Future Healthcare Rankings in China Top Ten Innovative Medical and Health Services Companies in 2025

Notes:

1. The information provided in this list is updated as of April 30, 2025. Financing events occurring on or after April 30 are not included or reflected.

2. The selection criteria for this list primarily cover R&D and manufacturing enterprises of medical devices, medical consumables, and in-vitro diagnostic products, as well as enterprises that independently conduct R&D in innovative medical devices and intelligent manufacturing products supported by digital technologies (cloud computing, big data, artificial intelligence, etc.). This includes, but is not limited to, high-value consumables (cardiovascular/orthopedic/ophthalmic/dental/neurological/blood purification/non-vascular intervention, etc.), low-value consumables (medical sanitary materials and dressings/anesthesia/disinfection/injection and puncture, etc.), medical equipment (imaging/monitoring/radiotherapy/physical and chemical/dialysis/laser/surgery/rehabilitation, etc.), home medical equipment (blood pressure monitors/blood glucose meters/ventilators/oxygen concentrators/massagers, etc.), AI medical equipment (smart wearables/AI medical imaging, etc.), medical robots (surgical robots/rehabilitation robots, etc.), and in-vitro diagnostics (biochemical/immunodiagnostics/molecular/POCT/microbiological/blood diagnostics, etc.) related enterprises.

3. This list is based on the VB100 of VCBeat value assessment model, referencing the following two dimensions of company information: one is the latest round of valuation (80%); the other is the company's growth potential (20%), which includes four primary resources indicators: human, knowledge, important partner, and market performance, with a total of 17 secondary indicators.

4. This list focuses on the innovations and breakthroughs of companies in technology and products.

5. The basic information of the companies on this list comes from the VCBeat database and other public information channels.

6. The latest valuations of the companies on this list come from channels such as the VCBeat database, business information calculations, and expert cross-validation.

7. This list is sorted by the latest round of valuation. Companies with the same valuation are sorted alphabetically by company name; if the valuation and alphabetical order are the same, they are sorted by the founding time of the company.

8. For companies valued in USD, the RMB valuation for this year is converted at an exchange rate of 1:7.34.

9. Some unicorn companies are not on the list because they do not disclose their valuation, and some innovative companies use the valuation data from the previous round due to data sensitivity.

10. As a third-party independent research institution, VCBeat produces and publishes this list based on the principles of fairness and justice, striving for but not guaranteeing the accuracy and completeness of the information. This list does not constitute investment advice, please refer to it appropriately. VCBeat has the sole right to interpret this list.