Half year inventory of 2015: The golden period of the pharmaceutical industry has passed, and medical services and devices have become investment hotspots

In the past decade, driven by the government's increased investment in the healthcare industry, the Chinese healthcare market has experienced a rapid development stage. With the continuous progress of healthcare reform, the pattern of the Chinese healthcare market will undergo fundamental changes. The Qingke Research Center believes that the overall pharmaceutical industry will continue to grow rapidly in the future, but the structure will be more optimized. Since the launch of the new healthcare reform, governments at all levels have increased investment in the construction of medical facilities and equipment updates, coupled with the steady increase in the number of medical services and treatments in China, the Chinese medical device market has ushered in a rapidly developing era. Fundamentally solving the problem of relying on medicine to support medicine will inevitably force the price of medical services to increase. Strong demand and favorable policies will promote the rapid growth of the medical service industry, and mobile healthcare will drive the development of medical services and related medical device sub sectors.

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

Under the continuous promotion of aging population, changes in disease spectrum, and upgrading of medication, the growth trend of the biopharmaceutical industry in the medium to long term remains unchanged. However, in the short to medium term, the impact of medical insurance cost control, bidding price reduction, administrative price reduction, and efficiency of new drug approval on industry development is more profound; Although the regulatory policies of the pharmaceutical industry by the government are complex and varied, the industry trends guided by policy changes are still relatively clear, such as strengthening the rationality of drug use, encouraging the import substitution of high generic drugs, and prioritizing the evaluation and optimization of industry competition patterns for clinically urgently needed generic drugs.

Policy benefits and market demand drive medical devices onto the fast lane of development

Since the launch of the new healthcare reform in 2009, governments at all levels have increased investment in the construction of medical facilities and equipment updates, coupled with the steady increase in the number of medical services and treatments in China, the Chinese medical device market has ushered in a rapidly developing era. With the improvement of relevant regulatory provisions, the Chinese government's policy guidance for the director of the medical device industry has become increasingly clear, which is to gradually improve regulatory efficiency, encourage innovation, especially domestic key innovation, and strengthen quality and safety.

Medical services are the focus of healthcare reform, and mobile healthcare will drive the development of related industries

The biggest advantage in the process of healthcare reform is privatization (i.e. the restructuring of public hospitals), and medical services will continue to benefit from the institutional dividends brought about by industry changes over a longer period of time. At present, the overall proportion of medical services in the healthcare industry is relatively low, and there is basically no policy resistance. The policy environment is better than that of the pharmaceutical industry, and there is huge potential for the future. Under the high growth trend of the mobile healthcare market, the evolution from horizontal applications to vertical solutions that connect the value chain of mobile healthcare services will become the direction of industry development.