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The Pharmaceutical Market: China
Management Report
Published: January 2010
Pages: 76
Tables: For full details, please email keithw@cmsinfo.com
From: GBP 595.00 Buy Now!
Research from: Espicom
Sector: Prescription Medicines
Espicom’s in-depth pharmaceutical market reports are ideal for executives wanting to understand the key drivers in pharmaceutical markets and have access to a wealth of statistical data. Each report opens with an outlook section that provides analysis of the market, 5-year market forecasts, national data projections, market outlook and key developments such as regulation, pricing/reimbursement, intellectual property, health facilities and government policy. The report also provides extensive background information, population trends, health status, health expenditure, organisation & administration, hospital services, medical personnel, healthcare development, market access information, trade data for raw materials and finished products and essential industry contacts. Included with the report are 3 free quarterly updated outlook reports, enabling you to keep up to date with market developments for a year.
China is the world's most populous country and fastest growing major economy. This report is ideal for executives wanting to understand the key drivers in the pharmaceutical market and have access to a wealth of statistical data, including five-year market projections. Quarterly updated reports are included in the price, enabling you to keep up to date with market developments for a year.
Espicom's highly regarded world pharmaceutical market reports have been redesigned to provide enhanced strategic intelligence in a user-friendly format. Each report provides in-depth information, setting the pharmaceutical market in context. The reports provide:
Five-year projections for economic, demographic, health expenditure, health workforce and pharmaceutical market indicators.
Specialised intelligence on OTCs, generics, biologics and biosimilars.
Exclusive economic and demographic data from the Economist Intelligence Unit (EIU) for each market in the series.
A separate statistical health file, comprising health expenditure, health infrastructure, health services and health personnel.
The reports are updated quarterly, providing you with the latest information for a full year. In addition, the service will keep you up to date with market and industry news on a regular basis.
CHINA - MARKET REVIEW
In recent months there has been a lot of political dialogue between the United States and China regarding trade between the two countries, with a particular emphasis on the USA’s massive trade deficit with China, and also China’s unwillingness to allow the Yuan to appreciate against the US dollar. These two issues are interlinked, as China keeps the Yuan’s value low in order to maintain export levels, thus also maintaining the trade surplus it has with the USA, which currently stands at around US$22.1 billion. It is likely that in the future China will give in and let the Yuan appreciate, but only by a small amount; exports will continue to play a major role in Chinese monetary policy.
All urban and rural residents (whether employed or not) should by the end of 2010 be covered by health insurance, and in the case of rural residents, an additional fund. Universal healthcare access is expected by 2020, following a recent announcement to commit another US$124 billion to the project. This will enable all counties in China to possess a hospital, and will alleviate the current disparity of access. Currently, urban centres such as Beijing and Shanghai have a far higher rate of beds per thousand population. This has led to increased health expenditure, with spending in 2015 projected to be double 2010s figure. However, despite having the largest number of physicians in the world, the rate per thousand is still low by world standards.
In the annual USTR Special 301 Report, China remains on the Priority Watch List for its high instances of copyright infringement. The Report believes that in some cases local government officials have encouraged IPR infringement in an attempt to keep jobs throughout the financial crisis. Although China’s 2008 Action Plan on IPR Protection has been welcomed by the USTR, it continues to have concerns about its effective protection of test data disclosed during marketing approval, as it is believed that this is where most cases of IPR infringement originate. This has led to the Chinese market being dominated by generic drugs. The local manufacturing sector specialises in the production of off-patent generics, such as antibiotics, or copied drugs. It is estimated that around 97% of drugs produced by domestic firms are generics, although many will be counterfeit. This is a practice which has been going on for a number of years and the government has found hard to regulate.
The increased presence of multinational firms in China, the requirements of the WTO, and current excess capacity all mean that increasing pressure is on the domestic industry to do more than just duplicate existing products. As a result, pharmaceutical R&D is increasingly being encouraged by the Chinese government. Around one third of China's provinces have highlighted the pharmaceutical industry as a target for development, and universities and manufacturers often collaborate closely on research projects. The SFDA has laid out a number of exemptions from import duties and other custom taxes that foreign companies can benefit from if they undertake R&D in the country. Foreign companies involved in joint ventures are likely to benefit from the exemptions to a much greater extent than those which are not. The SFDA's longer term objective is to produce proprietary medicines which are able to compete on the international market.
Espicom's highly regarded world pharmaceutical market reports have been redesigned to provide enhanced strategic intelligence in a user-friendly format. Each report provides in-depth information, setting the pharmaceutical market in context. The reports provide:
Five-year projections for economic, demographic, health expenditure, health workforce and pharmaceutical market indicators.
Specialised intelligence on OTCs, generics, biologics and biosimilars.
Exclusive economic and demographic data from the Economist Intelligence Unit (EIU) for each market in the series.
A separate statistical health file, comprising health expenditure, health infrastructure, health services and health personnel.
The reports are updated quarterly, providing you with the latest information for a full year. In addition, the service will keep you up to date with market and industry news on a regular basis.
CHINA - MARKET REVIEW
In recent months there has been a lot of political dialogue between the United States and China regarding trade between the two countries, with a particular emphasis on the USA’s massive trade deficit with China, and also China’s unwillingness to allow the Yuan to appreciate against the US dollar. These two issues are interlinked, as China keeps the Yuan’s value low in order to maintain export levels, thus also maintaining the trade surplus it has with the USA, which currently stands at around US$22.1 billion. It is likely that in the future China will give in and let the Yuan appreciate, but only by a small amount; exports will continue to play a major role in Chinese monetary policy.
All urban and rural residents (whether employed or not) should by the end of 2010 be covered by health insurance, and in the case of rural residents, an additional fund. Universal healthcare access is expected by 2020, following a recent announcement to commit another US$124 billion to the project. This will enable all counties in China to possess a hospital, and will alleviate the current disparity of access. Currently, urban centres such as Beijing and Shanghai have a far higher rate of beds per thousand population. This has led to increased health expenditure, with spending in 2015 projected to be double 2010s figure. However, despite having the largest number of physicians in the world, the rate per thousand is still low by world standards.
In the annual USTR Special 301 Report, China remains on the Priority Watch List for its high instances of copyright infringement. The Report believes that in some cases local government officials have encouraged IPR infringement in an attempt to keep jobs throughout the financial crisis. Although China’s 2008 Action Plan on IPR Protection has been welcomed by the USTR, it continues to have concerns about its effective protection of test data disclosed during marketing approval, as it is believed that this is where most cases of IPR infringement originate. This has led to the Chinese market being dominated by generic drugs. The local manufacturing sector specialises in the production of off-patent generics, such as antibiotics, or copied drugs. It is estimated that around 97% of drugs produced by domestic firms are generics, although many will be counterfeit. This is a practice which has been going on for a number of years and the government has found hard to regulate.
The increased presence of multinational firms in China, the requirements of the WTO, and current excess capacity all mean that increasing pressure is on the domestic industry to do more than just duplicate existing products. As a result, pharmaceutical R&D is increasingly being encouraged by the Chinese government. Around one third of China's provinces have highlighted the pharmaceutical industry as a target for development, and universities and manufacturers often collaborate closely on research projects. The SFDA has laid out a number of exemptions from import duties and other custom taxes that foreign companies can benefit from if they undertake R&D in the country. Foreign companies involved in joint ventures are likely to benefit from the exemptions to a much greater extent than those which are not. The SFDA's longer term objective is to produce proprietary medicines which are able to compete on the international market.