New Business Expansion Opportunities Emerging Under COVID-19 Outbreak

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For many companies, the outbreak is both a “crisis” and an “opportunity,” bringing short-term pressure on some industries as well as opportunities to adjust the structure of the entire industry to meet newer needs.

Under the pandemic, companies experiencing a “surge” in demand can take advantage of business expansion funding that opportunistic commercial investors are lending to.  Certain industries are preparing to expand their technologies, remote online service systems, and other strengths in order to think about new service models and turn the fulfillment challenges into growth opportunities.

Based on our observations, the COVID-19 outbreak is providing opportunities for the industries mentioned below.

Online medical care, medical supplies, pharmaceuticals, insurance, and health-related industries

During the pandemic, online medical platforms have provided free online diagnostic services for citizens. This helps to screen out suspected COVID-19 patients from common cold patients, alleviate the shortage of offline medical resources, reduce the cross-infection risks caused by human contact, and enable more citizens to experience online medical treatment.

The outbreak also stimulates the growth of telemedicine.

Hospitals are increasingly willing to try and benefit from telemedicine. In the next two to three years, telemedicine is expected to become more widespread.

What’s more, people’s awareness of life and health has been enhanced. This will promote the development of medical equipment, medical supplies, and pharmaceutical industries and stimulate domestic demand for health care products and life and medical insurances.

E-commerce

To avoid being infected by the COVID-19 virus, consumers who have formed the habit of online shopping are becoming more likely to order food and choose daily necessities and fresh food online instead of going to an offline supermarket. Fresh food e-commerce is seeing an explosive growth. Consumer demand for the following products has also increased significantly:

  • Disinfection cabinet;
  • Dishwasher;
  • Sweeping robot;
  • Auto wash phone;
  • Ultraviolet disinfection lamp; and
  • High-quality imported food and health care products.

Online entertainment

The “home economy,” indirectly driven by the COVID-19 outbreak, not only boosted online shopping but also promoted online games and live webcast.

Online education

As schools will start later, they have started to introduce online teaching and clock-in programs for students so as not to delay the teaching schedule.

Telecommuting related industries

COVID-19 will facilitate the growth of the telecommuting related industries, including remote office tools, such as cloud services, voice over internet protocol (VoIP), web video conferencing, multi-person collaboration platform, and digital services, as well as IT staff remote services.


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