Global healthcare is being led by the US with China following close behind. Europe is simply being a spectator to the developments that are unfolding on a global level.

The views were expressed by Roche CEO Severin Schwan at the “Entrepreneurship in Healthcare Powering Innovation” in Dublin, a European Healthcare Distribution Association (GIRP) initiative. Europe was criticized for its lack of efforts in expediting healthcare innovation in comparison to the speedy efforts of the US and China.

With the establishment of a clear regulatory framework, the US has provided for a sustained roadmap for the rollout of new startup companies in the field. China is fast catching up with the US in this aspect. Europe will be facing increasing difficulties in catching up with the rest of the world in implementing innovative healthcare systems on account of fragmented data.

The commitment of the Chinese to innovation is complete. They have evolved a long-term strategy for growth including low-value industries to high-value industries as a key part of this growth process. They are extremely keen to develop the life sciences and IT industries. A strong regulatory framework and well-established tech players have enabled China to be at the forefront of pharmaceutical and IT development, a trait lacking from the Europeans. The Chinese have been pouring a lot of money into developing key healthcare initiatives.

The emergence of new digital opportunities in the US has prompted Roche to pursue investment opportunities and the company is not keen to invest in Europe.