China is home to 1.3 billion of the world’s 7.5 billion people. Today 10% of its population is over 60 years old but by 2020 this figure will have risen to 17%. Smoking, pollution and lifestyle changes, including poor diet and stress, are contributing to the rise of high blood pressure, obesity, diabetes, cancer and heart disease. Combined with an increase in disposable incomes, demand for healthcare has never been greater in what is today still a dramatically under-served market.
Recent medical reform backed by the central government is closing the gap between lagging infrastructure and growing demand, and spending on healthcare is projected to grow from £228bn to £638bn by 2020. This presents a serious opportunity for western providers of healthcare solutions. But there are also many challenges: China covers 10 million square kilometers and is served by tens of thousands of sector-specific distributors driven by local relationships. The legal and regulatory process is burdened by corruption, ambiguity, language and cultural differences, while local distribution networks are subject to widely variant pricing structures.
So where can you get support to tackle the challenges and take advantage of the opportunity?
Intralink is a leading provider of business development services to European and North American companies targeting China and the broader APAC region. Through its fluent in-country Chinese speaking experts, it offers a transparent and hands-on approach, extensive in-country contacts, impartiality in the face of your strategic and partnership options, and a proven and unrivalled track record for delivering results.
For more information visit www.intralinkgroup.com.