The Chinese healthcare industry is experiencing a tremendous change due to macro-environmental factors which are challenging the growth and profitability of healthcare enterprises. In view of external economic environmental influences, the COVID-19 pandemic has disrupted the stability of R&D and the supply chain of pharmaceutical and medical device enterprises, subsequently reforming traditional marketing distribution channels and reshaping the demand-perception B2B and B2C markets, forcing enterprises to improve their market business strategies to cope with the changes.
Environmental policy has provided regulatory guidance to promote structural reform of the healthcare industry’s supply chain. Regulators aim to control medical insurance costs by introducing Diagnosis-Related Group (DRG) reform and regular Volume-Based Procurement (VBP) to boost artificial intelligence (AI) in the healthcare industry, facilitating enterprises to reduce costs, increase efficiency, and drive innovation. In the technical environment, where new technologies such as big data and AI have advanced significantly, these contributions to the healthcare industry have provided new impetus for growth.
State-of-the-art AI technologies are integrated in the healthcare industry as a driving force to improve healthcare-related products and services, featuring wide applications such as computer vision (CV), natural language processing (NLP), and machine learning (ML). Confronted with changes in the economic, policy, and technological environment, the healthcare industry should be cognizant of the changes brought by artificial intelligence and machine learning (AI/ML) to the R&D, production, and distribution of products and services, as well as the great growth potential in new healthcare application scenarios from these technologies.