. We look forward to continuing our collaboration with Solactive, a trusted index provider that shares our commitment to innovation and cutting-edge topics.”