New Healthcare research report from Business Monitor International is now available from Fast Market Research
Boston, MA -- (SBWIRE) -- 01/02/2014 -- Multinational pharmaceutical firms' commitment to the Chinese market is underpinned by the potential of the healthcare sector. The sector itself is supported by consistent government efforts, thereby increasing patients' access to these drugs. We would also highlight risks of operating in China, such as the anti-bribery investigation and volatility caused by tender timings. Headline Expenditure Projections
- Pharmaceuticals: CNY453.2bn (US$71.8bn) in 2012 to CNY532.4bn (US$85.9bn) in 2013; +17.5% in local currency and +19.6% in US dollar terms. Forecast unchanged from Q413.
- Healthcare: CNY2845.6bn (US$451.1bn) in 2012 to CNY3281.6bn (US$527.6bn) in 2013; +15.3% in local currency terms and +17.0% in US dollar terms. Forecast unchanged from Q413.
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Risk/Reward Rating: China's Pharmaceutical Risk/Reward Rating (RRR) score for Q114 is 64.8 out of the maximum 100 under our newly improved RRR system. The country scored above average for the majority of the indicators and sub-indicators including overall market expenditure, sector value growth, patent respect and policy continuity. Consequently China is ranked fourth, behind Japan, South Korea and Australia among the 19 key markets in Asia Pacific.
Key Trends And Developments
- In November 2013, Merck Serono announced that it will to invest EUR80mn (US$108 mn) in a new manufacturing facility to be located in Nantong Economical Technological Development Area, Shanghai. According to the firm, the facility will focus on the bulk production and packaging of Glucophage (metformin), Concor (bisoprolol) and Euthyrox(levothyroxine) - Merck Serono's treatment for diabetes, cardiovascular diseases and thyroid disorders respectively. The construction of the site is scheduled to start in 2014 while commercial production is expected to commence in 2017. Allan Gabor, general manager and managing director of Merck Serono in China stated that this facility 'will become Merck Serono's second largest pharmaceutical manufacturing site in the world.' In addition, the firm stated that the drugs produced in the plant are covered under China's essential drug list.
- In the same month, Wei Yulin, the chairman of Sinopharm Group stated that the firm hopes to buy one hospital by the end of 2013 and several more in 2014, riding on the government's liberalisation of the hospital sector. In October 2013, China State Council released its plan 'Opinions on Promoting and Developing Health Services', further expanding on the country's aim to provide affordable healthcare for the population, involving private players including hospitals and insurance firms
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