The Chinese government estimates that spending in its healthcare sector will reach $2.3 trillion by 2030, driven by the scale of China's population growth and shift to a consumption-driven economy.
In the latest episode of our podcast, Exchanges at Goldman Sachs, Stephanie Hui, head of Goldman Sachs' Merchant Banking Division in Asia-Pacific ex-Japan, explains how these dynamics are creating key investment opportunities in the pharmaceuticals, medical equipment and medical services markets.
"People are willing to pay out of pocket for more differentiated and more customized healthcare," Hui says. And while the Chinese healthcare industry is, for now, focused on manufacturing "me too" drugs -- generics that copy existing products already on the market -- the industry will gradually evolve into higher quality "me better" and "first in class" stages as China focuses on research, innovation and developing customized drugs for the local population, Hui says.
Click here to listen to the Podcast - https://www.goldmansachs.com/insights/podcasts/episodes/11-26-2018-stephanie-hui.html?cid=eml-np-briefings-briefings-textlink-201801--