China’s healthcare markets growths fast but is becoming more complex. Several long-term trends and government reform and development programs currently impact the Chinese healthcare market. Increasing life expectancy and the consequences of the one-child policy led to the rapid aging of society and the end of population growth. According to the UN, by 2035, over 409 million Chinese will be older than 60 years, corresponding to over 28 percent of the population. Changes in lifestyle, consumption and eating habits due to increasing prosperity lead to an increase in lifestyle diseases such as high blood pressure, diabetes, obesity, or overweight.
Healthcare spending is expected to increase to $2.53 trillion by 2035, representing a compound annual growth rate of 8.4 percent, which is more than the projected overall GDP growth. As a result, the share of health spending in China’s GDP will increase from 6.6 percent today to 9.1 percent in 2035.
The Chinese healthcare market seduces through its size and growth rate, but companies often find it challenging to understand the market and correctly classify the increasingly complex developments. Local distributors often act in a non-transparent manner, on the edge of legality and in their interest. It is crucial for companies to keep an eye on the increasingly complex Chinese healthcare market and identify growth opportunities. Local partners can make a decisive contribution to success due to their market knowledge and experience.
Our longstanding experience and knowledge along the value chain of the Chinese healthcare industry enables us to offer tailored and brand-oriented market approaches for all our partners. We help our selected brand partners to understand the Chinese healthcare market, quantify the scale and the competitor landscape. We strive to become a professional partner of foreign healthcare brands in Greater China.