Talent Cluster Snapshot - Life Sciences China

Talent Cluster Snapshot - Life Sciences China

China’s Life Sciences market has grown dramatically accounting for 5.6% of the global market in 2011. By 2015, it is expected to be the world’s second largest market after the US. China’s annual health care spending is estimated to be approximately $217 billion annually (est. 2010). Experience to date suggests that China’s emergence as a leading destination for Foreign Direct Investment (FDI) is due to both the revenue and operating margin opportunities. The challenge for China now is the speed of economic transformation - the increase in demand for skilled and suitable workers is rapidly outpacing the increase in supply. As a result Companies must focus more intensely on talent strategies to ensure their success in emerging markets.