China’s Healthcare and Life Sciences sector is among the largest and the most dynamic industries. With an increasing focus on health and well-being, China’s healthcare industry is at the forefront of innovation and expansion.
In this article, ALTIOS’ experts give key insights on the Healthcare and Life Sciences sector in China, and some recommandations to access this market.
China’s pharmaceutical and life sciences industry has seen rapid growth in recent years, with pharmaceutical industry sales revenue growing an average of 21.4% annually. New healthcare reform policies gradually implemented by the Chinese government have been accelerating access to drugs in the retail market, away from the traditional in-hospital access.
An accelerating shift in China’s R&D landscape is already leading to increased R&D capabilities of local players, more competition for innovative programs and larger uncertainties for the regulation of clinical studies of overseas compounds. They are collectively challenging MNC pharmas’ traditional, global-centric R&D models and creating a strong impetus for change. China’s evolving landscape provides an array of alternative collaboration models for MNC pharmas to leverage new and emerging local capabilities.
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