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Analysts said the weakening trend may continue into next year amid overall economic growth easing.

An upside-down truck, an astronaut floating in the air between a chair and a flower pot, and a hot water bottle with feet — these are just some of the quirky works of art featured at the Jing'an International Sculpture Project (JISP) which urge people to view life in another perspective.

Analysts said cooperation among China Eastern, Air France-KLM and Delta will broaden their growth potential in the fast-growing travel markets in China, Europe and the US.

And the capital market also favored the sector. A recent report from Equal Ocean showed that in 2018, China's medical startups attracted a total investment of .7 billion, taking up 7.14 percent of global investment. The figure doubled to .5 billion in 2019, accounting for 11.61 percent of global investment.

Analysts said such a figure makes it difficult for any player to see scale effects, and costly new technological possibilities are emerging, making the idea of "minding one's own business" obsolete.