• World's largest population
• World's second largest economy—2010 GDP up 10%
• One of the world's fastest growing middle classes
• Changing lifestyles exploding needs for China medical device market (heavy smokers with rising obesity, diabetes, cancer, heart disease, disease rates)
The numbers:
Population: • 1.3 billion people
Aging: • By 2020, 200 million + will be 60+
Wealthier: • As of mid-2010 China's largest companies boosted wages 24-80% • China middle class forecasted to increase to 700 million in 2020
Booming Market: • China medical device market of $14 billion • Projected to double by 2014 and reach $50 billion by 2020 • 75% of products in China medical device market 30+ years old