Mapping China's healthcare industry

Those interested in the current situation of the healthcare industry in China no longer need to depend on statistics collected manually, fearing that the data would not be up-to-date. With the help of big data and artificial intelligence, AI, a digital map can offer everything about the medical field.

In just one click, the digital map offers users all the information related to the medical industry within a specific region in China, including different types of medical enterprises, innovative demonstration areas, high-end talents in the area, the latest medical products, as well as the financing condition in each medical field.

The digital map launched by Firestone Inventing, a consulting company specializing in the medical industry, is the first product in China to present statistics about the healthcare industry by itself. Using big data and AI techniques, the data are updated automatically, which greatly liberates the labor forces and improves the accuracy of information.

The product was first launched in Changping district in Beijing on Tuesday. The database stored in the map demonstrated that by now, there are 2,393 medical-related enterprises in the area. Among them, 1,269 manufacture medical equipment, 845 offer medical services, while 196 produce bio-pharmaceuticals. Meanwhile, up to 69 professionals have been attracted to the region, 10 of which are listed among China's "1000 Talent Plan".

"With the help of the digital map, Changping district will attract financing and high-end talents to the healthcare industry, building the area into an ideal place for medical scientific innovation," said Su Guiguang, vice-director of Changping district.

In 2016, the State Council launched "Healthy China 2030", a guideline that suggested that by 2020, the total volume of the healthcare industry in China will surpass 8 trillion yuan ($1.2 trillion), and the figure is estimated to reach 16 trillion yuan by 2030. The healthcare industry has become a strategic pillar industry and a large amount of capital is flowing into the sector.

"The digital map based on location services, was invented to help the government adjust its industrial chains and realize accurate positioning. In this way, local authorities can carry out more scientific guidelines and attract capital and talents based on the guidelines, boosting the development of the healthcare industry in China," said Yang Hongfei, chief executive officer of Firestone.

According to the company, the product will be applied to every area in China soon.

Zhang Yidan, an analyst specializing in the medical industry at Beijing-based research company Analysys, said that using big data, the processing efficiency and malleability of information are improved to a large extent, which is beneficial to both the investors and the enterprises related to the field.

"The investors may find it easier to make their decisions, while the enterprises can make wiser strategic plans. In this way, the digital map will boost the development of medical industry in China," she added.