Chinese Pharma Growth Stabilizes amid Deepening Healthcare and Drug Regulatory Reform.
Beijing, China, September 09, 2019 --(PR.com)-- WiCON International Group LLC, the publisher of well-known WiCON | Pharma China (www.pharmachinaonline.com), announced that it has officially published its China Pharmaceutical Guide 2019 (14th Edition).
According to the publication, quoting latest projections from SMEI, the combined drug sales of three major Chinese terminal markets to rise 6.3% and 5.8% respectively in 2018 and the first half of 2019, reaching a total of CNY 1,713.1 billion and CNY 908.7 billion at retail price level. Adding private hospitals, clinics and village clinics which are not covered, SMEI estimates the entire Chinese pharmaceutical market to be around CNY 2 trillion in 2018.
On the other hand, IQVIA Market Prognosis 2019-2023 lowered its growth forecast of Chinese pharma market to CAGR of 4.8% (±2.5%) between 2018 and 2023, with an overall market size of CNY 1118.9 billion at hospital purchase price level by 2023.
Despite the overall pharmaceutical market picture had been rather grim, 2018 and early 2019 was in fact worth remembering by at least some MNC pharma companies which regained high business growth for several quarters. Amid a market vacuum before local generic quality and clinical equivalent (GQCE) products arrive in droves, MNCs managed to beat their local counterparts for now. But the value of medical and health products China imported decreased for the first time in "many years" to about $50.43 billion in 2018, down by 9.75% year-on-year due to lower average price.
By early 2019, the planned structural reform of China healthcare has now been expanded to all corners of the country. This round of “top level” design or reform blueprint is completed but it will take years before the medical system can digest its tasks and goals. The biggest move last year made by the Chinese government to deepen healthcare reform was a major cabinet reshuffle in March aimed at streamlining regulatory jurisdictions and processes. It has far reaching impacts on the country’s healthcare and pharmaceutical regulation and is a game changer especially for healthcare cost containment area.
Amid a slowing Chinese economy, the government is dashing to close all loose-ends of healthcare spending, especially with drug expenditures, to prepare for the rainy days. The goal is to ensure widest healthcare coverage of the Chinese people with limited resources, which are unlikely to grow much in the foreseeable future. But this will be achieved at all costs, including likely compromises with healthcare quality, industry development and market environment, in order to protect social stability in time of slowing economy.
The latest NHSA-led national level volume-linked centralized drug purchase tender trial focused heavily on price competition which will not only pushed out most MNCs and their off-patent originator drugs, but also crash the hopes of many domestic manufacturers of GQCE products for better margins to recoup their related investments.
The pharmaceutical industry will be challenged during this unsettling period and it will be squeezed by both medical providers and the government. As drug regulatory standards go up following reform, the industry will be confronted by the growing pain to supply high quality products at low prices and secure the bottom-line at the same time. For sure, the outlook is completely gloomy either. There remain numerous brighter spots and areas of opportunity which offer substantial market potential.
The China Pharmaceutical Guide 2019, an indispensable annual reference for MNC pharma executives with China responsibilities for more than a decade, provides various data sets on the Chinese pharmaceutical market and drug consumption patterns from respected sources including QuintilesIMS, SMEI, CPIIC, CPA, Sinohealth, Nicholas Hall and other official sources. The publication, from the publisher of WiCON | Pharma China and covers all aspects of Chinese pharma/healthcare sector, aims to help HQ and local executives at proactive MNCs feel the dynamic and up-to-date pulse of Chinese healthcare in order to stay in the driver seat of their business in the country.
Now in its 14th edition, China Pharmaceutical Guide 2019 continues to play an instrumental role in helping executives understand, navigate, manage and lead their pharmaceutical businesses in China.
- Authored by James J. Shen, a veteran pharmaceutical executive and the Publisher/Chief Editor of Pharma China who has three decades of managing China and Asian pharma businesses as a leading China business consultant, multinational company executive and an entrepreneur.
- Prepared for the real world executives to help them navigate through the complex and turbulent Chinese healthcare business environment for success.
- Comprehensive and latest data on the Chinese pharmaceutical industry and market, the Chinese healthcare sector, drug evaluation and registration, and disease & drug consumption patterns – much of the data made available exclusively by reputable sources to China Pharmaceutical Guide and Pharma China.
The China Pharmaceutical Guide 2019 (14th Edition) is presented in four comprehensive volumes:
- Volume I – Overview of the Chinese Pharmaceutical & Healthcare Sectors (up-to-date coverage of China’s business environment, history and structure of the Chinese pharmaceutical industry, Chinese health sector structure and statistics, health insurance sector structure and data, as well as disease and drug consumption patterns);
- Volume II – Chinese Pharmaceutical IP and Regulatory Guide (a complete and clear picture of the Chinese drug regulatory and IP framework is presented with thorough summaries covering all regulations in drug/biologic registration, drug pricing, research/GLP, clinical research/GCP, import and export, manufacture/GMP, packaging, distribution/GSP, OTC/ethical drug classification, drug advertising, adverse drug reaction monitoring, internet drug sales/e-commerce, physician drug prescription codes, contract manufacturing, international regulatory harmonization, compulsory licensing/technology transfer, patent and trademark application, enforcement, litigation and strategies, data exclusivity, counterfeit drugs and drug safety liabilities. Summaries of regulations are provided with needed analysis. In addition, a thorough introduction of all drug related government agencies and industry associations is given with their functions analyzed.
- Volume III – Annual Review, Trends, Opportunities and Strategic Considerations (including a complete review of latest data, business trends, regulatory & IP/legal developments and healthcare reform progress of the Chinese pharmaceutical industry and market in 2018/1H2019, and a large collection of feature articles from industry experts relating to contemporary trends, issues and strategic considerations as well as promising opportunities of the present and future); and
- Volume IV – Sales & Marketing, Entry Strategies and Case Studies (covering orientation, models and strategies of pharmaceutical sales, marketing and distribution in China, marketing entry strategies and execution, case studies featuring success stories of MNCs and domestic players, R&D and outsourcing, human resource management and legal/IP issues), as well as appendices with full texts of important healthcare/pharmaceutical related policies, laws and regulations.
The China Pharmaceutical Guide 2019 (14th Edition) has been thoroughly updated with ample latest data from many reputable sources, abundant analysis by leading industry experts, new regulations and more case studies. Its coverage was renewed and expanded in the following areas:
- Hundreds of pages of new data, information, analysis and case studies.
- Thorough summaries and analysis of the latest healthcare reform, drug pricing & reimbursement and hospital tender purchase policies, as well as coverage of the most recent government reorganization relating to healthcare and drug regulation.
- Comprehensive industry, market and international trade data as well as health statistics are updated with the 2018 (full year) and available data for the first half of 2019.
- Expanded coverage on IP, patent and anti-monopoly-related laws and regulations, e-commerce and digital marketing opportunities, the primary healthcare sector, the OTC and consumer healthcare sector, high-growth market segments, key regional hospital markets, and the pharmaceutical distribution sector.
- Updated coverage of the Chinese biosimilars/biologics market prospects and regulatory outlook.
- Updated coverage of emerging legal issues (including latest Chinese government crackdown on corruption in healthcare, FCPA/compliance and liability issues) and drug-related IP and trademark concerns.
- Comprehensive top line data, research findings and observations from our collaborative partners such as IMS Health, Kantar Health, Nicholas Hall, ZS Associates, Rubicon Strategy Group and RDPAC, as well as other reputable sources including the Chinese Pharmaceutical Association, SMEI, CPIIC and Sinohealth.
- All regulatory changes in 2018/1H2019 are updated to present a clear and most up-to-date picture of the Chinese drug regulatory framework with summaries and analysis of all pharmaceutical related regulations in effect by mid-2018.
- Focused coverage of China’s ongoing efforts to revamp its drug regulatory regime through amendments of the Drug Administration Law, the proposed Vaccine Management Law, the transformation of drug pricing mechanism, deepening reform of the drug registration and evaluation regime, new policies to support drug innovation, biosimilars and high clinical value generics, and the initiative to re-evaluate all generic drugs with bioequivalence studies.
- Extensive review and analysis of China’s drug registration applications and approvals as well as Chinese drug innovation trends in recent years.
- Comprehensive review of Sino-foreign M&A, joint venture, strategic alliance, licensing, research partnerships, co-marketing, and new drug research events in 2018 and H12019.
- Expanded coverage on MNC performance and strategic considerations in China with healthcare reform in the backdrop, intellectual property/patent law amendments, data exclusivity, patent litigation, drug regulations, pharma marketing and distribution strategies, drug consumption patterns, the Chinese R&D and outsourcing sector, clinical studies/practices, healthcare reform, community healthcare sector, essential drug policy, regional drug consumption patterns, and the vaccine and API sectors.
- In addition to the existing five key case study areas, two more areas on pharma’s alliance with health insurance companies and with e-commerce/digital health providers are added. Numerous new case studies are added, as existing cases are updated and filtered.
All purchasers of the China Pharmaceutical Guide 2019 (14th Edition) will receive one-year complimentary subscription of Pharma China Weekly e-Alert (Premium Edition) which provides a weekly summary of the top Chinese pharmaceutical news and Breaking News Alerts which notifies subscribers of any major unfolding events in the Chinese pharmaceutical and healthcare sectors.
For further information, please contact WiCON International Group to request a free promotional PDF containing the executive summary, the table of contents, the lists of tables and charts, and preface. To download their promotional PDF and a brochure/order form, please visit: http://www.pharmachinaonline.com/download/index.asp.
WiCON International Group LLC
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WiCON International Group is the publisher of WiCON | Pharma China, the most trusted English media and source of business intelligence covering the Chinese pharmaceutical / biopharmaceutical sector.
WiCON | Pharma China (www.pharmachinaonline.com) caters for the growing needs of the global pharma industry for up-to-date and insightful intelligence on China’s burgeoning but increasingly complex healthcare marketplace. It is subscribed by most MNCs, leading CROs, investment banks, consulting firms and industry associations.
WiCON | Pharma China publishes the following products:
Pharma China Journal Edition (monthly in PDF)
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China Pharmaceutical Guide (latest edition – published annually in September)