In this recent article in Forbes, Jack Perkowski states that healthcare is a trillion dollar industry. McKinsey & Company predicts that by 2020 healthcare spending in China will also reach $1 trillion. The Chinese government believes that healthcare spending will raise to $1.3 trillion by the end of the decade.
There are two factors that describe the increased healthcare spending in China. As the per capita income rises, people want better medical treatment and services. Additionally, due to air pollution and air born diseases, the demand for healthcare has increased significantly. Hopefully with the recent climate change agreement between the U.S. and China, these diseases will decrease.
With all of this information, there is no doubt that China's increased healthcare spending will make it one of the largest markets in the world.
Summary by MedicalGroups.com
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