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Home > Healthcare > Pharmaceutical > General Pharmaceutical
China Pharmaceuticals and Healthcare Report Q4 2008
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China’s US$33.9bn pharmaceutical market is an attractive proposition to multinational companies.
Growth of the sector is consistently in the double digits. Branded medicines are perceived as being of
higher quality, while far-reaching reforms to the healthcare system will benefit manufacturers of generic
drugs as well as insurance companies. However, risks exist. The intellectual property regime is well
below international standards. Due to the size and terrain of the country, distribution costs are high.
Finally, we expect the state to become more cost conscious and implement price cuts. BMI is forecasting
compound annual growth rate (CAGR) of 20.26% through to 2012.
The much anticipated draft version of the Healthy China 2020 programme was published on the website
of the National Development and Reform Commission (NDRC) in October 2008. The 13,500 word
document calls for universal insurance, a change to the way hospitals are funded, more subsidies for staterun
healthcare facilities and the establishment of a national essential drugs list.
China is on the cusp of a breast cancer epidemic according to a September 2008 study. By 2021, the
number of women in the world’s most populous country with the disease is expected to increase by nearly
50%. However, this forecast is far below previous estimates that used less sophisticated models.
Moreover, BMI’s Burden of Disease Database (BoDD) reveals that the impact of breast cancer on
disability and death will level out and eventually decrease by 2030.
China’s US$1.2bn pharmaceutical equipment sector has expanded and matured significantly over the past
ten years. It supplies over 90% of the domestic market and exports to both developed and emerging
markets. However, BMI believes that consolidation of the local pharmaceutical industry, increased
competition from abroad and the shadow hanging over the ‘Made in China’ brand will constrain growth
and evolution of the sector.
As in most other markets, US-based Pfizer’s Lipitor (atorvastatin) is the best selling drug in China for the
treatment hypercholesterolaemia. Based on an industry audit, BMI estimates that the medicine generated
2007 sales of CNY2.16bn (US$315mn), which was nearly a 70% increase on the previous year. What
makes these figures even more spectacular is that Lipitor competed against a locally made atorvastatin,
Beijing Jialin Pharmaceutical’s A Le. This finding should reassure foreign multinationals operating in
China, which rely on branding to maintain market share in the face of cheaper generic drugs.
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