Driven by strong demand for intelligent blood glucose management, Medtrum's overseas revenue surged by 227.2%

Following the success of innovative drugs, the overseas expansion of medical devices is entering a period of explosive growth. According to data from Zhiyan Consulting, from January to April 2026, the export value of Chinese medical instruments and devices reached $7.09 billion, a year-on-year increase of 12.40%.

Among them, the overseas expansion trend of the continuous glucose monitor (CGM) category can be regarded as a typical industry sample that has evolved from "import substitution" to global breakthrough. CGM, scientifically known as the "continuous glucose monitoring system," can continuously monitor the changes in human blood sugar. As "blood sugar control" has become a popular lifestyle, CGM has quickly entered the lives of the general public.

Before 2020, the Chinese CGM market was almost monopolized by foreign brands. Since the first domestic CGM product was approved in 2021, domestic brands have not only rapidly increased their market share in the domestic market but also begun to compete head - on with international giants in overseas markets such as Europe.

Microtech Medical, which focuses on the R & D of medical devices for diabetes management, is a typical representative in the wave of CGM overseas expansion. It is also one of the few CGM manufacturers that have both insulin pumps and CGM products. In 2025, Microtech Medical achieved a revenue of 661 million yuan, a year - on - year increase of 91.20%, and a net profit of 40.15 million yuan, achieving its first profit.

What is more worthy of attention behind the growth is the rapid expansion of Microtech Medical's overseas business. In 2025, its overseas revenue reached 343 million yuan, a year - on - year increase of 227.20%, and the scale exceeded domestic revenue for the first time.

1. Covering diabetes management categories from treatment to monitoring

In the past, traditional insulin pumps used by diabetics were mainly tube - type, which needed to be carried around and connected to an indwelling needle on the abdomen through a catheter, making them inconvenient to carry.

Microtech Medical's patch - type insulin pump integrates components such as the motor, medicine reservoir, drive system, and infusion needle into a micro - device weighing only 23 grams. It can directly infuse insulin on demand and achieve precise control of the injection volume.

Microtech Medical's patch - type insulin pump

With this product, Microtech Medical quickly opened the door to the diabetes management category. In 2021, Microtech Medical's blood glucose monitoring product, AiDEX G7, began commercial sales both in China and overseas, bringing nearly 4 million yuan in operating income to the company that year.

Also in 2021, Microtech Medical successfully listed on the Hong Kong Stock Exchange, with a total revenue of 151 million yuan that year.

By 2024, the CGM business had become the main growth driver for Microtech Medical. According to the company's financial report, in 2024, CGM revenue accounted for 52.2%, reaching 180 million yuan; in 2025, the CGM business accounted for 68.30%, with a revenue of 452 million yuan.

The growth of Microtech Medical's CGM business is largely driven by the popularization of the "blood sugar control" concept among the public in recent years. Blood glucose monitoring instruments, which were originally only used by diabetics, have become as essential as fitness watches for health - conscious people. Data from Magic Mirror Insights shows that in 2025, the sales of CGM on domestic online e - commerce platforms were approximately 1.54 billion yuan, with a year - on - year growth rate of 45.8%. In overseas mature markets, users of active blood glucose management already account for 10% of CGM users.

In order to allow more users to access and use CGM, Microtech Medical has been continuously conducting marketing promotions in recent years. For example, in 2025, it sponsored large - scale events such as the Tonglu Half Marathon and the Chengdu Marathon, inviting participants to try on CGM products and observe real - time blood sugar changes during the race; it also cooperated with Tims Coffee to promote the "coffee + blood glucose monitoring" combination to reach more young people.

Currently, artificial pancreas products are a new direction that Microtech Medical is actively exploring. The first domestic product is expected to be launched before the end of this year. According to Shi Yonghui, Executive Director, Senior Vice - President, and Chief Strategy Development Officer of Microtech Medical, this product combines an insulin pump with a CGM. The CGM monitors blood sugar in real - time, a self - developed AI algorithm calculates the required insulin dose, and the insulin pump automatically injects and precisely infuses the insulin. This artificial pancreas product is mainly distributed through hospital channels, and the first - time use needs to be completed in a hospital.

In addition, Microtech Medical will continue to launch a new CGM model this year, which will be more affordable compared to the existing product line.

2. Passing the CE certification and accessing the medical insurance system, overseas revenue grows by 227%

Microtech Medical's overseas expansion has almost occurred simultaneously with its domestic market development. In 2017 and 2020, Microtech Medical's insulin pump and CGM products respectively obtained the EU CE certification. "After obtaining the EU CE certification, when entering markets in the Middle East, Southeast Asia, Latin America, etc., the subsequent registration threshold will be much lower, which can accelerate market access," Shi Yonghui explained.

Since 2021, Microtech Medical has established marketing teams in major regions such as Europe, the Americas, and the Asia - Pacific, building a global organizational framework.

Obtaining the CE certification is just an entry ticket. Entering the local medical insurance market is the key to large - scale commercialization, which requires supplementing local clinical data, collecting questionnaires from doctors and experts, and conducting comparative evaluations with international brands. Microtech Medical first entered the clinical markets in Eastern Europe, such as Italy, Poland, and Romania, and cooperated with local CRO companies to supplement clinical data. It also preferred to cooperate with doctors from local well - recognized hospitals to gain more trust for medical insurance access and then gradually expanded to developed Western European countries such as Germany, the Netherlands, and the UK.

Microtech Medical's continuous glucose monitor

In the European market, Microtech Medical adopts a flexible multi - brand strategy: in the medical insurance market and hospital channels, it can launch joint brands with local large - scale distributors; in the consumer retail market, it uses its own brand, mainly sold through e - commerce platforms such as Amazon.

Shi Yonghui explained this by saying, "Different from the well - developed e - commerce retail market in China, the sales of CGM products in Europe still mainly rely on hospitals and professional distributors. Therefore, a country - specific strategy is needed, and customized adaptation should be made according to the needs of different countries."

Facing competition from Chinese companies, overseas giant enterprises use their first - mover advantage to block Chinese companies with a "patent network." "Patent litigation is one of the compulsory courses for the internationalization of Chinese medical device companies. Chinese companies in other industries (such as mobile phones, sweeping robots, and endoscopes) have already gone through similar stages and finally managed to break through," Shi Yonghui said. In the face of patent sniping from giants, Microtech Medical continuously upgrades its product design to avoid the patent blockade of overseas giants at the root and also continuously lays out its own innovative invention patents.

In 2025, Microtech Medical's revenue reached 661 million yuan, a year - on - year increase of 91.20%; its overseas revenue was 343 million yuan, a year - on - year increase of 227.20%, accounting for more than domestic revenue for the first time. With the continuous improvement of operating efficiency and the decline of expense ratio, the high growth of both domestic and overseas businesses has driven Microtech Medical to achieve its first profit.

From the perspective of the global CGM market pattern, currently, enterprises capable of independently developing CGM and insulin pumps are mainly concentrated in the United States and China, while other countries and regions lack relevant industrial supporting capabilities.

Europe has always been the main battlefield for fierce competition between Chinese and American companies. Due to the insufficient attention of foreign companies to emerging markets in Africa, Latin America, etc., and their relatively limited investment in local market education and channel construction, Chinese companies have more development opportunities.