Researcher: China will be home to world's largest health sector in 2030
China Watch |
Updated: 2018-06-05 17:30
China is expected to be the world's largest health industry market in 2030, when the sector will be worth an estimated 30 trillion yuan ($4.68 trillion), according to Wei Jigang, a researcher with the Development Research Center of the State Council.
At present, the health sector is second only to the United States, and as the world's most populous country the prospects for development are extremely broad, Wei said in an article published on the center's website on June 1. By 2020, the health market is expected to be worth 10 trillion yuan, Wei said.
He wrote that the sector is seeing an important period of new technology, economies, businesses, and humanity features interwoven. Its integration with various industries such as senior caring, fitness, tourism, culture, beauty, and real estate is continuously increasing.
He pointed out that the new round of scientific and technological revolution has had a profound impact on the development of the industry.
New medical materials and high-end medical devices have been invented, he said. The deep application of the internet, internet of things, big data, and artificial intelligence has updated the industry, making tele-consultation, precision healthcare and personalized medicine a reality, he wrote.
China is expected to be the world's largest health industry market in 2030, when the sector will be worth an estimated 30 trillion yuan ($4.68 trillion), according to Wei Jigang, a researcher with the Development Research Center of the State Council.
At present, the health sector is second only to the United States, and as the world's most populous country the prospects for development are extremely broad, Wei said in an article published on the center's website on June 1. By 2020, the health market is expected to be worth 10 trillion yuan, Wei said.
He wrote that the sector is seeing an important period of new technology, economies, businesses, and humanity features interwoven. Its integration with various industries such as senior caring, fitness, tourism, culture, beauty, and real estate is continuously increasing.
He pointed out that the new round of scientific and technological revolution has had a profound impact on the development of the industry.
New medical materials and high-end medical devices have been invented, he said. The deep application of the internet, internet of things, big data, and artificial intelligence has updated the industry, making tele-consultation, precision healthcare and personalized medicine a reality, he wrote.
