The Chinese Pharmaceutical Market: Size, R&D, Regulations, Market Access and Innovations
As China has become the world's second-largest economy and the largest developing country, its economy and market have assumed a prominent position in the Asia-Pacific region. The pharmaceutical industry is an important part of China's national economy, with continuous strong demand, need, and capability for innovation. The industry continues to experience high levels of growth. With China's increasing emphasis on the pharmaceutical industry, and the gradual improvement of healthcare policies, momentum supporting the development of China’s pharmaceutical market continues to accelerate. As the sector’s market structure continues to become more optimized, the Chinese pharmaceutical market as a whole has shown a stable and positive pattern, and its current advantages and future potential are also attracting increasing numbers of overseas companies to do business in China.
This article will analyze the Chinese pharmaceutical market from four aspects: a market overview, the regulatory and reimbursement environment, foreign pharmaceutical companies’ strategies in China, and the current state of innovation adoption.