Jiawei Meikang (Beijing) Technology Co., Ltd. (hereinafter referred to as 'Jiawei Meikang') successfully went public on December 14, 2021, issuing 3,446.94 million shares at an issue price of 39.50 yuan per share.
Jiawei Frost & Sullivan is one of the earliest domestic enterprises engaged in the research, development, and industrialization of medical information software. It has been deeply involved in the field of clinical informatization for a long time and is one of the leading companies in this area. The company has currently formed a core technology and product system for medical informatization with independent intellectual property rights, covering industry chain links such as clinical medicine, hospital management, medical research, patient-doctor interaction, integration of healthcare and elderly care, and optimization of medical payment. The company is committed to providing comprehensive informatization solutions to medical-related institutions. The company mainly provides medical information software products, software development, and technical services to medical institutions. Frost & Sullivan has long been paying attention to the global and Chinese medical informatization industries, has published a large number of research reports, and these have been widely cited in the prospectuses of leading companies listed on the Science and Technology Innovation Board in the industry, helping customers accelerate their growth.
Overview of China's Medical Informatization Market
In recent years, driven by national policies and the actual needs of hospitals, the market scale of medical informatization in China has grown rapidly. From 2016 to 2020, the market scale of medical informatization in China increased from 6.75 billion yuan to 14.5 billion yuan, with an annual compound growth rate of 21.1%. In 2020, affected by the COVID-19 pandemic, the construction of medical informatization received renewed attention from medical institutions at all levels and medical regulatory departments. In the future, with the popularization of electronic medical records, the demand for data in scientific research and clinical practice will continue to grow. With the development of emerging medical informatization markets, the market demand for medical informatization products will remain continuous. It is expected that by 2025, the market will grow to 47.43 billion yuan, with an annual compound growth rate of 26.7%.
China's healthcare informatization market size, 2016-2025E
Source: Frost & Sullivan report
Overview of China's Electronic Medical Record Market
As a core part of China's healthcare informatization reform, the electronic medical record market has grown faster than the overall healthcare informatization market. The market size was 1.8 billion yuan in 2020, with an annual compound growth rate of 26.6% from 2016 to 2020. It is expected that the electronic medical record market will grow at a compound annual growth rate of 32.6% to reach 7.37 billion yuan by 2025. At the same time, its proportion in the healthcare informatization market will also increase from 12.4% in 2020 to 15.5% by 2025.
Market Size of Electronic Medical Records in China, 2016-2025E
Source: Frost & Sullivan report
In the past, the growth of China's electronic medical record market was mainly driven by comprehensive electronic medical records. Most hospitals did not distinguish between electronic medical records for different specialties. However, with the increasing individualization and differentiation of specialty needs in the future, the proportion of the specialty electronic medical record market structure will increase. The relevant situation is as follows:
Changes in the Market Structure of Electronic Medical Records in China from 2016 to 2025
Source: Frost & Sullivan report
Overview of the China Healthcare Data Center Market
The data center is responsible for the unified collection and storage of management, clinical, and other information data within the hospital, providing it to users completely and in a timely manner to achieve information sharing and interconnection within the hospital. The construction of a data center can greatly reduce the pressure on the hospital's HIS system and improve the ability to integrate and utilize medical data. In terms of data collection and transmission, the data center demonstrates better stability and professionalism.
China's data center market is in its infancy, with a market size of only 1 billion yuan in 2016. By 2020, it has reached 3.52 billion yuan, with an annual compound growth rate of up to 37.0%. It is expected that the market size will increase at a compound annual growth rate of 28.0% to reach 121 billion yuan by 2025.
Market scale of China's healthcare data centers, 2016-2025E
Source: Frost & Sullivan report
Overview of China's Emerging Medical Informatization Market
Cloud computing, big data, and artificial intelligence technologies are gradually integrating into clinical medical practice. It is expected that in the next 3 to 5 years, cloud computing platforms will become the foundational platform for operating healthcare service systems with Chinese characteristics. Medical information systems will be fully migrated to cloud platforms, which will also support the application of artificial intelligence technology, virtual reality, robotics technology, etc., in various fields such as telemedicine, telesurgery, integration of healthcare and elderly care, drug research and development, and health management. Cloud platforms will also expand medical security coverage to the entire big health ecosystem, ultimately promoting the intelligentization of healthcare services, achieving a qualitative leap in smart healthcare, and developing into the future model of healthcare services. According to Frost & Sullivan's research, the market size of emerging medical informatization in China was only 220 million RMB in 2020, and it is expected that the market size will increase by 124.2% annually to reach 12.33 billion RMB by 2025.
Market Size of Emerging Healthcare Informatization in China, 2016 - 2025E
Source: Frost & Sullivan report
Frost & Sullivan, integrating 60 years of global consulting experience, has dedicated 23 years to serving the booming Chinese market. With a global perspective, we help clients accelerate their business growth and achieve industry-leading benchmarks in growth, innovation, and technology. The healthcare industry is one of Frost & Sullivan's core areas of focus. Over the past sixteen years, our healthcare team has provided financing and financial advisory, IPO industry advisory, strategic consulting, management consulting, and other services to hundreds of outstanding domestic and international biopharmaceuticals, medical devices, healthcare services, and internet healthcare companies. Successful listings include: Yonghe Medical (2279.HK), Kailaiying (6821.HK), Beihai Kangcheng (1228.HK), Gushengtang (2273.HK), Yingtong Technology (2251.HK), Clover Biotech (2197.HK), Minimally Invasive Robotics (2252.HK), Harmony Kampan (2256.HK), Kunbo Medical (2216.HK), Xianruida (6669.HK), Kangsheng Global (9960.HK), Yimaitong (2192.HK), Tengsheng Bopharm (2137.HK), CanSino (2162.HK), Chaoyu Ophthalmology (2219.HK), Guichuang Tongqiao (2190.HK), Hua Huang Medicine (0013.HK), Cobi Pharmaceuticals (2171.HK), Zhaokew Pharmaceutical (6622.HK), Nature Medicine (UPC.NASDAQ), Sainbio (6600.HK), Zhaoyan New Drugs (6127.HK), Novogene Health (6606.HK), Tianyan Pharmaceutical (ADAG.NASDAQ), Beikang Medical (2170.HK), Jianbimiao Miao Miao (2161.HK), Minimally Invasive Heart Link (2160.HK), Rui Li Medical Beauty (2135.HK), Jiake Pharmaceutical (1167.HK), Hepcon Pharma (2142.HK), JD Health (6618.HK), Deqi Pharma (6996.HK), Rongchang Biotech (9995.HK), WuXi AppTec (2126.HK), SonoBIO (2096.HK), Yunding New Energy (1952.HK), Jiahe Biotech (6998.HK), Zai Ding Pharma (9688.HK), Ocular Biotechnology (1477.HK), Yongtai Biotech (6978.HK), Hapre Pharmaceutical (9989.HK), Kechuang Pharmaceutical (9939.HK), Peijia Medical (9996.HK), Kangfang Biotech (9926.HK), Novogene Health (9969.HK), Tianjing Biotech (IMAB.NASDAQ), Kanglong Chemical (3759.HK), China Antibody (3681.HK), Dongyao Pharmaceutical (1875.HK), Yasheng Pharmaceutical (6855.HK), Fuhong Hanlin (2696.HK), Hansoh Pharmaceutical (3692.HK), Mabtech Pharmaceuticals (2181.HK), Fangda Holdings (1521.HK), Via Biotech (1873.HK), CStone Pharmaceuticals (2616.HK), Junshi Biosciences (1877.HK), WuXi AppTec (2359.HK), Innovent Biologics (1801.HK), Hailun Medicine (2552.HK), BeiGene (6160.HK), Gilead Sciences (1672.HK), WuXi AppTec (2269.HK), China Resources Pharmaceutical (3320.HK), Jacobus Pharmaceuticals (2633.HK), Hua Huang China Medicine (HCM.NASDAQ), Biotechnology (1548.HK), BBI Life Sciences (1035.HK), etc. In terms of the number of filings, our healthcare team maintains an absolute leading position in Hong Kong's healthcare IPO market, continuously occupying more than 90% of the market share from 2018 to 2020.
Since the listing of the first batch of companies on the Sci-tech Innovation Board in July 2019, Frost & Sullivan reports have been widely cited in the prospectuses of leading Sci-tech Innovation Board listed companies, including: Dizhi Medicine (688192.SH), Novogene (688105.SH), Chengda Biology (688739.SH), Geke Microelectronics (688728.SH), Huaxi Biotechnology (688363.SH), Junshi Biotechnology (688180.SH), Zhejiang Genomics & Biotechnology Co., Ltd. (688266.SH), BeiGene (688177.SH), and Shenzhou Cells (688520.SH). They are considered the most powerful, professional, and influential industry research institutions in the sector. We hope to work with enterprises to understand industry trends, seize development opportunities, jointly promote innovation and upgrading of China's healthcare industry, and build a healthy future.
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