China’s healthcare market is set to undergo rapid growth
According to the latest research by McKinsey & Co, China’s healthcare market is projected to grow at an unprecedented compound annual growth rate (CAGR) of approximately 12%, reaching $1 trillion by 2020, up from $357 billion in 2011.
The country is investing significantly in the local healthcare infrastructure and is looking at reforming the market through a number of economic and demographic trends in the next 15 years through its ‘Healthy China 2030’ initiative.
Some of these forces - such as improvements in infrastructure, the broadening of insurance coverage and significant support for innovation will have positive implications for multinational companies in particular, as well as the country’s ambitions surrounding the growth of e-commerce.
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Health-care expenditures have more than doubled - from $156 billion in 2006 to $357 billion in 2011 - inching closer to 5% of the country's GDP. "From pharmaceuticals to medical devices to traditional Chinese medicine, almost every health sector has benefited," the report adds.
The country’s ambitions have recently seen two Chinese healthcare firms, Tonghua Golden-Horse Pharmaceutical Industry and Golden Meditech Holdings place a bid to acquire Australia’s I-Med Radiology Network.
In a deal costing over A$1 billion, it would see Chinese enhance its service offering, remain competitive and hold its position as one of the largest emerging markets in the healthcare space.
At present, I-Med is Australia’s largest medical imaging clinic network. undertaking over 4 million procedures a year within its 200 clinics. It also houses over 200 specialist radiologists there to provide essential support in areas such as CT, MRI, Ultrasounds, Cardiac Imaging and more.
Check Point: Securing the future of enterprise IT
Cybersecurity solutions provider Check Point was founded in 1993 with a mission to secure ‘everything,’ and that includes the cloud. Conscious that nothing remains static in the digital world, the company prides itself on an ability to integrate new technology with its solutions. Across almost three decades in operation, Check Point, with its team of over 3,500 experts, has become adept at protecting networks, endpoints, mobile, IoT, and cloud.
“The pandemic has been somewhat of an accelerator in the evolution of cyber risk,” explains Erez Yarkoni, Global VP for Cloud Business. “We had remote workers and cloud adoption a long time beforehand, but now the volume and surface area is far greater.” Formerly a CIO for several big-name telcos before joining Check Point in 2019, Yarkoni considers the cloud to be “part of [his] heritage” and one of modern IT’s most valuable tools.
Check Point has three important ‘product families’, Quantum, CloudGuard, and Harmony, with each one providing another layer of holistic IT protection:
- Quantum: secures enterprise networks from sophisticated cyber attacks
- CloudGuard: acts as a scalable and unified cloud-native security platform for the protection of any cloud
- Harmony: protects remote users and devices from cyber threats that might compromise organisational data
However, more than just providing security, Yarkoni emphasises the need for software to be proactive and minimise the possibility of threats in the first instance. This is something Check Point assuredly delivers, “the industry recognises that preventing, not just detecting, is crucial. Check Point has one platform that gives customers the end-to-end cover they need; they don't have to go anywhere else. That level of threat prevention capability is core to our DNA and across all three product lines.”
In many ways, Check Point’s solutions’ capabilities have actually converged to meet the exact working requirements of contemporary enterprise IT. As more companies embark on their own digital transformation journeys in the wake of COVID-19, the inevitability of unforeseen threats increases, which also makes forming security-based partnerships essential. Healthcare of Ontario Pension Plan (HOOPP) sought out Check Point for this very reason when it was in the process of selecting Microsoft Azure as its cloud provider. “Let's be clear: Azure is a secure cloud, but when you operate in a cloud you need several layers of security and governance to prevent mistakes from becoming risks,” Yarkoni clarifies.
The partnership is a distinctly three-way split, with each bringing its own core expertise and competencies. More than that, Check Point, HOOPP and Microsoft are all invested in deepening their understanding of each other at an engineering and developmental level. “Both of our organisations (Check Point and Microsoft) are customer-obsessed: we look at the problem from the eyes of the customer and ask, ‘Are we creating value?’” That kind of focus is proving to be invaluable in the digital era, when the challenges and threats of tomorrow remain unpredictable. In this climate, only the best protected will survive and Check Point is standing by, ready to help.
“HOOPP is an amazing organisation,” concludes Yarkoni. “For us to be successful with a customer and be selected as a partner is actually a badge of honor. It says, ‘We passed a very intense and in-depth inspection by very smart people,’ and for me that’s the best thing about working with organisations like HOOPP.”