Expanding In China’s Medtech Market: Where To Go From Here

One of the hottest health care markets in the world, China currently claims the number four spot in the global market with a $17 billion medtech industry, a market that is expected to more than double in size within the next five years. This remarkable growth is largely attributable to the country’s increasing government health care spending, underpinned by robust economic growth, which has led to improved health care access and infrastructure, as well as the ongoing expansion of public insurance coverage and infrastructure for less developed parts of the country. Beyond the growth in government spending, patients’ ability to afford better medical care has increased. The Economist Intelligence Unit Ltd. estimates that, by 2015, there will be more than 100 million households in China earning more than $15,000 per year, up from fewer than 35 million today, with growth expected to accelerate to over 40% per year.