While there’s no telling exactly when the COVID-19 crisis will end, there is one thing for certain; it will end eventually, and recovery may be more abrupt than expected in China.
Most industries in China have been gravely affected by the ongoing pandemic and companies have been scrambling to quickly adapt to the “new normal”. However, knowing that the crisis will eventually come to an end, it is important to consider the next steps for your businesses to look forward to opportunities that can help your business grow. As China begins its recovery, here are some trends we can expect in other parts of the world as well.
Increased Healthcare Spending
Considering the overall pharma and healthcare industry, the pandemic has revealed both the strengths and weaknesses of healthcare systems around the world. In China, the exposure of the weaknesses of healthcare infrastructure has propelled investment in this sector. We can expect that there will be substantial opportunities for medical device producers, healthcare delivery companies, traditional medicine and homeopathic companies, to name a few.
Greater Focus on Employee Health and Wellness
Employee health and wellness will also be a point of focus in the coming months. Implementing new health policies will be crucial in countries that have succeeded in flattening the curve in order to prevent the second wave of the disease. For example, the implementation of flexible working arrangement policies and employee health tracking.
The Rise of Digital Health
Digital health services are relatively new but considering what we have observed during this pandemic, they could easily become one of the largest areas of potential growth within the healthcare sector. In one instance, a Chinese healthcare app called Ping An Good Doctor reportedly saw a 900% increase in new users in response to the COVID-19 pandemic.