Even as China’s economic growth slows, its middle class is expected to continue expanding rapidly. As people get wealthier, one thing they consistently demand more of is healthcare. At present, less than 10% of people in China have private health insurance, and of that group, most have critical illness policies rather than basic reimbursement insurance. However, according to a report from the Boston Consulting Group, the situation is changing fast. Since 2010, the Chinese private insurance market has had a compound annual growth rate of over 30%, as the expanding group of middle-class and upper-middle class Chinese seek coverage for treatment in private hospitals and clinics. Also, from 2005 to 2014, the number of private hospitals in China more than tripled. The growth of private hospitals has the potential to increase sales of high-end pharmaceuticals and medical devices. The private hospitals that accept private insurance will be looking to purchase state of the art medical equipment and drugs to serve their relatively affluent clientele.