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Government Healthcare Reforms Foster Development of Chinese Pharmaceutical Market, Finds Frost & Sullivan


News provided by

Frost & Sullivan

28 May, 2013, 03:19 GMT

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-- Local pharmaceutical companies widen their presence through partnerships and acquisitions

SHANGHAI, May 28, 2013 /PRNewswire/ -- Rising incomes, improving healthcare infrastructure, and enhanced insurance systems have propelled the Chinese pharmaceutical market to become the third-largest in the world. The entry of multinational companies has granted local manufacturers access to advanced technologies and further aided market development in the country.

New analysis from Frost & Sullivan (http://www.lifesciences.frost.com), Chinese Pharmaceutical Market, finds that the market earned revenues of $131.63 billion in 2012 and estimates this to more than double to $280.30 billion in 2016.

"Apart from the opportunities created by government healthcare reforms for essential drug systems as well as medical insurance and primary healthcare solutions, the impending expiry of several drug patents boosts the prospects of local pharmaceutical manufacturers in China," said Frost & Sullivan Healthcare Research Analyst Kai Lu.

While government reforms have fuelled market growth, they have also led to challenges in essential drug tendering, market access, and price setting, affecting certain manufacturers' margins in the country.

Therefore, local companies must build strong market-access capabilities, and engage with the government to secure national and provincial reimbursement listings. They also need to strengthen their relationships at the provincial and city levels by investing in commercial teams and distribution partnerships.

It is clear that companies with rich product portfolios will be better positioned to meet the diverse needs of different regions. Large domestic pharmaceutical manufacturers with a powerful technology team to maintain product quality will enjoy higher competitiveness and clinical performance. The integration of active product ingredients and pharmaceutical formulations will also maximize profit margins.

"Innovative products will hasten market growth in China, as mature products with expired patents experience significant price reduction and poorly-differentiated products lose market share," opined Lu. "Hence, local pharmaceutical companies should widen their portfolio and expand presence in growing segments through partnerships and acquisitions."

In fact, the market in China has already consolidated its strategic position globally with local mergers, acquisitions and joint ventures, and investments in private infrastructure are expected to go up significantly.

If you are interested in more information on this research, please send an e-mail to Zhenhua Chen, Corporate Communications, at zhenhua.chen@frost.com, with your full name, company name, job title, telephone number, company e-mail address, company website, city, state and country.

Chinese Pharmaceutical Market is part of the Life Sciences Growth Partnership Service program. Frost & Sullivan's related research services include: Asia-Pacific Molecular Diagnostics Market, Indian Diabetes Market, In-vitro Diagnostics (IVD) Market in India, European Hepatitis B and C Therapeutics Markets, European HIV Drugs Market, Global IVD Market, U.S. qPCR Reagents Market, among others. All research services included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.

About Frost & Sullivan

Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants.

Our "Growth Partnership" supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.

  • The Integrated Value Proposition provides support to our clients throughout all phases of their journey to visionary innovation including: research, analysis, strategy, vision, innovation and implementation.
  • The Partnership Infrastructure is entirely unique as it constructs the foundation upon which visionary innovation becomes possible. This includes our 360 degree research, comprehensive industry coverage, career best practices as well as our global footprint of more than 40 offices.

For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organization prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies?

Contact Us:     Start the discussion

Join Us:           Join our community

Subscribe:       Newsletter on "the next big thing"

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Chinese Pharmaceutical Market
P704-52

Contact:
Zhenhua Chen
Corporate Communications – China
P: +86 21 5407 5780
M: +86 1381 6974 015 
E: zhenhua.chen@frost.com

http://www.frost.com

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