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Swedish healthcare industry booming in China

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China’s aging population has created a growing market for healthcare products from Sweden.
Swedish exports of medical and pharmaceutical products have almost doubled in the period of four years, with China becoming an increasingly important market for healthcare companies in Sweden.

Swedish exports of medical and pharmaceutical products increased from 5.4 billion kronor in 2013 to just under 10 billion kronor (€941 million, $1.1 billion) in 2017, according to figures from the National Board of Trade (Kommerskollegium). Exports in the first quarter of 2018 were 93 percent higher than the same period last year.

“The explosive growth is driven by two things. One is the demographic change in China, where the population is aging faster than any other country. The second growth factor is that China is currently expanding its welfare system,” said David Hallgren, trade commissioner for China at Business Sweden.