CHINA – Overview of medical device industry and healthcare statistics

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.

How China compares to other markets

  CHINA Compare to
UNITED STATES
Compare to
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.