Discovering Opportunities in China's Cardiovascular Market
Published:20 Oct.2017    Source:Asia-Pacific Biotech News

China has one of the world’s most complicated and regulated healthcare industries. Jelte Wingender gives insights on China’s cardiovascular drug and device market and the outcome of their healthcare reforms.

 

China’s overall healthcare industry remains robust and has shown positive growth trend over the past years. The total market size of the Chinese healthcare market was USD 350 billion in 2014 and is expected to grow at a Compound Annual Growth Rate (CAGR) of over 19 per cent, reaching a market size over USD 1 trillion by 2020.

 

Today, China spends only around five per cent of its Gross Domestic Product (GDP) on healthcare, a figure that is also likely to grow fast as the population grows older. Tendencies also show that China’s population will become significantly unhealthier compared to other developed countries attributable to changes in lifestyle patterns.