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The European Union's population shrank for a second year running last year, the bloc's statistics office said on Monday, as the region reels from over two million deaths from the coronavirus. According to Eurostat, the population of the 27 countries that make up the bloc fell by close to 172,000 from the previous year and over 656,000 from January 2020. "In 2020 and 2021 the positive net migration no longer compensated for the negative natural change in the EU and, as a consequence, the EU total population has been decreasing," it said, pointing to impacts from the pandemic. The number of deaths began outstripping births in the EU a decade ago, but immigration from outside the bloc helped offset the gap until the first year of the pandemic. The previous time the EU had registered a fall in population was in 2011 - the only other time since 1960 - but this rapidly picked up due to net migration.

China is one of the fastest growing global economies with a fourth population in the world, and is one of the largest healthcare markets around the world. Along with sustained economic and population growth, Chinese healthcare market has maintained annually average growth rate above 16 % since 1990s.