The Rising Influence of Rising Affluence

[DewDiligence]

China will spend $1 Trillion annually on healthcare by 2020, according to McKinsey:

http://www.bloomberg.com/news/2012-08-29/china-health-care-spending-may-hit-1-trillion-by-2020.html

Health-care spending in China will almost triple to $1 trillion annually by 2020 driven by an aging population and government efforts to broaden insurance coverage, according to a McKinsey & Co. report released today.

China will spend more on drugs, medical devices and hospital treatments as it lifts spending to 7 percent of gross domestic product from 5.5 percent, or $350 billion, in 2010, McKinsey said. This will make it the biggest market globally by 2020 after the U.S., which in 2009 spent $2.5 trillion, or 17.6 percent of its GDP, on health care, said the consulting company.

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