National healthcare reforms will stimulate sales of the drugs in the country, along with the country’s chronic disease burden increasing and its ageing population.
Dr James Evans, a pharmaceutical industry analyst, says that “China has been the best hope for the pharmaceutical industry” in recent years and its market is now “no longer a hope but a certainty for the medical industries”.
The report, Chinese Pharmaceutical Market 2012-2022, by visiongain, found that the overall market generated $53.3bn last year – nearly a quarter of which came from anti-infective drugs.
However, future revenue will increasingly come from treatments for cancer, cardiovascular, cerebrovascular diseases, diabetes and central nervous system (CNS) disorders. Sales of vaccines will also boost the overall growth, the report adds.
The Chinese Government’s Healthy China 2020 plan – on top of its 2008 public healthcare reforms – will see up to $1.4 trillion invested in the next nine years – a figure set to surpass even US spending on healthcare reforms.
“Every leading company is outsourcing operations to China, building contacts, partnerships and infrastructure, and adjusting its portfolio to that country,” said Dr Evans. “The main question is whose business activities will pay off best this decade.”