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Nowhere in the world are the twin pressures of increasing healthcare access while controlling costs more obvious than in China. A recent study by Yanzhong Huang at the Council on Foreign Relations shows that healthcare outcomes in China have broadly deteriorated since Mao. For all the positive benefits economic reforms and privatization have done in China, improving healthcare access for the average Chinese has not resulted. As illustrated by the 12th Five-Year Plan, China’s Central Government is focused on expanding the nation’s public insurance scheme, significantly investing in new hospitals and clinics, and making more healthcare services accessible.
This should translate to exciting growth opportunities for a variety of healthcare MNCs. Medical device companies like Boston Scientific , J&J and Medtronic are aggressively expanding into China. Even insurance company WellPoint has announced its entry with the hopes that it can develop a private healthcare insurance business. While these companies have many reasons to be excited about the market opportunity in China, the recent experience of MNC pharmaceuticals should strike a note of caution.
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