The three leading markets in China’s health industry are:
Apart from these markets, there are many other markets in the health industry in China, that makes it impossible to talk about the top 5. However, we have selected these three as the most prominent and market-leading markets.
Section 2: How much of the total market does each market represent?
The total market for the health industry in China is enormous. Therefore, each market is very big and very important for the health industry. The Chinese government and investors are providing significant support for the health industry. The total market is therefore very big and the largest in the world.
Expectations
The health industry in China is expected to grow to 1 trillion Yuan ($145 billion) by 2025.
The market for general medicine
The market for hospital care
The market for pharmaceuticals
The market for medical devices
The five biggest market sectors in China:
Medical devices
Medical devices Manufacturing
Medical devices Healthcare services
Healthcare services Pharmaceuticals
Pharmaceuticals Industry
China has a huge population and a large economy. It has both a large economy and a large population.
China has a huge population and a large economy
China’s population is expected to be around 1.4 billion by 2025, and China’s economy is second only to the US in the world. Its Gross Domestic Product (GDP) was 6.9 trillion USD in 2017 and it is expected to double by 2030.
China’s GDP is expected to increase by 8.3% in 2018, compared to 7.6% in 2017. It is expected to be 7.1% in 2019.
The market of oriental medicine
In the last several years, there has been a rapid growth in the Chinese health care market, with a market size of USD 48.2 billion and expected to grow at a CAGR of 10.2%. In the future, the domestic oriental medicine market is expected to grow at the CAGR of over 15%, in China.
In general, oriental medicine is considered to be a safe and effective therapy as compared to Western medicine. Thus, the oriental medicine market is expected to grow at a high rate. However, some patients experience adverse effects due to the oriental medicines, which will decrease the market.
The market of TCM
The market of western medicine
Health Insurance
The market of traditional Chinese medicine
Hospitals in China
Hospitals in China by revenue
The report also includes a separate section dedicated to Chinese hospitals by revenue, where it’s found that there are now some 50,000 in the country. Over 70% of hospitals generate more than $10 million per year in revenue.
The health care sector also has more than 1 million registered practitioners in China. Health-conscious, health-seeking population is increasing every day. The average annual growth rate of health care is 10.7% as reported by the official China Healthcare Monitor. It says the number of practitioners of alternative and traditional medicine is the highest in China, with nearly 70% more than in the U.S.
Comparing the top 5 markets
Top markets with most optimistic CAGRs for the next five years (by number of beds)
Top markets with the highest growth potential for the next five years (by number of beds)
Top markets with the lowest CAGR for the next five years (by number of beds)
Top hospitals by market size
Top International Hospitals in China (5,000 – 50,000 beds)
Below are the key findings on the growth potential of the health market in China (by market size):
The Chinese health industry is vast, both in terms of size and potential. The health sector as a whole is growing by over 20% every year and the healthcare market is expected to hit USD 7.5 trillion by 2030, making it the third-largest global market after the US and Europe.
Further reading:
