On July 22, 2021, the China “AI+” Innovation and Entrepreneurship Competition - Smart Healthcare Innovation Competition kicked off at Hangzhou Liangzhu Life Science and Technology Town. Mr. Mao Hua, Partner and Managing Director of Frost & Sullivan's Greater China region, was invited to attend the event and deliver a keynote speech, sharing his professional insights on China's artificial intelligence healthcare industry.
This competition is organized by the Chinese Association for Artificial Intelligence and Hangzhou Science and Technology Bureau, undertaken by the Management Committee of Hangzhou Liangzhu New City and Yuhang District Science and Technology Bureau, and co-organized by Hangzhou Xingyun Digital Technology Group Co., Ltd., Xingyun Medical Health Industrial Park, Medroadshow, and Zhejiang Future Research Institute.
The competition focuses on artificial intelligence and biomedicine, aiming to build an 'industry capital circle' for high-quality projects through the sharing of innovative achievements, case analysis, and viewpoints collisions. It also aims to establish a 'capital exchange library' for the life health economy.
Mr. Mao Hua, Partner and Managing Director of Frost & Sullivan Greater China, delivered a keynote speech.
Mao Hua said that based on the development of technologies such as machine learning and natural language processing, AI has been applied in multiple scenarios including drug research and development, assisted diagnosis, and health management, and has a rich target market. Taking AI + drug research and development as an example, current AI technology has been applied throughout the entire process of drug discovery, preclinical, and clinical research. The application of AI in drug discovery and clinical trials helps to solve industry pain points, significantly shorten the R&D cycle, improve R&D efficiency, and enhance the safety of clinical research.
"Currently, well-known domestic and international companies have made corresponding arrangements in fields such as medical imaging, medical assistance, health management, drug research and development, and medical big data. The AI healthcare industry has broad prospects for development." He pointed out that in 2020, the total market size of AI healthcare in China reached 38 billion yuan, with a compound annual growth rate of 39.6% from 2016 to 2020. It is estimated that by 2025, the market size of AI healthcare in China will further grow to 544 billion yuan, with a compound annual growth rate of 70.2% from 2020 to 2025.
China's AI healthcare industry is developing rapidly, and the capital market continues to be optimistic. 'With the rapid development of internet, 5G, and AI technologies, China has seen investment peaks in AI + health management, AI + imaging, and AI + drug research and development one after another. The number of investments in the field of AI + medical robots has been increasing year by year, and it is expected to become a new hot investment area,' he said.
Currently, China has become a global leader in digital healthcare, and the deep integration of new technologies with the health industry has entered its best era. As an important application in the people's livelihood field within the strategic planning of smart cities, smart healthcare is also an industrial upgrading and economic growth point driven by the people's livelihood economy. The digital healthcare industry is developing vigorously and unstoppable.
The event organizer stated that they hope to gather domestic innovative enterprises, industry leaders, and active investors in the big health industry through this event, allowing them to exchange good experiences, technologies, and projects with each other, and promote the rapid development of China's digital healthcare industry.
