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Post Webinar Update | The Future of MedTech post COVID-19, in China and Beyond
1 July @ 2:00 pm - 2 August @ 3:00 pm
The Future of Medtech Post Covid-19
Online Briefing Wednesday 1 July 2020
This webinar provided insight into how the healthcare systems of Australia and China responded to the COVID-19 outbreak, the likely ongoing consequences of COVID-19 on healthcare systems around the world and what is being done to safeguard against future outbreaks., led by Tim White (Trade Commissioner and Commercial Consul of West China at Austrade), Professor Craig Anderson (Executive Director of the George Institute China at Peking University) and Brendan Mason (CEO of Sino-Oz Limited).
Key medtech trends in China were noted as the accelerated uptake of digital solutions due to COVID-19, including uptake in online consultations through platforms like WeDoctor (which saw 140 million visits to its platform through February – April). As China is working towards the integration of medtech solutions and its healthcare system to address the challenges of high patient volumes, underdeveloped primary and allied healthcare and geographic resourcing disparities, there is strong demand for partnerships across diagnostics, treatment and management. Mr White noted that Austrade’s actions in catering to this demand include the following: launching a Chinese language digital health capabilitites card to highlight Australian innovation in the industry, working with industry body AusBiotech to give their members insights into the Chinese market, and running a virtual bootcamp in July for Australian digital health companies to understand the trends, risks and opportunities in the Chinese market.
Key trends and challenges noted by speakers included:
- China’s desire to link hospital care and community and home-based care, by transitioning specialist care into the community
- The key components of medtech in the context of COVID-19:
- Regulation around technology approval (including the system of ‘special approval for innovative devices’)
- Import/export (which is severely constrained currently)
- Domestic distribution (this is feasible as long as there are available inputs in China)
- Further challenges for companies seeking to enter the Chinese market:
- Complex regulatory processes, including around data access and security
- Isolation strategy recommended by the State Council affiliated Chinese Academy of Social Sciences thinktank (pushing for self-reliance and homegrown solutions)
- Inconsistent messaging about policy and trade in China driving confusion and anti-China sentiment
- Resourcing (considering salary scales and access to expertise)
- Looking at future implications:
- Companies who develop in China will be well received (especially if R&D is localized)
- IT enablement will be an urgent focus
- Companies must have a strategic China plan
On Wednesday July 1, AustCham China will be hosting a webinar on the topic of The Future of Medtech post COVID-19, in China and beyond.
Hear from speakers Prof. Craig Anderson, Executive Director, George Institute China at Peking University Health Science Center, Brendan Mason, CEO Sino-Oz Limited , and Tim White, Trade Commissioner and Commercial Consul, West China, Australian Trade and Investment Commission, Head of Austrade China’s International Health team
This webinar will provide insight into how the healthcare systems of Australia and China responded to the COVID-19 outbreak, the likely ongoing consequences of COVID-19 on healthcare systems around the world and what is being done to safeguard against future outbreaks.
The webinar will further touch upon how tech is enhancing healthcare delivery, disease guidance and better continuity of care.
Please scan the QR code below or click ‘Here‘ to register now