China’s Big Health Market is Fastly Evolving
Upon hearing that Wuhan was closed down due to the pandemic, Beijing Haoyue Consulting Service Co., Ltd. immediately launched an online survey of more than 300 practitioners from well-known investment institutions. The survey discovered that 39.38% of respondents believed their company will slow down their investments. However, the development of the “big health”market has far exceeded the expectations of all these investment institutions.
Under the pandemic, the value of the medical and health industry has become more prominent. Hillhouse Capital said that it will continue to increase investments in this sector. It is believed that Hillhouse only invests in outstanding companies in various medical segments. Whether this is involves the improvement of virus prevention measures or the crazy inflow of capital, the medical and health industry is entering into a whole new stage. With corporate ambitions and institutional investments, China’s trillion dollar medical giants are on their way.
Health Management Apps for Diabetics, A New Market Waiting to be Explored
There has been a big battle in the field of health management apps for diabetics. Although this has made history, in 2020 internet giants JD Health and Baidu Health are entering this field again. Now, there will be throat-cutting competition. The continuous penetration of internet companies into this sector has made the current competition even more fierce. Hospitals, doctors, and data are core resources that many are scrambling for.
Even internet giants like Tencent, JD.com, and Alibaba cannot guarantee that they will win the final victory. It is estimated that by 2025 the number of people diagnosed with diabetes in China may exceed 140 million. The diabetes health management market will become very large. Yet companies are still exploring how to make money out of it. Some industry insiders said that the entire industry is still in its early stages of development and opportunities are open to newcomers.
Competition for COVID-19 Vaccine Developments is Coming to An End
More and more people are going to be vaccinated with the COVID-19 vaccine. But not one vaccine has actually been approved for markets. At the same time, more than 200 novel coronavirus vaccines are being researched and developed around the world. Hundreds of thousands of volunteers have joined these trials.
Judging from the situation in many parts of China, medical personnel, as well as special personnel guaranteeing city operations, are open to taking emergency vaccinations. Since at least June 17th, some central enterprises have provided employees with the opportunity to voluntarily sign up for COVID-19 vaccinations. According to one person from a central enterprise, this is due to the needs of foreign-related work because of the higher risks for overseas tasks. Regarding a realistic timetable for a wide range of people who can be vaccinated, domestic experts and vaccine manufacturers interviewed by Caijing reporters predict that this will probably take place sometime this November or December.
Lobbying in China’s Pharmaceutical Industry is Looking for Radical Changes
Whenever a new policy is introduced, the staff of the government affairs department of a pharmaceutical company must visit their key customers as soon as possible. Any small detail in the communication with these customers may affect the sales of a drug. The main task of the government affairs department within pharmaceutical companies is to maintain the “government” relationship. More specifically, their job is to lobby policy makers to let them understand the ideas advocated by the company.
Looking back ten years ago, if the government affairs department of a company had 20 people, it could be regarded as a large team in the industry. It has become one of the top sales and marketing departments in any company. The development of the government affairs department reflects the changes in China’s pharmaceutical policy. In the future, policy adjustments will become more open and transparent. The existing lobbying methods may not work anymore, and the channels left for enterprises to “lobby” will decrease.