Six predictions for China's pharma & health care sector

To be sure, the immediate response to the COVID-19 outbreak in China is grabbing the headlines—and rightfully so. From tracking employee health to implementing flexible work arrangements, companies are taking a proactive approach to ensure employee safety and sound decision-making as this epidemic rapidly unfolds.

But response is just part of the COVID-19 story in China. According to a Deloitte China survey of 100 leading pharmaceutical executives, the COVID-19 outbreak is also exposing the need for improvements across China's health care system. Indeed, most agree that the coronavirus will lead to profound changes in the dynamics of the China health care sector.

These changes could include massive investment in disease prevention infrastructure and a re-visiting of pharmaceutical companies’ pipeline strategies. Other improvements could focus on creating more patient-centric health care systems and a greater emphasis on the role of community health care centers.

The outbreak will also most likely lead to digital technology playing a greater role in China’s health care—such as the adoption of advanced technology solutions and the acceleration of the digital transformation of health care delivery models. The health care industry will turn to digital technologies and solutions to engage markets as well as in the prevention and monitoring of diseases, including the use of AI-based diagnostics and tools.

In the long run, the COVID-19 outbreak can serve as a catalyst for the transformation of China's health care system. In fact, many health care game changers down the road will probably be traced back to this event. As such, it is imperative that ecosystem players anticipate and seek out emerging opportunities for change.

To learn more about potential changes in China’s health care system post-coronavirus, see Deloitte’s Six predictions for China's pharma & health care sector.