Below you will find basic demographic and healthcare market data on China, plus specific information about the medical device and healthcare industries.
Overview of medical device industry: China's economic growth is slowing down, but the medical device industry is still on the rise. The Chinese medical device industry was valued at US$18.8 billion in 2016 and is projected to grow modestly through 2019, when it should reach over US$24 billion.
The Chinese medical device market is buoyed by the increasing demand for high-tech medical device imports to treat chronic and age-related disease. Also, China's 13th Five-Year Plan prioritizes health and innovation, which will improve prospects for foreign medical device manufacturers.
Opportunities in the Chinese market: Chinese medical device manufacturers dominate the domestic market, but they deliver mostly low-tech and mid-range products. Chinese hospitals and healthcare providers prefer imported devices, especially when purchasing innovative and high-tech devices. Significant demand for foreign-made, high-end devices is also fueled by China's aging population continues to grow, and the Chinese government pushes to improve the quality of care.
Industry challenges in China: The volatile regulatory system in China presents a significant challenge for foreign manufacturers. Chinese regulations change rapidly and foreign manufacturers must comply with obscure requirements to enter the Chinese market. Successful entry may even require setting up a representative office and your own trading company, so China may be out of reach for small or start-up companies with limited investment capital. Despite these obstacles, China is still regarded as one of the most promising medical device markets in the world.
| CHINA | UNITED STATES | JAPAN | |
|---|---|---|---|
| Population | 1,367,485,388 | 321,368,864 | 126,919,659 |
| Primary language(s) | Chinese, Mandarin | English | Japanese |
| Total healthcare spending | $574 billion | $3 trillion | $469 billion |
| Healthcare expenditures total (% of GDP) | 5.5% | 17.1% | 10.2% |
| Healthcare expenditures per capita | $420 (USD) | $9403 (USD) | $3703 (USD) |
| Expenditures on healthcare | Government: 56% Private: 44% |
Government: 48% Private: 52% |
Government: 84% Private: 16% |
| Size of medical device market (USD) | $8.7 billion (USD) | $147.7 billion (USD) | $26 billion (USD) |
| Number of hospital beds | 3.8 per 1000 people | 2.9 per 1000 people | 13.7 per 1000 people |
| Age distribution | 0-14 years: 17% 15-64 years: 73% 65 years and over: 10% (2015 est.) |
0-14 years: 19% 15-64 years: 66% 65 years and over: 15% (2015 est.) |
0-14 years: 13% 15-64 years: 60% 65 years and over: 27% (2015 est.) |
| Life expectancy at birth | Male: 73 years Female: 78 years |
Male: 77 years Female: 82 years |
Male: 81 years Female: 88 years |
| Currency | Renminbi yuan (￥) | US dollar ($) | Yen |
Want to see how China compares to countries in Europe and around the world? Download our free PDF Healthcare spending by country.
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