In the past decade, driven by the government's increased investment in the medical and health industry, China's medical and health market has experienced a stage of rapid development. With the continuous implementation of medical reform, the pattern of China's medical market will have fundamental changes. Zero2IPO Research Center believes that the pharmaceutical industry as a whole will maintain rapid growth in the future, but the structure will be more optimized. Since the launch of the new medical reform, governments at all levels have increased investment in the construction of medical facilities and equipment upgrading, coupled with the steady rise in the volume of medical services in China, China's medical device market has ushered in an era of rapid development. To fundamentally solve the problem of supporting doctors with drugs will be forced to raise the price of medical services. Strong demand and favorable policies will promote the rapid growth of the medical service industry, and mobile medicine will drive the development of medical services and related medical device segments.

The golden age of the pharmaceutical industry has passed, and policy dividends are the key

Under the continuous promotion of population aging, disease spectrum change and drug upgrading, the medium and long-term growth trend of the biomedical industry remains unchanged, but in the short and medium term, the control of medical insurance fees, bidding and price reduction, administrative price reduction, and the efficiency of new drug approval have a more profound impact on the development of the industry; Although the national regulatory policies for the pharmaceutical industry are complex and changeable, the industry trends behind the policy changes are still relatively clear, such as strengthening the rationality of drug use, encouraging the import substitution of high generic drugs, giving priority to the evaluation of clinically urgently needed generic drugs, and optimizing the industry competition pattern.

Favorable policies & market demand, medical devices drive into the fast lane of development

Since the launch of the new medical reform in 2009, governments at all levels have increased investment in the construction of medical facilities and equipment upgrading, coupled with the steady rise in the volume of medical services in China, China's medical device market has ushered in an era of rapid development. With the improvement of relevant laws and regulations, the policy guidance of the Chinese government in the director of the medical device industry has become clearer, that is, gradually improve the regulatory efficiency, encourage innovation, especially domestic key innovation, and strengthen quality and safety.

Medical service is medical reform, and mobile medicine will drive the development of related industries

In the process of medical reform, privatization (i.e. the restructuring of public hospitals) is a major benefit, and medical services will continue to benefit from the institutional dividends brought by the industrial reform in this long cycle. At present, medical services account for a relatively low proportion in the medical and health industry as a whole, and there is basically no policy resistance. The policy environment is better than the pharmaceutical industry, and there is a huge space for the future. Under the high growth trend of the mobile medical market, the evolution from horizontal applications to vertical solutions that open up the value chain of mobile medical services will become the development direction of the industry.