The health care market in China is full of potential
The healthcare market in China remains to be a promising market while diversifying and growing rapidly. Medical expenditures in China reached 357 billion US dollars in 2011, and are predicted to continue growing up to 1 trillion US dollars by 2020. The healthcare market in China includes both public and private sectors. With at least 95% of its 1.4 billion people covered by basic, government-sponsored health insurance, China ranks only behind the US in total healthcare expenditures. China’s health care industry is projected to be worth $2.4 trillion by 2030, its maturity from infancy will be tied to growing domestic demand and expanding its global reach. Considering the growth and complexity of the healthcare market, daxue consulting is a medical consulting firm in China that can optimize a market strategy.
Some of the key drivers of the health care expenditure in China are rapidly ageing population and its susceptibility to chronic diseases. In addition, Chinese people are willing to spend more money on health care. Chinese are increasingly aware of healthcare because of tight schedules, pressures on work and social interaction. Learn more about consumer research with a medical consulting firm in China
Growing opportunities: Understanding e-commerce with a medical consulting firm in China
The basic industrial structure of medical e-commerce started in 2003 and has developed since. In the first part of 2016, Private digital investment in the health industry has already reached $1.4 billion. Hundreds of online pharmacies and platforms are offering a variety of medicines and health products at a low price and a fast delivery service. In 2016, the Chinese mobile health market was valued at 7 billion RMB and is projected to exceed 10 billion RMB by 2017, with a forecasted growth rate of 74.5%. Examples of E- commerce include pharmaceuticals like YAOTMALL.com and hospital operations and services like haodf. According to Deloitte, it is estimated that about RMB 150 billion in hospital and retail terminal drug sales are expected to transfer to online sales and by 2020, the sale will reach nearly RMB 400 billion. Daxue consulting is a medical consulting firm in China that understands the importance of e-commerce in the medical market.
Tap into e-commerce with a medical consulting agency in China
However, among the Chinese healthcare market, the potential of the medical e-commerce market in China is still largely untapped. With the ubiquity of mobile telecommunications and the development of mobile technology in China, we could foresee an ongoing growth of mobile health innovations in China in order to provide medical services for different group of consumers. Daxue Consulting, as a medical consulting agency in China, could help you understand the Chinese medical e-commerce market.
Why choose Daxue Consulting among other medical consulting companies in China
Extensive experience in medical market segments
Compared to other medical consulting company in China, Daxue Consulting has an extensive background in the healthcare market in China. Our market research team has carried out projects for overseas clients seeking to enter the Chinese market. Our clients vary from the leading provider of nursing homes in Europe, a major company in the pharmaceutical field in Europe to one of the most important healthcare medical facility in the world. Additionally, daxue consulting has done projects and research involving medical tourism of Chinese consumers.
We know the Chinese market well: Conducting market research across China
The situation of Chinese healthcare market varies from cities and different consumer groups. China’s economic and social development is different from region to region. Consumption habits and income levels vary between tier-1 cities like Shanghai and Beijing and lower-tier cities. Similarly, there are also huge difference in regional patterns between eastern regions and inland regions. Thus, as a medical consulting company in China, daxue consulting has developed the resources and research network to provide them throughout China. Although based in Shanghai, Beijing and Hong Kong, we have the resources to conduct research all across China to capture the specificities of each area of the country. We have conducted research in the following cities:
Tier-1 cities Beijing, Shanghai, Shenzhen, Guangzhou, Chengdu and Tianjin as well as
Tier-2 cities such as Nanjing, Chongqing, Kunming, Xi’an, Wuhan, Shenyang, Dongguan, and many tier-3 cities and tier-4 cities in Shandong, Guangdong, Xinjiang and more.
What can we do as a medical consulting agency in China？
Desk Research to gather preliminary information about the market
Desk research is usually the first phase of the service Daxue Consulting as a medical consulting company in China will provide. Desk research is necessary to create a background understanding of the healthcare market in China. As a medical consulting agency in China, we tailor our research to clients’ business needs.
Daxue consulting’s online research includes
- Market sizing
- Identify market drivers
- Competitor analysis
In depth interview with industry insiders
In-depth interview is necessary to gain first-hand knowledge about the healthcare industry in China. For this step, our team will perform a series of in depth interviews with professionals. Industry professionals would include doctors, medical agencies top managers and lawyers. If necessary, we can conduct focus groups to learn a collective perception and qualitative data about experts’ experience about the industry.
When a company needs to find a local partnership, daxue consulting’s research team conducts a screening process of potential partners. Daxue consulting has a long experience in the health care industry in China. As an experienced medical consulting company in China, we have carried out various partner-screening projects for different clients overseas. For our clients, our research team will be able to shortlist the top five potential partners for you to choose and consider what is the best fit.
Marketing plan &final recommendation
The final product of Daxue Consulting’s medical consulting service in China is a complete and detailed final report. Our reports include a comprehensive overview of the industry and recommendations to help our client with strategic decisions. We could also provide extensive marketing strategy from the perspective of a medical consulting firm in China. The marketing plan also comprises our market research team set of final recommendation to our client to practically establish online and offline communication channels, such as official website, SEO strategies, Chinese social media, attending exhibitions and events, and finally networking activities.
Looking for a medical consulting agency in China to help optimize your China market strategy? Contact our project team at email@example.com