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  • Posted by Marc Yates
  • September 20, 2010
  • Articles

The Rise of the Retail Pharmacy in China

The Rise of the Retail Pharmacy in China

Published in PBIRG Fall Newsletter 2010 By Marc Yates, Director

With the traditional US and European markets plateauing, the pharmaceutical industry is increasingly looking to emerging markets to provide sustained, predictable growth. China is of specific interest, due both to its size and rapidly changing socio-economic environment. In particular the rise of the retail pharmacy in China is presenting many opportunities, making it a hot topic for both marketers and market researchers alike. So why all the interest in China? Four prevailing factors are contributing to the changing landscape of the pharmaceutical market in China, thus making it the region to watch: Urbanisation Ageing population Lack of primary care Lack of private health insurance   The urban population One of the challenges of the China pharma market is setting realistic expectations. It is a mistake to think of 1.3 billion consumers, when in fact the majority of people live outside the cities and the rural population simplycannot afford premium priced western medication. Therefore when considering China one must focus on a subset of the urban population i.e. the growing middle class. The total urban population is predicted to exceed the rural population by the year 2020 and currently an estimated 43% of mainland Chinese live in cities. This makes for…

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