Traditional Chinese medicine (TCM) has become a key multi-billion-dollar export from China with a footprint spanning 183 countries and regions.
The World Health Organization recently included TCM in its global compendium of health resources, marking a significant step forward in recognising it as a legitimate part of global healthcare.
The TCM boom is being driven by global consumers increasingly adopting a holistic and proactive approach to healthcare, especially in addressing lifestyle-related chronic diseases and issues arising from ageing populations.
While TCM has long been popular in regions with overseas Chinese populations, such as Southeast Asia, it is now becoming more widely used in international medical systems. The Chinese government has supported its expansion by establishing TCM centres around the world. The first TCM centre in central and eastern Europe was founded in the Czech Republic in 2015. Today, TCM is registered in countries as diverse as Russia, Cuba and the UAE.
China has invested heavily in transforming TCM from a largely informal sector into a modern, fast-growing industry which is expected to generate 3 trillion yuan (12.9 trillion baht) in annual sales revenue by next year -- up 71% from 1.75 trillion yuan in 2017.
This transformation is also supported by the "Healthy China 2030" programme to improve public health, which features many initiatives to upgrade capabilities, improve regulation and support scientific development of TCM.
I was recently in Yulin, which houses the "Southern Herb Garden of China". It is one of the most important traditional medicine trading centres in south China with a full supply chain for the cultivation, processing and sale of medicinal plants. The surrounding Guangxi region is also set to become a special zone for medical innovation and collaboration.
Technology is also playing a part in the system's modernisation. For example, Fujian University has developed a machine that improves the diagnostic process by combining different ways of measuring health including a facial and tongue image scanner, pulse measurement, sound analysis, and a human-machine interactive dialogue system.
However, obstacles to taking TCM global remain, as critics continue to question the efficacy and safety of some therapies, as well as the effect its growth has on wildlife with its use of animal parts as ingredients for some medicines. While TCM's governing bodies have discouraged the use of endangered animals in treatments, disreputable practitioners and their clients continue to contribute to this lucrative illegal trade.
Given its long history, TCM will continue to play a significant role in China's health development. Yet, its successful adoption internationally will depend on how seamlessly it can integrate with not only Western medical practice but also modern expectations about healthcare.
Suwatchai Songwanich is the CEO of Bangkok Bank (China). For more columns in this series please visit www.bangkokbank.com