Although the development path is different, the development elements of the big health industry in various countries have some common ground. In the early stage of development, the big health industry was triggered by demand and gradually started under the guarantee of policies. After being promoted by capital, it continues to grow, and it continues to deepen with the support of science and technology, and constitutes the four essential elements for the development of the big health industry. In general, the world’s major health industry is developing in the direction of scientific, cyclical, intelligent, and integrated. With the continuous deepening of health theory research, the continuous expansion of health intervention cycles, and the gradual intelligence of health management methods, the integration, and penetration of the health industry and other industries will become closer.
1 Development factors
1.1 Policy guarantee
As a public industry with positive externalities, the health industry needs government-led construction to promote the improvement of national health quality. Developed countries began to deploy the health industry in the 1970s. For example, the United States promulgated the “Health Maintenance Act” in 1973. Subsequently, European countries such as the United Kingdom and Germany also formulated health management policies. Developed countries such as Japan began to formulate health management plans in 1980, leading the development of the health industry.
After entering the 21st century, national health plans have entered a new round of target period. The United States began to implement the third “Healthy People 2010” plan. The EU is moving towards the second “Public Health Action Plan of EU Member States (2008-2013)”. Japan has promulgated the third “Healthy Japan 21 Plan”. The formulation and implementation of these policy plans is an important guarantee for the development of the health industry and provides policy guidance and financial support for the development of the health industry in various countries.
1.2 Demand basis
The big health industry has developed in the face of the global aging crisis and the sub-health situation, and it is a demand-driven industry. Resident income growth and increased health awareness have created a good demand foundation for the development of the health industry.
First of all, the general increase in income levels is the material basis for the development of the big health industry. In recent years, the income of residents in major countries in the world has continued to rise. At the same time, the proportion of medical and health expenditure in GDP is also on the rise. In 2018, the U.S. health industry accounted for 17.5% of GDP, and countries such as Canada, Japan, and South Korea accounted for about 10%.
Secondly, changes in the demographic structure have spawned the health needs of special populations. At the beginning of the 21st century, the global elderly population (over 60 years old) has exceeded 600 million people, accounting for 10% of the total population, and it continues to grow at a rate of about 2% per year. The aging trend has spawned a large number of elderly care needs, and the elderly care service field has become an area that governments all over the world need to solve urgently and enterprises are rushing to get involved. For example, the American pension industry is favored by the capital market. In the form of pension communities, it has driven the development of real estate development and operation, trust funds and other industries. Japan’s “silver economy” has promoted the development of professional elderly care services that combine medical care and elderly care, as well as the development of complementary elderly care models in communities and institutions, and has gradually developed in the direction of remote, intelligent, and technological elderly care. It is estimated that by 2025, China’s population of elderly people over 60 will exceed 300 million, entering a deeply aging society, and the demand for healthy elderly care will increase sharply. Elderly care services, nursing and rehabilitation, etc. will become hot demand. In addition, the implementation of China’s “two-child policy” has spawned a small birth boom, making maternal and child care a new consumption hotspot.
Third, sub-health has become a common problem faced by people in modern society. The global health survey conducted by the World Health Organization shows that 75% of the sample population is in a sub-healthy state. This has also given birth to the people’s pursuit of health and healthy consumption. In 2017, the global health care products market has exceeded 200 billion U.S. dollars. In 2018, China’s health care products market reached 40.2 billion U.S. dollars, becoming the world’s second-largest health care products market. At the same time, China’s young and middle-aged population is under greater pressure in life, and health needs are gradually diversified. Fitness, health care, massage, psychological counseling and other services are in strong demand. In 2019, the annual output value of China’s leisure and health care service industry is 200 billion yuan.
1.3 Technology Engine
Life science is one of the fastest-growing, most innovative, and most influential scientific and technological innovation fields in the world today. It is the foundation and driving force for the development of the big health industry.
In 2005, the US federal government invested US$30 billion in basic research and development of biotechnology. Among the world’s biotechnology research and development institutions, American companies account for 80%. Denmark began to pay attention to the field of genetic engineering technology in the 1970s. The gene technology law was passed in 1986, and the government research and development plan in the field of biotechnology was subsequently launched. The total investment exceeds 1.2 billion euros. Japan is led by cutting-edge medical care. In 2008, Kobe gathered about 1,000 scientific researchers and 81 scientific research companies to conduct biological scientific research represented by regenerative medicine.
In recent years, China has gradually increased policy and funding support for scientific research projects in the bio-manufacturing technology and life sciences industries and used technology to promote industrial development. In 2015, the Ministry of Science and Technology launched the China Precision Medicine Plan. It proposes to invest 60 billion yuan in precision medical technology by 2030. In 2018, China obtained the world’s first artificial single-chromosome eukaryotic cell, the first somatic cell cloned monkey, new regulatory mechanisms of natural immune response and inflammatory response, and new genetically encoded neurotransmitter fluorescent probes in the field of life sciences. Results. This has played a fundamental and forward-looking guidance and promotion role for the development of the big health industry.
1.4 Capital Motivation
The big health industry is a capital-intensive industry with the characteristics of high risk and high return. Especially in the fields of medicine and equipment research and development, capital demand is large and the payback period is long. Nevertheless, the rapid growth of the health industry’s income still attracts a large amount of capital investment. This has also become a driving force for the development of the big health industry.
In 2014, there were 1044 global health and medical venture investments, with a disclosed transaction volume of US$15.6 billion, an increase of 82% over 2013. There were 523 mergers and acquisitions, with a disclosed transaction volume of US$403.6 billion, an increase of 385% over 2013. Among them, the investment in the fields of treatment and rehabilitation and biopharmaceuticals is far ahead, and emerging fields such as data information and health management have emerged. At present, China’s health industry is growing rapidly, and government control is gradually loosening, attracting a large amount of social capital to enter. From 2012 to 2018, the number of private hospitals in China increased from 9,513 to 19,139. In 2015, the number of private hospitals surpassed the number of public hospitals, especially in the fields of health care and rehabilitation, which have grown rapidly, forming a benign complement to public medical care.
2 Development trend
In general, the world’s major health industry is developing in the direction of scientific, cyclical, intelligent, and integrated. With the continuous deepening of health theory research, the continuous expansion of health intervention cycles, and the gradual intelligence of health management methods, the integration, and penetration of the health industry and other industries will become closer.
2.1 In-depth medicine, medical iteration, continuous innovation in theory and methods
With the integration and progress of multidisciplinary theories and methods based on life sciences, the depth and breadth of medical technology research will continue to expand. “Technical iteration” promotes the vigorous development of the pharmaceutical industry represented by chemical generic drugs. “Technology evolution” has spawned emerging therapies represented by immune cell therapy and gene therapy. “Technology convergence” triggers the transformation of new medical methods, such as smart medical care and mobile medical care. “Technological subversion” of synthetic biology, brain science, etc. will generate new biotechnology therapies and drugs. Medical technology has gradually become an important engine for the integration and application of biology, materials, information, engineering and other disciplines, promoting the development and maturity of the big health industry.
2.2 Front-end health care, back-end rehabilitation, expanding towards the full life cycle
With the rapid increase and diversification of health needs, traditional medical care can no longer meet people’s health needs. There will be increasing demands for healthy people to maintain their health, sub-healthy people to recover, and people to recuperate and recover after illness. In the future, the big health industry chain will continue to extend to the front and back two dimensions. It will give more prominence to the prevention and health care of the front end of the disease and the maintenance and rehabilitation of the back end of the disease so that the health industry will expand in the direction of the full life cycle.
2.3 Data support, smart medical care, and use of information to implement health management
“Internet+” and the big health industry are both strategic emerging industries, and the encounter of the two will inevitably bring about an industrial revolution. First, through the support of big data and information technology, it can effectively eliminate the shortcomings of information islands and realize the integration and readjustment of existing resources in the big health industry. It will improve the operating efficiency of the industry and tap the huge potential of the industry. The second is to promote the transformation of the big health industry to a high-quality and high-efficiency model based on personalized health management based on big data analysis and the Internet of Things service operation platform. This will become the development trend of the health industry in the future.
2.4 Point to the area, integrated development, and give birth to a new format of “medical +”
From the perspective of industrial ecological development, in the future, the big health industry will inevitably cross-penetrate with other related industries to drive the integrated development of other industries. For example, the health service industry is integrated and developed with traditional industries such as information technology, tourism, construction, manufacturing, and beauty. It has spawned new business formats such as “medical + big data”, “medical + artificial intelligence”, “medical + health + tourism”, and has become a new growth point for the big health industry.
