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The Foresight of China’s Wellness Industry in 2019

Date:2019-03-28 15:03:24

The wellness industry is one of the biggest and most ambitious sunrise industries in today’s world as well as one of the most essential strategic emerging industries in China. Now, the national strategy “Healthy China” has added further importance to this industry, giving it an even brighter future.
As an industry with huge potential, the wellness industry includes several fields of production and services closely related to human’s health, such as medical services, medicines, health care products, medical apparatus, leisure health care services, Health Management Consulting, etc.
Grand impetus from three major factors
Ø Population Aging
In 2017, the country's population aged 60 and over was 240.9 million, accounting for 17.3%; the population aged 65 and over was 158.31 million, accounting for 11.4%. As China's population aging continues to accelerate, consumer groups and scales will further expand creating a large boost to the health industry. For now, the development of Chinese medicine and the wellness industry is in the ascendant, and the future prospects are quite bright.
Source: chnci.com
Ø National Policy
Chinese government always put people’s interests first. For the sake of people’s health, a practical new medical reform plan and a “Healthy China 2020” strategy have been put forward, indicating that building a strong and healthy nation has come to the level of national strategy, which gives strong policy preferences to the development of the health industry, while “Healthy China 2030” raises a higher expectation for people’s health conditions health service system that encourages efforts to achieve health for all.
Ø The Rising of Health Consciousness
There are two types of disease, one is congenital genetic disease, and the other is acquired disease. Unhealthy living habits provide an opportunity for diseases to invade the body. It is hard to predict when the disease attack will suddenly happen. What is more dreadful is that people often overlook the existence of diseases causing the young passing away in an instant before they know. One or two decades ago, people who are willing to learn their health condition was mainly aged over 50, but today, physical examination has already been popularized among people aged from 20 to 30. Benefiting from this, the life expectancy of Chinese people is expected to increase by 20 years in the next two decades.
The Bright Future for the Wellness industry
At present, the development of China's wellness industry is in its infancy with great market potential. According to Paul Pilzer, this industry is “the Next Big Thing of Wealth” after IT industry. Especially for China, the current “Healthy China” strategy has further enhanced the status of the wellness industry, giving it an even brighter future. In 2017, the total output value of domestic wellness industry is about RMB 6 trillion. It is estimated that by 2020, the industry will exceed RMB 8 trillion.

International Wellness Industry Expo 2019 (Wellness China 2019) 
Date: May 28th-30th, 2019
Venue: Poly World Trade Center Expo
Website: http://www.cnwie.com/index.php?lang=en