The China Medical Technology and Medical Service Market
China is a Great Market for Medical Technology and Medical Services -- and probably will be the best market in the world over the next decade.
And it will be a Great Market for Foreign Medical Technology, Products, and Services –in fact, it already is a great market for foreign medical technology and services.
China currently imports more than US$90 billion of medical supplies and technology annually, and that number is expected to increase substantially by Chinese experts in the sector because of considerably more need, the money in China to pay for those technologies and services, and the Government of China’s push for a substantial upgrade in China’s medical sectors technology and capacities.
Many new hospitals are going to need to be built and existing ones upgraded to meet China’s current and future needs. This presents considerable opportunity.
Driving factors include the world’s largest population and aging population, the government’s increased investment in establishing and improving the healthcare infrastructure, and improvement of basic health insurance for all the population. This has created huge demand for better healthcare services and thus the need for medical devices and products in China.
Two factors are at work driving health care spending in China. With rising per capita incomes, China’s increasingly affluent consumers are demanding the latest in medical treatment and services. At the same time, changing diets and air and water pollution are causing a rise in the incidence of cancer, heart, diabetes and other chronic diseases among China’s population. Both are creating new opportunities for pharmaceuticals, medical devices, hospital management and companies that provide a wide range of health-care products and services.
According to a report by the World Health Organization (WHO), China accounted for over three million newly diagnosed cases of cancer, almost 22 percent of the global total, and 2.2 million cancer deaths, 27 percent of the world’s total, in 2012. In addition to being hard hit by cancer, the WHO also estimates that approximately 230 million Chinese currently suffer from cardiovascular disease, and that annual cardiovascular events will increase by 50 percent between 2010 and 2030 based on population aging and growth alone. The incidence of diabetes tells a similar story. Almost one-in-three global diabetes sufferers today is in China, with approximately 114 million adults afflicted by the disease.
Many New Hospitals in China are Going to Have to be Built, Staffed, Equipped, Managed and Operated
In order to combat these growing health issues, many of China’s 22,000 hospitals will need to be substantially upgraded or replaced in the coming years. In addition, the Chinese government is counting on foreign-owned hospitals, the ownership of which was previously highly restricted or forbidden, to fill some of the void.
McKinsey and Company:
“More than 1,500 new private hospitals opened in China in 2013, a number of which are foreign owned. The shortcomings of the mainstream public healthcare system in China are not likely to be overcome quickly. Patients are looking for solutions where both cost and quality are more certain, and private and foreign companies are being encouraged to deliver. There is a related boom in supplying equipment to these new facilities.”
From Mckinsey and Company Report : “Doing business in China” identified Industries with the potential for faster growth in the next decade
China’s Medical Device Market:
China is the most promising medical device market in the world. The average annual growth rate has been over 20 percent since 2009 and is expected to maintain that growth rate during the next three to five years.
With a rising Chinese middle class and improved health insurance to cover all nationals, the demand for quality equipment and supplies is growing at an unprecedented pace.
China offers significant potential for Canadian and United States’ companies interested in entering and expanding into the Chinese medical device market.
Despite the US$90 Billion in annual medical technology and supply imports. China’s medical device market is still for the most part dominated by domestic suppliers, the majority of which generally lack the expertise and experience deemed appropriate by Western standards. While some Chinese medical device companies are upgrading to provide some mid to high range technology and products, high-tech medical equipment is still dominated by foreign suppliers. Compared with domestic products, imported products are better accepted by the Chinese hospitals and the Chinese view foreign medical device companies as more credible than their Chinese counterparts.
GSME Services to North American Medical Technology Companies and Medical Service Companies and Institutions Seeking to do Business with China
A focus of GSME is going to be to assist in meeting China’s Medical Technology and Service needs.
GSME will do this by:
Canada and the United States have many of the World’s Most Advanced Medical Technologies and their Medical Service Sector (Hospitals, Clinics, Medical Laboratories, Medical Research Institutes, and Senior Care) are amongst the Best in the World for the Services and Care they provide.
Canadian and United States companies have World Leading Technologies and Medicines to help China meet its needs for the treatment of the hundreds of millions of Chinese people suffering from diabetes, cardiovascular issues, and cancer, to name but a few of the areas that leading edge medicine and technologies are available from North America.
Canada and the United States have long experience in dealing with Elderly and Senior Care and have developed all kinds of specialty equipment and supplies to make the lives of seniors much higher quality and comfortable as they age. Much of this equipment can also be used by the elderly in their homes to make their daily lives much easier, more comfortable, less painful, and safer, if they wish to continue living at home.
Working with our China Strategic Partner, Uniquantum Investment Ltd, which has considerable expertise on China’s Medical Technology and Health Care Sector as it is an area that they invest in and raise financing for, we provide services to North American Medical Technology Companies and Medical Service Companies seeking to do Business with China which include:
Under Certain Conditions Joint Venture Arrangements May be Possible.
Working with Uniquantum Investment Ltd, GSME can also provide Services, Support, and Assistance to various levels of Government (Federal/National, State/Provincial, and Municipal/City) for Medical Business and Investment Initiatives with China.
China is a Great Market for Medical Technology and Medical Services -- and probably will be the best market in the world over the next decade.
And it will be a Great Market for Foreign Medical Technology, Products, and Services –in fact, it already is a great market for foreign medical technology and services.
China currently imports more than US$90 billion of medical supplies and technology annually, and that number is expected to increase substantially by Chinese experts in the sector because of considerably more need, the money in China to pay for those technologies and services, and the Government of China’s push for a substantial upgrade in China’s medical sectors technology and capacities.
Many new hospitals are going to need to be built and existing ones upgraded to meet China’s current and future needs. This presents considerable opportunity.
Driving factors include the world’s largest population and aging population, the government’s increased investment in establishing and improving the healthcare infrastructure, and improvement of basic health insurance for all the population. This has created huge demand for better healthcare services and thus the need for medical devices and products in China.
Two factors are at work driving health care spending in China. With rising per capita incomes, China’s increasingly affluent consumers are demanding the latest in medical treatment and services. At the same time, changing diets and air and water pollution are causing a rise in the incidence of cancer, heart, diabetes and other chronic diseases among China’s population. Both are creating new opportunities for pharmaceuticals, medical devices, hospital management and companies that provide a wide range of health-care products and services.
According to a report by the World Health Organization (WHO), China accounted for over three million newly diagnosed cases of cancer, almost 22 percent of the global total, and 2.2 million cancer deaths, 27 percent of the world’s total, in 2012. In addition to being hard hit by cancer, the WHO also estimates that approximately 230 million Chinese currently suffer from cardiovascular disease, and that annual cardiovascular events will increase by 50 percent between 2010 and 2030 based on population aging and growth alone. The incidence of diabetes tells a similar story. Almost one-in-three global diabetes sufferers today is in China, with approximately 114 million adults afflicted by the disease.
Many New Hospitals in China are Going to Have to be Built, Staffed, Equipped, Managed and Operated
In order to combat these growing health issues, many of China’s 22,000 hospitals will need to be substantially upgraded or replaced in the coming years. In addition, the Chinese government is counting on foreign-owned hospitals, the ownership of which was previously highly restricted or forbidden, to fill some of the void.
McKinsey and Company:
“More than 1,500 new private hospitals opened in China in 2013, a number of which are foreign owned. The shortcomings of the mainstream public healthcare system in China are not likely to be overcome quickly. Patients are looking for solutions where both cost and quality are more certain, and private and foreign companies are being encouraged to deliver. There is a related boom in supplying equipment to these new facilities.”
From Mckinsey and Company Report : “Doing business in China” identified Industries with the potential for faster growth in the next decade
China’s Medical Device Market:
China is the most promising medical device market in the world. The average annual growth rate has been over 20 percent since 2009 and is expected to maintain that growth rate during the next three to five years.
With a rising Chinese middle class and improved health insurance to cover all nationals, the demand for quality equipment and supplies is growing at an unprecedented pace.
China offers significant potential for Canadian and United States’ companies interested in entering and expanding into the Chinese medical device market.
Despite the US$90 Billion in annual medical technology and supply imports. China’s medical device market is still for the most part dominated by domestic suppliers, the majority of which generally lack the expertise and experience deemed appropriate by Western standards. While some Chinese medical device companies are upgrading to provide some mid to high range technology and products, high-tech medical equipment is still dominated by foreign suppliers. Compared with domestic products, imported products are better accepted by the Chinese hospitals and the Chinese view foreign medical device companies as more credible than their Chinese counterparts.
GSME Services to North American Medical Technology Companies and Medical Service Companies and Institutions Seeking to do Business with China
A focus of GSME is going to be to assist in meeting China’s Medical Technology and Service needs.
GSME will do this by:
- Assisting Health Service Providers and Medical Technology Companies in North America to Successfully Sell into the China Market and to Enter into China and Operate there;
- Assisting Chinese Medical Companies and Institutions Source Medical Equipment and Technologies from North America;
- Assisting North American Companies and Institutions Work Together with Chinese Companies and Institutions in new Medical Technology and Pharmaceutical Co-Development and Commercialization Initiatives.
Canada and the United States have many of the World’s Most Advanced Medical Technologies and their Medical Service Sector (Hospitals, Clinics, Medical Laboratories, Medical Research Institutes, and Senior Care) are amongst the Best in the World for the Services and Care they provide.
Canadian and United States companies have World Leading Technologies and Medicines to help China meet its needs for the treatment of the hundreds of millions of Chinese people suffering from diabetes, cardiovascular issues, and cancer, to name but a few of the areas that leading edge medicine and technologies are available from North America.
Canada and the United States have long experience in dealing with Elderly and Senior Care and have developed all kinds of specialty equipment and supplies to make the lives of seniors much higher quality and comfortable as they age. Much of this equipment can also be used by the elderly in their homes to make their daily lives much easier, more comfortable, less painful, and safer, if they wish to continue living at home.
Working with our China Strategic Partner, Uniquantum Investment Ltd, which has considerable expertise on China’s Medical Technology and Health Care Sector as it is an area that they invest in and raise financing for, we provide services to North American Medical Technology Companies and Medical Service Companies seeking to do Business with China which include:
- Assistance and Support in the Development of New Medical Service and Medical Technology Business with China;
- Assistance and Support for More Successful Medical Service and Medical Technology Business with China;
- Assistance and Support for Expanded and Diversified Medical Service and Medical Technology Business with China;
- Assistance and Support in Selling Medical Products and Medical Technologies to China;
- Advice, Guidance, and Support in Securing Business and Project Financing;
- Assistance and Support for the Establishment and Operation of Medical Technology and Medical Product Co-Development and Commercialization Projects with Companies and Institutions in China supported by Financing and Investment from China;
- Assistance and Support in the Marketing and Promotion of your Medical Services or Medical Technology Company and its Products and Services to China;
- Assistance in Developing Specific Medical Products, Services, and Projects for the China Market that would offer Great Opportunity for China Market Penetration and Success;
- Assistance and Support for the Construction of New Facilities, and for the Purchasing and Renovation/Conversion of Existing Facilities in China, to be Used to Provide Medical Services in China (Clinics, Hospitals, Medical Testing and Laboratory Facilities, etc);
- Ongoing Business Development and Operations Support in China;
- China Asset and Business Management Services;
- Support in Securing Necessary Business Partners and Necessary Business Support Services in China (including high level legal and accounting support services in China);
- Advice, Guidance, and Support for Securing Necessary Approvals in China;
- Assistance in China Negotiations;
- China Due Diligence Studies;
- Preliminary and Advanced Business Structuring;
- Investment Project Analysis and Planning;
- Training on China, and Doing Business in China, for Businesses and Institutions Engaging with China or Seeking to Engage with China. (Training Programs are tailored to the specific needs and circumstances of client companies and institutions);
- Preliminary and Advanced Business Plan and Market Plan Development for Securing and Improving Medical Service and Medical Technology Business with China;
- Advice and Guidance on Making Adjustments to Current Plans for Projects to make those Projects Attractive to Investment and Financing from Companies and Financial and Investment Institutions from China;
- Medical and Medical Technology Business and Project Feasibility Assessments;
- Preliminary and Advanced Evaluation, Assessment, and Identification of What Could be Achieved by your Medical Service or Medical Technology Company (given your company’s capabilities) (the opportunities present) and (how you could be positioned) from Doing Business with China;
- Review and Assessment of your Company’s Already Planned Projects to Determine if Financing or Investment from China is Possible and Identification of the Probable Terms and Conditions that could be expected;
- Identification of Potential New Business Opportunities and Projects Involving China or Chinese Business that could Attract Investment or Financing from China and Identification of the Probable Terms and Conditions that could be expected;
- Evaluation and Assessment of your Company’s or Institution’s Current Business Positioning, Operations and Strategies for Medical and Medical Technology Business with China (including current Marketing and Market Entry Strategies for China) to Determine if more Effective Approaches are Possible;
- Preliminary and Advanced Evaluation of the Opportunities and Requirements for your Medical Technology Business or Medical Services Institution/Business (Hospital, Clinic, Laboratory Services, Diagnostic Services, Elderly Care, etc.) to succeed in China;
- Consulting Services and Guidance on the Nature of the Opportunities in the Medical Technology and Medical Services Business in China and what they involve.
Under Certain Conditions Joint Venture Arrangements May be Possible.
Working with Uniquantum Investment Ltd, GSME can also provide Services, Support, and Assistance to various levels of Government (Federal/National, State/Provincial, and Municipal/City) for Medical Business and Investment Initiatives with China.