China and Hong Kong Medical Equipment
The healthcare market in China and Hong Kong is experiencing significant growth.
China and Hong Kong’s medical rehabilitation equipment markets are experiencing significant demand driven by aging populations, sizeable populations of chronic disease patients, and growing disposable income. China’s medical rehabilitation market is estimated to reach $14.4 billion in annual sales by 2023, with an annual compound growth rate of over 18 percent.
The main sources of demand relate to post-operative rehabilitation of patients from the neurology, neurosurgery, orthopedics, pediatrics, gynecology and obstetrics, and cardiopulmonary departments.
Upgrading China’s healthcare system is a government priority, spurred by population and healthcare realities. At the end of 2019, China registered 254 million people aged 60 and above, accounting for 18.1% of the total population. This demographic will reach 300 million by 2025. Chinese government data reveals 300 million patients with chronic disease and 30 million children aged 0-15 requiring rehabilitation. These realities drive the need for therapy equipment, daily living aids, mobility equipment, and body support devices.
For more information contact Office.Beijing@trade.gov