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Complete Report is available @ http://www.marketoptimizer.org/countryfocus-healthcare-regulatory-and-reimbursement-landscape-china.html
China is the most populated country in the world. In 2012, its population was approximately 1.3 billion, approximately one fifth of the global population. Growth has however been effectively controlled and has slowed down due to the strict enforcement of family-planning and one-child policies. The decline in the size of the young working-age group and the growing elderly population are however matters of concern for policy planners. China’s pharmaceutical industry was estimated to be worth $287 billion in 2012. The market for western medicine was approximately $8.8 billion in 2007 and was estimated at $46.7 billion in 2012. The medical device market was worth approximately $20.1 billion in 2012 and is expected to reach approximately $53.5 billion by 2020 at a projected Compound Annual Growth Rate (CAGR) of 13.1%.