Six predictions for China's pharma & healthcare sector
Published: 27 February 2020
A Deloitte China survey (released on Feb.25th) of 100 leading pharmaceutical executives has found most companies are taking a proactive approach to the COVID-19 outbreak, but that the epidemic has also exposed the need for improvements across China's entire healthcare system. The Coronavirus to inspire more patient-centric healthcare system, greater emphasis on role of community healthcare centers.
"Turning to digital technologies and solutions in engaging their markets will accelerate as a result of the COVID-19 outbreak in the country" says Deloitte China Life Sciences & Health Care Industry Leader Jens Ewert, and beyond company specific action, "the outbreak will create much greater emphasis on prevention and monitoring, including the use of AI based diagnostics and tools".
The coronavirus outbreak will likely lead to profound changes to the dynamics of China healthcare industry. These changes could include massive investment in disease prevention infrastructure, the accelerated digital transformation of healthcare delivery models, a re-visiting of pharmaceutical companies pipeline strategies, as well as the adoption of advanced technology healthcare solutions. Deloitte makes six predictions in the report and sets out the implications for industry players.
"We see the COVID-19 outbreak, in the long run, as a catalyst for the transformation of China's healthcare system" adds China Life Sciences & Health Care Consulting Leader Andrew Yu. "If we look back in several years' time, I believe many healthcare game changers will be traced back to this event. It is imperative that ecosystem players anticipate such changes and grasp emerging opportunities."