Healthcare

Biography

Dr Zhou obtained his PhD in Biochemistry (2006) at Heriot-Watt University, Edinburgh.  He had more than 10 years experiences in Healthcare and Life Sciences. His previous research was focusing on the Cancer Research; his major academic achievements were published in journal Oncogene, one of Nature Publication Group, co-authored papers were published in journal Cell & Cancer Cell. The recognition and awards he received were from Chinese Embassy in UK, Cancer Research UK and Children’s Brain Tumor Foundation (US). He founded Beyond Lab in 2014 aiming to bridge the gap between UK and China in Life Sciences, Medical and Healthcare sectors. He is also the Director of China Medical City-UK Incubator.    

Abstract

The total health market in China is estimated as over £1 trillion in this year.  The digital health market is predicted to have a rapid growth, from $3billion in 2014 to a projected $110 in 2020. The Chinese healthcare system is different to the UK/Europe. For example, there is no primary care in China. Due to the 1.38 billon large population living in 9.6 million Km², the digital healthcare is suggested to be the solution to overcome the geographic problem. But as a foreign company, how could we make us to be China-Ready, 3 points to be considered

 

1. Product: Regulatory & IP protection.

 

Same to the rest of world, healthcare is a strictly regulated sector in China. Therefore, for any company who wants to enter into Chinese Market, the first thing is always to clear the regulatory and compliance on the company’s products. If one is diagnostic or treatment related software, then it is likely regulated by the China Food and Drug Administration (CFDA).  Some software will be classified as same as the hardware. Therefore clinical trial might be a necessary in order to obtain the CFDA approval. Digital healthcare will deal with patients or public’s data. Company needs to be aware the data protection regime in China, similar to the General Data Protection Regulation (GDPR) in Europe.  At last the company need to discuss the intellectual property issues with their own attorney before going to China. Filing a patent and/or registration of trademark should be prioritized in the China-Ready To-Do-List as China is a very challenging market.  

 

2. Business: China Strategy.  

 

To do business successfully in China, a good business strategy is also needed. An in-depth analysis on the market, competition, and business model should be done for the serious company. For digital healthcare, setting up a correct price is sometime challenging. Most of time, who will pay the bill is dependant on the healthcare system. Therefore a good understanding of the China’s healthcare system and local business model will help the company to choose the correct pathway in China.  In addition, the culture difference should also be addressed in the business strategy.  Grab any chance to go to China, that will help the decision maker to open their eyes and understand better the culture and the Chinese Business sprit.

 

3. People: partner and local team

 

Many big western companies, e.g. Google, Ebay, and Apple has failed or are failing in China. Many of them blame the barriers setup by central or local governments and the Non-transparent business environment. The most-successful foreign business in China is the German car-maker, for example, Volkswagen, Audi etc. Their success is partly due to the Joint Venture (JV) format of business. Therefore a good business partner (or investor if lucky) is the key for the success in China. A good/strong local partner will use their network (Guangxi) to help the foreign business and attract the most resource and supports for the mutual benefits. Building up a local Chinese team is always a good practise when the company land in China.