China hospital industry has been developing quickly in recent years, thanks to the market demand stimulus and steady progress in health care reform. The number of Chinese hospitals grew at a CAGR of 6% in 2011-2013, higher than 2.26% in 2005-2010. The revenue of China hospital industry jumped at a CAGR of 23.6% in 2011-2013, and it is expected to maintain the growth rate of over 20% and hit RMB4.07 trillion in 2017.
At the same time, various social capital flows to the Chinese hospital market by self-establishment, mergers and acquisitions (including participation in the restructuring of public hospitals), joint ventures, associates and other forms, which boosts the expansion of private hospitals. As of the end of 2013, Chinese private hospitals had accounted for 45.8% of the total Chinese hospitals, increasing by 24.5 percentage points compared with 2006. However, from the point of view of revenue structure, public hospitals still took a dominant position with the proportion of over 90%, but the figure shows a decreasing trend now.
In the private hospital investment boom, specialized hospitals involved with small investment, high returns and strong market demand have become a hotspot for social capital. Currently, the proportion of Chinese specialized hospitals in private hospitals reaches about 65%. Specialized hospitals in huge demand, such as dental hospitals, ophthalmic hospitals, plastic surgery & cosmetic hospitals, even achieve the profit margins of more than 10%, much higher than the overall level of Chinese hospitals (about 5%).
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The enterprises focusing on medicine, including Shanghai Fosun Pharmaceutical, Jinling Pharmaceutical, Inner Mongolia Furui Medical Science, Wuhan Jianmin Pharmaceutical, Yibai Pharmaceutical, China Resources Sanjiu and Kangmei Pharmaceutical, are actively extending to