Poised: the life science industry is booming
Driven by innovation, China Meheco Group Co.Ltd(600056) industry has become one of the most important participants in the global pharmaceutical field after years of development. In the long run, market demand, policy support, talent introduction and capital support have made China’s life science industry continue to flourish and continue to play an important role in the world.
The huge market demand drives the accelerated development of life science enterprises
According to the data of the seventh national census, the proportion of people over 60 years old will be 18% in 2020. According to the prediction of EIU, the proportion of people over 60 years old in China will reach 26% in 2030. With the aggravation of aging, the society pays more and more attention to the health needs of the elderly. At the same time, people’s demand for health is growing. Driven by the upgrading of consumption, the expenditure in the medical field is rising year by year. By 2020, the national medical expenditure has accounted for 7.1% of GDP, but there is still a certain gap with the average level of developed countries. In the next 10 years and beyond, China’s expenditure in the medical field will maintain growth. According to the prediction of the World Health Organization, China’s medical expenditure is expected to exceed US $trillion in 2023; The compound growth rate of national medical expenditure is expected to be 7.6% in the next five years, which is significantly higher than the compound growth rate of national GDP with an average of 4.8%. The high market demand of biomedicine has become the source power for the sustainable development of the industry.
