Upbeat about China's innovative digital business environment, Takeda continues to invest in the country as it ramps up efforts to turn China into a global source of innovation for biomedicine.

On Monday, the company signed an investment cooperation agreement with the administrative committee of Chengdu High-tech Industrial Development Zone to establish the Takeda China Innovation Center (TCIC) in Chengdu, Sichuan province.

According to the company, the innovation center will develop and leverage cutting-edge technologies, including artificial intelligence and big data, to enhance digital capabilities and drive innovation in healthcare.

Takeda said the innovation center in Chengdu is its fourth such facility worldwide.

Sean Shan, senior vice-president of Takeda and president of Takeda China, said: "We are delighted to partner with the Chengdu High-tech Industrial Development Zone. The establishment of the TCIC marks another significant milestone in Takeda China's digital development journey and signifies our further enhancement of the value chain in China that will accelerate our digital transformation efforts.

"We will be leveraging cutting-edge digital technologies to develop advanced healthcare solutions, enabling more patients in China to benefit from the advancements in digital healthcare."

Sanjay Patel, senior vice-president and global head of data, digital and technology innovation capability solutions and services at Takeda, said, "With the addition of the TCIC to our innovation network, we are strengthening our strategic blueprint for digital innovation in China."

As a leader in digital healthcare innovation, Takeda considers data, digitalization and innovative technology as fundamental capabilities of the company's strategy and continues to invest purposefully to unlock greater innovation potential.

Over the years, Takeda China has been at the forefront of digital innovation, continually deepening and accelerating digital transformation and upgrades. This includes actively exploring digital application scenarios in areas such as early-stage research and development, business model innovation and disease management upgrades.

In 2021, Takeda China launched its open innovation incubation platform — TakedaSpark — aiming to collaborate with local innovation ecosystems to jointly explore the creation of "patient-centered" digital healthcare solutions and innovative business models. So far, TakedaSpark has attracted over 240 local innovative enterprises to participate, carrying out 22 conceptual experimental projects in three major areas — digital therapies, early screening and diagnostics, and smart healthcare services.

Wang Peng, associate research fellow at the Beijing Academy of Social Sciences, said: "Multinational pharmaceutical companies investing in digital healthcare is an inevitable trend. With technological advancement and changing medical demand, digital healthcare has become an important means to improve the quality and efficiency of medical services."

According to market observer AskCI, China's digital healthcare market is likely to reach 539.9 billion yuan ($74.2 billion) by the end of 2025, with a compound annual growth rate of 31 percent.