Summit tracks evolution of health industry

Driven by the development of new technologies and new business modes, China's health industry is rapidly evolving in a diversified, multi-dimensional manner, and niche markets in the industry tend to integrate with each other, industry experts said.

Wang Bin, president of Beijing-based think tank EqualOcean, said during the 2021 China Healthcare Summit the trend of China's health industry is integrated innovation and industry convergence.

"Only through the coordination, collaboration and unification of sub-industries can China's health industry achieve innovative breakthroughs," he said.

The summit, jointly held by the Chinese Medical Information and Big Data Association and EqualOcean in Chengdu, will run from Oct 11 to 13.

Qi Xuchun, vice-chairman of the National Committee of the Chinese People‘s Political Consultative Conference, said: "With the deepening of medical reform, China's health industry has entered a rapid development stage. It is experiencing a transformation, where the traditional mode of thinking should be changed, and integrated development should be embraced."

According to EqualOcean, in the epidemic period, investments in China's health industry tend to be solid. In the first three quarters of this year, there were a total of 905 investment deals, with funds raised reaching 88.6 billion yuan ($13.7 billion). In 2020, there were a total of 750 investment deals worth 104.8 billion yuan.

EqualOcean Healthcare, a subsidiary of EqualOcean, said the high barriers of the health industry, as well as the variability and complexity of the development of science and technology, have shown innovation in the medical and health industry must be based on collaboration, cooperation and integration.

The interaction and integration between technology and industry and within industries will also be a trend, EqualOcean Healthcare said.

During the summit, the Chinese Medical Information and Big Data Association and EqualOcean reached strategic partnerships with the Fourth and the Sixth People's Hospitals of Chengdu to promote scientific cooperation and industrial integration and further build a "Healthy Chengdu".