Healthcare and Bio Science
Photo credit to Xinhua
Unlocking China’s Healthcare Market
Expanding Opportunities in China’s Healthcare Sector
China’s growing wealth and aging population have ignited a demand surge in healthcare. Government investments have reshaped the ecosystem, creating substantial opportunities for foreign players in biotech, pharmaceuticals, medical devices, and more.
Shanghai: A Hub for Bioscience
Shanghai and the Yangtze River Delta region have become epicenters for bioscience R&D and manufacturing. Government support, a skilled talent pool, and robust supply chains make it an attractive investment destination. Explore clusters in Suzhou, Nanjing, Taizhou, and Wuxi.
ALGLORY regularly attends major healthcare expos like CPHI-MEC China and Pharm China. Despite pandemic challenges, the China International Import Expo (CIIE) in 2022 showcased the healthcare industry’s confidence and opportunities for foreign companies.
China’s Evolving Healthcare Landscape
China’s 14th Five-Year Plan (2021-2025) prioritizes a robust public health system, opening doors for foreign players. Increased government investment and rationality in the healthcare sector present promising prospects.
Market Insights in a Snapshot
- China boasts the world’s largest social insurance system.
- Personal healthcare expenditure increased 11-fold from 2000-2018.
- China’s healthcare industry is set to reach $2.25 trillion by 2030.
- China aims to capture 25% of the global medical devices market by 2030.
- The top import sources for China include Germany, the U.S., Japan, Ireland, and France.
Entering a new market requires strategic trademark registration and thorough market intelligence research. Outsourcing or partnering with local companies is now more accessible and successful. Be aware of local procurement preferences and consider gradual localization.
Navigate the Dynamic China Market
China’s diverse and dynamic market necessitates action. Understand that you’ll never know it all, so collaborate with local experts to identify the right strategy and partners. The time to act is now!
Article Date: January 2023