The Chinese healthcare market is attracting global attention; it is now the third largest in the world in medical devices, second in pharmaceuticals and its healthcare service market rapidly becoming one of the largest in the world.
The project healthcare spend is $1 trillion by the end of this decade. The growing disposable income, an ageing population and increasing government support is driving the growth of the Chinese healthcare industry, providing opportunities for partnerships between SMEs and local enterprises.
Chinese healthcare companies are actively looking outward to help them address the healthcare needs of China, seeking for both finished products and innovation with quality being key. The challenges for pharmaceutical, medical technology and healthcare businesses interested in tapping into these opportunities lie mainly in navigating the regulatory barriers, understanding how to work with Chinese healthcare companies, the growing competition with local businesses, intellectual property right protection and resourcing, staffing and talent retention.
There is never a better time to do business in China as foreign company and there is never a better time to do business with Chinese companies. Doing business in China is very different from elsewhere and doing business with Chinese companies is very different from elsewhere.
At China Business Solutions we understand these challenges and have vast experience with SME’s and Government agencies, where we have help steer businesses to enter China successfully. So come and talk to us about how we can help you tap into this Chinese healthcare market. Click here for more information.