The Chinese healthcare and medical equipment
market is on a growth spurt that has Western OEMs salivating over its
sales potentials, and priming their supply chain for profit
opportunities in the world's most populous nation. Danger looms in the
$357 billion market, however, and failure to understand the challenges
of China's evolving healthcare industry could lead to missed
opportunities and losses for medical equipment vendors, according to a
research firm.
Researcher and market consultancy McKinsey projects the Chinese healthcare sector will nearly triple in value to $1
trillion by 2020 (from $357 billion in 2011) on demographic changes,
increased investment under the country's latest 5-year plan, and the
increased involvement of the private sector in healthcare delivery. The
mouthwatering growth has attracted Western multinationals in droves, but
according to McKinsey, an inevitable shakeout in the industry could
leave many late starters and losers disappointed.Read more: EBN
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