China Business Intelligence Network News: Traditional Chinese medicine has a history of thousands of years in China. Rooted in ancient Chinese philosophical thought, TCM promotes people's physical and mental health through the integration of medicinal resources and holistic physiotherapy. Compared with Western medicine, TCM has fewer side effects and pays more attention to preventive health care and long-term health management, especially the management of chronic diseases and the treatment of difficult and complex diseases.
1. Overview of China's TCM medical service industry
1. Introduction to TCM medical treatment
Traditional Chinese medicine (TCM) has a history of thousands of years in China. Compared with Western medicine, TCM has fewer side effects and pays more attention to preventive health care and long-term health management, especially the management of chronic diseases and the treatment of difficult and complex diseases. TCM addresses a variety of diseases and sub-health conditions through pharmacological and non-pharmacological treatments, emphasizing the balance and harmony of the body's internal systems and promoting overall health. In drug treatment, Chinese herbal decoction pieces and proprietary Chinese medicines are prescribed according to personal symptoms and health conditions; rather than medication. This usually involves acupuncture, moxibustion, massage, cupping and gua sha to relieve symptoms and treat diseases without the use of medication.
2. Key Players
TCM medical institutions are the main players in the TCM medical service industry, which are scattered in the industry, mainly including: TCM hospitals; TCM Outpatient Department; TCM clinics; and other TCM healthcare institutions, such as community health institutions that provide TCM services. The following table sets out the key differences between TCM medical institutions:
Data source: China Commercial Industry Research Institute
2. The market status of China's traditional Chinese medicine medical service industry
1. The market size of China's medical service industry
The market size of China's healthcare services industry has grown significantly from RMB4,111.2 billion in 2018 to RMB5,948.4 billion in 2022 and is expected to reach RMB 109956 billion in 2032, growing at a CAGR of 6.3% from 2022 to 2032. The chart below shows the historical and forecasted market size of China's healthcare services industry from 2018 to 2032.
2. The market size of China's medical service industry
In terms of total revenue generated by medical institution management service providers, the market size of China's medical institution management service industry increased from 6.1 billion yuan in 2018 to 20.1 billion yuan in 2022, and is expected to grow significantly in 2032 to reach 147.8 billion yuan, with a compound annual growth rate of 22.1% from 2022 to 2032. The chart below shows the historical and forecasted market size of China's healthcare managed services industry from 2018 to 2032.
3. The market status of China's medical institution management service industry
4. The market size of China's health product distribution industry
China's health product distribution industry includes the distribution of health products to a diverse customer base, mainly including medical institutions, retail pharmacies, other distributors and manufacturers. There is a wide range of such products, including Chinese patent medicine, Western medicine, medical devices and other products. The market size of China's health product distribution industry increased from 2,158.6 billion yuan in 2018 to 2,751.6 billion yuan in 2022 at a CAGR of 6.3%, and is expected to reach 5,883 billion yuan in 2032, with a CAGR of 7.9% from 2022 to 2032.
3. Analysis of the policy environment of China's TCM medical service industry
In recent years, the Chinese government has been promoting the reform of the public medical insurance plan to improve the efficiency of the use of medical insurance funds, effectively reduce the burden of medical expenses on patients, and benefit more patients. In order to strengthen cost control, realize digital disease management and digital payment, the Chinese government has launched an innovative payment mechanism.
4. Driving factors and development trends of China's TCM medical service industry
1. Drivers
With the dual benefits of the demand side and the supply side, the penetration rate of TCM medical services in China's medical service industry continues to increase. China's TCM healthcare industry is primarily driven by the following key factors:
(1). Demand-side drivers
(2). Supply-side driving factors
2. Development trends
The quality of service is improving day by day.
The quality of service has become one of the most important factors influencing a customer's decision on which medical institution to go to. Perfect medical institution management services help to improve the quality of medical services in managed medical institutions. Healthcare facility management service providers with their own medical institutions are able to continuously introduce clinical experience and academic knowledge into the management of medical institutions;
Operational efficiency is improving.
In addition to brand and service quality, healthcare organizations also compete in operational efficiency, including resource coordination and business management capabilities. Medical institutions that have a sound performance appraisal system to motivate medical professionals and simplify the service process are becoming more and more competitive in the market;
Continue to strengthen multi-agency collaboration and the synergy effect of the tiered service network.
A medical institution management service provider with its own medical institutions can establish a comprehensive medical service network covering the management and self-owned medical institutions. The medical institutions in the network form synergies and interactions in the medical service network, so as to benefit from smooth customer referrals, joint consultations and reasonable resource allocation, and continuously enhance clinical and scientific capabilities, as well as bargaining power in the supply chain. This multi-agency synergy makes healthcare facility management services attractive to healthcare providers.
For more information, please refer to the "Research Report on Market Prospects and Investment Opportunities of China's Traditional Chinese Medicine Medical Service Industry" released by the China Business Industry Research Institute, and the China Business Industry Research Institute also provides industrial big data, industrial intelligence, industry research reports, industry white papers, industry status certificates, feasibility study reports, industrial planning, industrial chain investment map, industrial investment guidelines, industrial chain investment investigation & promotion meeting, "15th Five-Year Plan" and other consulting services.