The Big Health Industry Will Inevitably Become A Huge Driving Force For Economic And Social Development

In the communique é of the Fifth Plenary Session of the 18th Central Committee, building a "Healthy China" has been elevated to a national strategy. Several experts have expressed that promoting health not only directly creates productivity, but also complements and closely interacts with economic development. In the future, the concept of healthy development will become increasingly popular and gradually integrated into the governance philosophy of governments at all levels. The level of government health investment and medical security will be further improved, and the "comprehensive evaluation of health impact" system is expected to be established. Benefiting from the continuous release of policy dividends, the "big health" industry will also become a huge driving force for future economic and social development.

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A research report shows that the 'big health' industry has become the world's largest emerging industry. However, compared to the United States, Japan, and many developing countries, China's big health industry is still in its infancy. Statistics show that the health industry in the United States accounts for more than 15% of GDP, while that in Canada, Japan, and other countries accounts for more than 10% of GDP, while that in China only accounts for 4% to 5% of GDP, with huge development space.

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Industry insiders believe that the implementation of China's national health strategy will not only drive the rise of pharmaceutical and medical device production and research and development enterprises, the medical service industry, health insurance industry, elderly care industry, and internet medical industry, but also breed new market opportunities in areas related to environmental protection, food safety, and healthy living information. It is recommended to focus on supporting emerging strategic pillar industries such as self-developed drugs, medical consumables, medical devices, and large-scale medical instruments, as well as health service industries related to healthy lifestyles and elderly care in the future. According to the Action Plan for the Development of the Health Industry proposed in the "Healthy China 2020" Strategic Research Report released by the Ministry of Health, by 2020, ethnic enterprises will account for over 80% of the drugs purchased by medical and health institutions at all levels in China; Ethnic enterprises account for over 50% of consumables and equipment, and the total health expenses account for 6.5% to 7% of GDP.

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Some securities firms believe that during the 13th Five Year Plan period, the healthcare industry centered around big health, big healthcare, and big medicine is expected to exceed a market size of 10 trillion yuan. With the market-oriented reform of drug prices, as well as the strengthened guidance and supervision of medical insurance on drug prices, and the improvement of operational efficiency in the medical market, the pharmaceutical industry will maintain stable growth in the future. In addition, encouraging social forces to establish a health service industry and promoting equal treatment between non-profit private hospitals and public hospitals will help strengthen the development of the medical service industry and achieve full life cycle medical and health services, including medical care integration, health insurance, etc.

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Health itself is productivity. In terms of overall development, ensuring national health is not only an important way to increase people's happiness but also complements and closely interacts with economic development. Against the backdrop of 'Healthy China', the 'Big Health' industry is expected to enter a period of vigorous development and will also become a huge driving force for future economic and social development.

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Developing the health industry to meet the needs of multi-level and diversified health services; Fulfilling government responsibilities and increasing investment in health. By 2025, the proportion of total health expenses to GDP will reach 6.5% to 7%, ensuring the achievement of the "Healthy China 2020" strategic goal.