healthcare

Globally, pharmaceutical and healthcare spending is on a rise whereby emerging economies such as India, China, Brazil, and Japan are expected to drive growth during the forecast period. The healthcare market in China has undergone dramatic changes and is currently the second largest healthcare market in the world after US. Rising geriatric population, increasing urbanization coupled with increasing income are some of the key factors responsible for the growth of the healthcare market in China. However, healthcare spending in the country still accounts for less than 6% of the total GDP of the country. According to Insights and Reports, the healthcare spending in China was valued at more than US$ 750 Bn in 2017, yet the same accounts for a minimal percentage of the country’s total GDP. However, the healthcare expenditure in the country is expected to maintain an annual growth of an excess of 24% during the forecast period.

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