Exploring China’s healthcare Market: Trends and opportunities

China is today the world's second largest market for medical devices (20% share with total revenue of RMB 800 billion in 2020) and medicine (30% share with total revenue of RMB 1.4 trillion in 2020). In 2020, China's total health expenditure was RMB 7.2 trillion (7.1% of GDP) and is expected to reach RMB 17 trillion in 2030.

According to the latest 5-year plan (2021-2025), China continues to invest massively in medical R&D, IT, AI, modern hospitals, medical devices, medicines, and treatment methods to meet the growing demand for high quality healthcare services.

To explore these market opportunities closer, the Danish Life Science Cluster, Nordic Life Science Partners ApS, Innovation Center Denmark Shanghai, and The Trade Council China with the support of Medtech Denmark has established a Partnership that offers a Step-by-Step Market Access Model with supporting services.

The purpose is to give Danish Life Science companies a more safe, efficient, and easier access to China’s healthcare market, and to take advantage of the preferential policies and opportunities at Hainan Boao Lecheng International Medical Tourism Pilot Zone (HBL) that can serve as a gateway and stepping stone to the mainland China market.

HBL offers among others a special fast-track approval procedure that makes it easier and quicker to register, import, sell, and test medical devices and medicines in urgent need by the individual hospitals in HBL that are not yet registered in China but approved overseas with a CE mark or FDA license.

Coloplast A/S is a medtech company that develops, manufactures, and sells medical supplies. In 2007, to better serve Chinese users, Coloplast China was founded with HQ in Beijing. Since then, a nationwide professional service network with regional centers in Beijing, Nanjing, Guangzhou, Shenyang, Wuhan, and Jinan has been established. Together with its manufacturing base in Zhuhai, Coloplast has about 2,000 employees in China. Today, Coloplast’s products and services are available in nearly 3,500 hospitals in 300 cities across China making Coloplast a preferred brand for Chinese ostomy patients.”

Lundbeck A/S is a global pharmaceutical company specialized in discovering and developing innovative treatments for brain diseases. In 2007, Lundbeck opened a branch office in Beijing, and from 2010-2021, Lundbeck’s branded portfolio has helped over 50 million patients in China. As one of the key markets, Lundbeck China is continuously dedicated to developing new treatments for patients with brain disease – clinical trials for the preventive treatment of migraine have been initiated in China in 2021. Lundbeck China held an official product launch event at HBL in late 2022.