Deloitte spoke at AmCham Shanghai Healthcare Committee webinar  

The outbreak of COVID-19 is significantly impacting the healthcare industry in China, bringing uncertainties but also opportunities to industry participants. The American Chamber of Commerce in Shanghai (AmCham Shanghai) Healthcare Committee and European Chamber of Commerce in China jointly organized the Healthcare Industry Outlook 2020 webinar on 1 April 2020, gathering senior executives from pharma companies, medical device suppliers, healthcare providers and investors. In a panel discussion after the presentation, we shared insights on the evolving situation, with a recovery on the horizon.

Deloitte China Life Sciences & Health Care Industry Leader Jens Ewert and Consulting Director David Xie were invited to share the key findings from our latest survey in response to the COVID-19 outbreak, which covered 104 leading pharma companies in China, as well as six predictions for the industry in China as a whole  in 2020.

While unsurprisingly, 90% of survey respondents have implemented flexible work arrangements, other business issues highlighted included an inability to conduct Marketing & Sales activities, along with supply chain & logistics issues, during the peak of the crisis. Looking ahead, adjusting to new business channel models and embracing digital solutions and technologies are top of mind among all respondents.

Jens Ewert pointed out, "New ways of marketing and business channels will emerge with the adoption of digital technologies. Furthermore, value distribution across the value chain of the industry will change and more resources will be allocated to better compensate all levels of medical staff and healthcare services."

Introducing the Deloitte's Future of Health model and vision for China, David Xie added, "The coronavirus outbreak will likely lead to profound changes to the dynamics of the industry and accelerate the transformation of China's healthcare system. Beyond reviewing the 1st line of defense set-up in primary care, powered by radically interoperable data, the future ecosystem needs to be able to deliver a personalized and seamless patient experience across the entire treatment journey."

During the panel discussion session, when asked whether foreign players will have a sustained role in the China market, Jens and David noted that the government and healthcare administrations will continue to encourage innovative solutions and technologies in the Life Sciences & Healthcare sector. China-relevant solutions and innovation tailored to local patient and consumer demand will remain critical.

Related link:

【Replay】AmCham Shanghai Healthcare Industry Outlook 2020 webinar (Registration requires)

【Report】Six predictions for China's pharma & healthcare sector

Snapshot survey of COVID-19 impact on China's pharma industry