China’s health system has seen a significant reform in the past decade to provide its population with greater access to care and new medical technologies.
An ageing population, growing wealth, rising middle class, and rapid urbanisation are driving the growing demand for novel medical services. Mergers & acquisitions and partnerships with foreign companies are accelerating the pace of innovation and the adoption of new healthcare and medical technologies.
European companies can find opportunities in the following sectors:
- Devices to assist elderly people and manage chronic diseases. The market is estimated at EUR 11 billion and growing.
- Smart and medical devices. One of the fastest growing segments in the next decade, with an estimated market size of over EUR 40 billion.
- ICT for Healthcare, such as electronics, sensors, high-density memory, micro-electromechanical systems, and new combinations of existing devices. ICT for healthcare is a priority of the State Department’s 5-year strategic development plan.
- Telemedicine and remote health monitoring. This market is still in its early stages in China.
- Nanotechnology healthcare, including nano-medicine, nanomaterials, nano-bio device, nanoparticles.
- Wearable devices, medical information, remote medical services and mobile health will be supported by a policy framework “Healthy Chinese Cloud Service Programme” for 5 years.
EU Gateway | Business Avenues will take selected companies on a Healthcare & Medical Technologies business mission to China from 4-8 December 2017. Apply now! Deadline for application is 30 June 2017.