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Home > Healthcare > Pharmaceutical > General Pharmaceutical
China Pharmaceuticals and Healthcare Report Q4 2009
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In BMI’s view, China is arguably the most attractive emerging pharmaceutical market. Though to 2013,we are forecasting a compound annual growth rate (CAGR) of 15.45%. Annual per-capita spending willrise from US$27.60 to US$54.40. Spending as a percent of GDP is expected to increase from 0.97% to1.16%. Key drivers of market expansion are the introduction of universal health insurance, a boomingeconomy, more chronic diseases, and an ageing population. By 2018, annual pharmaceutical sales willhave reached a staggering US$132.7bn.
China’s biopharmaceutical R&D sector is emerging rapidly. This was demonstrated in September 2009when the State Food and Drug Administration (SFDA) approved the world’s first swine flu vaccine,Sinovac Biotech’s Panflu. As is the norm with newly-introduced pandemic preventatives, the firstbatches will be sold to government, which will then distribute them to priority groups. These couldinclude front-line healthcare workers, heads of the military and senior Communist party members.
In the global context, perhaps the most promising untapped pharmaceutical sector is China’s ruralprovinces and low-tier conurbations. Drugmakers operating in the world’s most populous country havetraditionally focused their efforts on the relatively affluent east coast cities, such as Beijing and Shanghai.
However, with the advent of far-reaching healthcare reforms and the introduction of universal healthinsurance, enlightened pharmaceutical firms are looking west for massive sales and profit opportunities.
For the Q409 update of this report, China has maintained its position in BMI’s Pharmaceutical BusinessEnvironment Ratings. The country is the fourth most attractive market in Asia Pacific, ahead of Malaysiaand behind South Korea. China’s score of 57.4 is above both the regional (52.2) and global average(51.2). High scores are recorded for Pharmaceutical Market, Country Risks and Market Risks; however,the country is let down by Country Structure, which comprises, among other factors, bureaucracy and apoor legal framework.
AstraZeneca is the leading multinational in China in terms of Q109 revenue. The Anglo-Swedish firmrecorded sales of CNY1.08bn (US$158mn), which was a highly impressive quarter-on-quarter (q-o-q)hike of 30.7%. Worryingly for its competitors, no other company ranked in the top ten posted highergrowth. AstraZeneca’s leading product was the proton pump inhibitor Losec (omeprazole).
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