Boston, MA -- (ReleaseWire) -- 04/08/2014 -- Highlights from the Region
China has the world's largest population. In 2009, it was officially estimated at 1,334.7 million. The province of Guangdong, in south-central China, had the largest population, with 96.4 million, equal to 7.2% of the total. Eastern China was the most populated region of the country, inhabited by 384.9 million people in 2009. The area includes Shanghai, China's largest city, with a population of 19.2 million. In 2009, the Chinese government committed CNY 850 billion (US$124 billion) to develop the country's healthcare system over a three-year period. The plan is to create a solid platform for universal healthcare access for all by 2020. The Chinese government has expanded the health insurance programme to cover all rural residents. Urban health insurance was already well established, covering nearly all working citizens, and cover has now been extended to all urban dwellers, including the unemployed and children who were not covered previously.
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Despite being small in size, Hong Kong has one of the largest markets in Asia. The Hong Kong market for medical equipment and supplies was estimated at US$497.0 million in 2012. In per capita terms, expenditure was US$69.5 in 2012. The medical device market is projected to expand at a CAGR of 8.6% in US dollar terms over the forecast period, increasing to US$750.6 million in 2017, equivalent to US$103.1 per capita.
Japan is the third largest economy in the world behind the USA and China. The medical device market remains the second largest, behind only the USA. Per capita GDP is also high, among the top ten in the world. The USA and Germany are the only countries to import more medical equipment, and Japan is the eighth highest exporter of medical devices in the world. Japan has some of the best vital statistics in the world, including the lowest infant mortality rate and highest adult life expectancy. A rapidly ageing population has burdened the healthcare system both in terms of funding and facilities and is of great concern for the Japanese government. In September 2011, the Ministry of Health said medical spending has continued to rise in line with the ageing population and also blamed the rise on the use of increasingly sophisticated and expensive equipment & technology, such as MRI, CT and endoscopic keyhole surgery.
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