Total Value of Drugs on Chinese Healthcare Market Will be Likely to be More than US$251.5 Billion by 2015

Date: 2015-09-29

China is one of the fastest growing global economies with one fifth population in the world, and is one of the largest healthcare markets around the world. Along with sustained economic and population growth as well as an ageing population, Chinese healthcare market has maintained annually average growth rate above 16 % since 1990s. By 2014, total value of drugs on Chinese healthcare market has reached RMB 1332.6 billion (about US$214.9 billion). On the Chinese healthcare market, imported drugs made by overseas and multinational pharmaceutical manufacturers account for about a fourth. It is estimated that total value of drugs on Chinese healthcare market will be likely to be more than RMB 1559 billion (about US$251.5 billion) by 2015, and will surpass Japan to become the second largest drug market following the United States. It鈥檚 definitely a field worth playing on. The Chinese drug market is attracting more and more overseas and multinational pharmaceutical manufacturers and producers to penetrate such market.
 
China鈥檚 healthcare market is indispensable for overseas and multinational pharmaceutical companies, but Chinese regulations on pharmaceutical clinical trials are undergoing sharp changes. This is first time in history, Chinese pharmaceutical authorities officially issued a guidance on international multi-center clinical trials of drugs in China, which has begun to be implemented on March 1, 2015. To enter into Chinese lucrative drug market, the overseas and multinational pharmaceutical manufacturers must be compliance with this latest regulations. How do respond such challenges?  The overseas and multinational pharmaceutical manufacturers and their senior executive officers engaging in regulatory affairs must have a comprehensive and thorough knowledge of the Guidance on Chinese international multi-center clinical trials of drugs, and must be compliance with the latest regulations.

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