China devices market set to soar by 2020 as GDP overtakes U.S., report says

A new report forecasts an increase in China's gross domestic product to drive an expansion of the middle class and an even greater increase in per capita spending on healthcare, all of it good for the nation's medical device market. The report by the Bharat Book Bureau forecast that by 2020, China's GDP will be larger than that of the United States, making it the world's largest by that score. In part, it said, that is the reason for a significant increase in per capita healthcare spending the report expects over the next 10 years. Because much of that spending will be by China's rapidly increasing geriatric population, estimated at 200 million two years ago, the devices industry is expected to get much of the benefit. And following that population will be health centers and expanding insurance. Release