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Social and Infrastructure Analysis for the Chinese Healthcare Industry 2010
Frost & Sullivan, April 2009, Pages: 36
Healthcare for all and improvement in the healthcare system are the current key goals of the Chinese government. The government's healthcare programs and other initiatives taken over the years have resulted in leading healthcare indicators show a positive trend. The healthcare infrastructure and healthcare services are improving the country. However, certain non communicable and lifestyle related diseases continue to pose a threat for the country. China’s fast ageing population is expected to result in a drastic rise in demand for healthcare services over the next two decades. The country industry forecast gives an in-depth analysis of the dynamics of Chinese social environment and its impact on its healthcare industry.
The Chinese healthcare industry functions through the joint efforts of the public and private sectors. While the majority of the funding comes from the private sector, the public health institutions provide infrastructure and services. Healthcare in China is divided into urban and rural health insurance system. The urban employees can obtain basic healthcare services using the New Basic Insurance System (BIS), whereby both the employee and employer contribute to the premium. Similarly, people living in the rural regions can also gain access to healthcare services through the Rural Co-Operative Medical System (RCMS), which was co-founded by both the rural population and the government. The Government is also actively working on offering insurance cover to non-workers such as students and the self employed. Further, it announced a fiscal stimulus package in response to the recent economic downturn and allocated $5.00 billion to medical care and education. It unveiled a new medical reform plan and set apart $124.00 billion to continue providing universal healthcare and basic health services to all, as well as improve rural healthcare infrastructure. Between 2009 and 2011, the country aims to improve basic medical insurance coverage, improve hospitals services, and make healthcare more affordable to the public.
On the back of all these efforts, the leading healthcare indicators in China have picked up over the years, with life expectancy increasing and infant mortality rate dropping. The overall health status continues to improve, mostly in the urban areas due to preventive health programs and government initiatives to make basic health services accessible to all. However, the Government will have to prepare for a drastic shift in demographics, as China has one of the fastest aging populations in the world, which will leave it with a disproportionate number of elderly nonworking people to young working individuals. The country's healthcare expenditure for the former age group is expected to rise significantly in the future, creating considerable challenges for the country’s healthcare system. China is also dealing with the uneven distribution of healthcare resources. For instance, there are more than twice as many doctors in the urban areas than are in the rural areas. Similarly, nurses have concentrated presence in the big cities, while other regions face critical shortage of nursing staff.
Although several vital issues challenge the healthcare industry in China, participants will feel heartened by the country’s growing popularity as a medical tourism destination, following the improvements in healthcare infrastructure, presence of talented physicians, and low-cost treatments. The country is famous for traditional treatment methods such as cupping, acupuncture, and massage. China is also an attractive location for clinical trials because of the prevalence of both communicable and non-communicable diseases and easy and faster patient recruitment. In addition, the healthcare professionals are talented and usually willing to participate in the trials.
Frost & Sullivan’s Healthcare Country Industry Forecast service provides vital inputs for evaluating the attractiveness of a country and its healthcare industry. Besides enabling decision makers to assess the impact of non-market forces, it also helps in identifying new market opportunities. This service provides a strong base for preparing contingency plans. In addition, investors can assess industry-specific risk factors as well as conduct a more in-depth micro research.
Benefits
Expert Frost & Sullivan analysts thoroughly examine the following benefits in this research:
Identifying New Market Opportunities
The future trends and developments in the Chinese healthcare industry have been identified by analyzing the social environment of the country as well as the global industry trends. This analysis will provide valuable information to industry participants, which will aid in seizing strategic market opportunities.
Understand Future Industry Trends
The research will enable industry participants to gauge the trends in their respective markets and thereby, enable them to devise appropriate market strategies to improve their market shares.
Comprehend Social and Infrastructure Environment
A detailed analysis of the social and healthcare framework of the Chinese healthcare industry is provided for insights into the social environment as it exists and the future direction of the same.
Evaluate Industry Segment Potential
The analysis of the segments of the healthcare industry along with a discussion of its vertical market segments provides details of the trends and forecasts for the healthcare industry as well as an insight in the key indicators and resources. This will help corporate planners in developing accurate business plans and plan company resources.
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