China: How to strategise and win in the world's fastest changing healthcare market
In this paper, our experts Marc Yates, Pei Li Teh and Brett Gardiner discuss the China healthcare reforms which affect pharma and propose how to build the market understanding required to launch a brand effectively in this exciting region.
With a population of 1.4 billion people China has always been an attractive prize to the pharmaceutical industry. However, China has historically been a tough market to crack and few multinational companies have seen a good return on their investment. But in 2019, the 70th anniversary of the communist party’s victory, the outlook has changed completely and now pharma is rushing to leverage the many opportunities that China offers.
China: How to keep up and win in the world's fastest changing healthcare market
China's population will start to shrink in 2023 placing greater weight on the working population who have to support increasing numbers of 65+ year olds. The aging population combined with a surge in non-communicable diseases has led to a higher disease burden and more pressure on an already overstretched healthcare system. Seeking to modernise, China has undertaken a range of reforms.