China pharmaceutical spending
China pharmaceutical spending. Jan 27, 2022 · The statistic presents the spending on original branded pharmaceutical products in China in selected years from 2008 to 2018, with a forecast up to 2023. biopharmaceutical export volume 2002-2023 Jan 10, 2024 · Total operating revenue of China's pharmaceutical industry 2013-2022. Still, the US ought to The variations in per capita retail pharmaceutical spending across countries can reflect differences in the basket of available medicines, pharmaceutical prices, consumption and the relative role of hospitals in dispensing pharmaceuticals, as well as the market penetration of generics (Figure 5. Dec 20, 2023 · Breakdown of pharmaceutical industry revenue in China 2021, by segment. 0% of the APAC region's total pharmaceutical sales. 2024; High-tech industry R&D spending in China 2022, by sector; Jul 24, 2023 · The United States is still much less reliant on its top four firms than is China to maintain its share of global R&D spending. 6% to 34. Between 1984, when the new law was enacted, and 2016, generic sales reduced the growth rate of real spending by an estimated 2. [192] Yet, by 2021, they accounted for 78 percent. China (People's Republic China Pharma Forecast 2019-2023 China has expanded to be the second largest pharmaceutical market globally with USD 137 billion in total spending in 2018, but growth has slowed from a 19% CAGR in 2008–2013 to an 8% CAGR in 2013–2018 and is expected to continue to decline to 3-6% through 2023, as the below charts show. They can cure diseases, relieve symptoms and prevent complications. -made products. China's healthcare reform and 12th Five-Year Plan (2011–2015) 1. It is projected to reach $332Bn by 2022, with a CAGR of ~7% from 2022-25 and the main driving forces behind this growth - aging population and prevalent chronic diseases, wealthy middle-class with higher healthcare demands, and expansion of insurance coverage - still remain. Aug 21, 2023 · Forbes, Largest Chinese pharmaceutical companies as compiled by the Forbes Global 2000 ranking as of June 2023, by sales value* (in billion U. That figure included government spending, collective spending, and private out-of-pocket spending on health care. However, powerful trends are Dec 3, 2023 · Capita spending new pharmaceutical and medical supply businesses Thailand 2018-2024 Medical technology in China Coronavirus COVID-19 in China Social insurance in China Pharmaceutical industry The statistic presents the spending on pharmaceutical products in China in 2018, by type of branding. There are 4,500 pharmaceutical manufacturers in China, led by a small number of big In 2019, spending on retail pharmaceuticals (that is, excluding those used during hospital treatment) accounted for one‑sixth of overall health care expenditure in OECD countries. 35 billion yuan on research and development, while Shanghai Fosun Pharmaceutical Group, one of its main May 29, 2019 · China’s biopharma market continues to grow at a healthy pace. 1 Building China’s pharmaceutical innovation ecosystem–part one of the series research reports: 2015-2020 development review and future prospects Jul 25, 2024 · Total global spending on pharmaceutical research and development from 2014 to 2028 (in billion U. The primary focus of this paper is to review the relevant literature on pharmaceutical spending and pharmaceutical policy, as well as the data available to inform the choice and design of key policy measures that can help increase the efficiency of pharmaceutical spending to enhance value for money and contain costs. Jan 27, 2022 · The statistic presents the spending on unbranded pharmaceutical products in China in selected years from 2008 to 2018, with a forecast up to 2023. The pharmaceutical market in China remains strategically important with its predicted growth and market size. 42 trillion in 2021. Methods: An interrupted time series design with comparison series was used to examine impacts of the policy changes on average daily cost, monthly hospital purchase volume and spending of the 11 price-regulated Aug 9, 2022 · As anticipated, increased generic penetration has had an impact on pharmaceutical spending per capita in the United States. Mar 27, 2023 · In China, pharmaceutical expenditure is expected to reach between 190 and 220 billion U. In that year, the spending on non-original branded pharmaceutical products amounted to around Aug 14, 2023 · In 2022, China's leading innovative drug company Jiangsu Hengrui Pharmaceuticals spent 6. The APAC region is expected to see a significant surge in growth, with a projected growth rate of 9. Governments are implementing price controls to manage costs, raising concerns about reduced R&D investment in the pharmaceutical sector. Pharmaceutical expenditure continues to outpace real GDP growth in most of these countries. As the global healthcare system re-equilibrates post-pandemic, the biopharmaceutical industry has resumed pre-COVID-19 levels of investment, pipeline activity, and launch of novel medicines following record breaking levels of each in 2020 and 2021. Further recommended statistics Company positioning 6 R&D spending of selected pharmaceutical firms in China 2022. China's pharmaceutical market: summary and prospects 1. The US has been a significant player as the industry has grown dramatically, fueled by the aging population and the COVID-19 pandemic. Higher growth across all three variables would result in a pharmaceutical market 21 percent larger than estimated ($192 billion in 2015 and $317 billion by 2020). Yet, China is minimizing its reliance on its top four firms. The US Inflation Reduction Act (IRA) allows Medicare to negotiate drug prices, potentially impacting innovation worldwide. Basic Statistic Sanofi's total assets 2007-2023 Premium Statistic Merck & Co - expenditure on research and development 2006-2023 Nov 21, 2023 · Since joining the World Trade Organization in 2001, China’s pharmaceutical industry has experienced remarkable growth. Feb 7, 2023 · According to Statista, the global pharmaceutical industry had an annual revenue of $1. The U. Apr 25, 2024 · Europe falling behind US and China in pharma innovation, warns AstraZeneca chief According to a European Commission analysis of the world’s 2,500 highest spending companies in research and Compared to other big economies, the pharmaceutical spend per capita in China has been far lower. dollars and Pharmaceutical expenditure covers spending on prescription medicines and self-medication (often referred to as OTC products). In dollar terms Methods: A two-way fixed-effect model was established to estimate the relationship between the proportion of pharmaceutical spending and total medical expenditure using the balanced panel data for thirty provincial-level administrative regions in mainland China from 2010 to 2019. Results: Both countries will see rising total pharmaceutical spending and will be the two largest country markets for prescription drugs through at least 2020. With EUR 615 per capita, Germany spent by far Jul 14, 2014 · For the China macroeconomic model, we varied GDP growth rates, healthcare spending, and pharmaceutical sales as a percentage of health spending by 10 percent each. 5% if the pandemic had not taken place. Market growth has remained in mid-single figures over recent years, with total value reaching some $130 billion 1 IMS Market Prognosis 2017-2021: China, QuintilesIMS, March 2017. To find out how the generic competition affects drug price in this area, this study examines how the quantity of generic drug manufacturers can influence average drug Jan 15, 2020 · Global pharmaceutical R&D spending compared to the U. pharmaceutical spending from 2017 to 2019 (in billion U. 6 trillion (approx. May 25, 2023 · Introduction: Generic substitution is encouraged to reduce pharmaceutical spending in China, and with incentive policies, the market size of the generic drug continues to rise. May 22, 2024 · Total global pharmaceutical R&D spending 2014-2028; Global top pharmaceutical companies based on R&D spending 2026; Patent expiration risks for total worldwide prescription drug revenue 2023-2028 The Quality of drugs and Active Pharmaceutical Ingredients (API) made by Chinese pharmaceutical companies is often poor. From 2010 to 2017, pharmaceutical expenses as a proportion of health expenditure in China declined from 41. Jan 16, 2024 · China, the world’s second largest country by pharmaceutical spending, will increase volume by 20% in aggregate over five years, while spending will increase 21%, a more modest rate than in the prior years and still embedding a focus on expanding access to novel drugs via the national reimbursement drug list (NRDL). Pharmaceutical spending is the expenditure on prescription medicines and self-medication, often referred to as over-the-counter products. 4% (National Health Commission, 2019). May 20, 2020 · Moreover, U. In this paper, we provide an in-depth analysis of China's National Volume-Based Procurement (NVBP) policy, which represents a unique approach to pooled procurement within the pharmaceutical sector. Apr 21, 2021 · A two-way fixed-effect model was established to estimate the relationship between the proportion of pharmaceutical spending and total medical expenditure using the balanced panel data for thirty provincial-level administrative regions in mainland China from 2010 to 2019. China is the second-largest market with a market Nov 14, 2023 · In 2022, the total expenditure on health care in China reached over 8. In 2019, the pharmaceutical spend in the United States had averaged out to 1,229 U. 4 billion U. Feb 10, 2024 · The economic impact of pharmaceutical spending is profound, as evidenced by the remarkable growth of the pharmaceutical industry in countries like China and India, where GDP growth exceeds 6%. US$1. Nov 26, 2011 · From 2000 to 2009 spending on drugs grew at a slightly slower pace than total outlays on health. Dec 9, 2021 · While the short-term impact from COVID-19 in 2020 and 2021 has been significant, the long-term impact on growth trends is more muted. Dec 23, 2021 · Published Dec. The market is complex, and has become more so as the crisis has played out. S. It represented the third largest component of health spending after For the China macroeconomic model, we varied GDP growth rates, healthcare spending, and pharmaceutical sales as a percentage of health spending by 10 percent each. Apr 28, 2021 · This report examines trends in medicine spending along with factors influencing growth, including patent expiries, launches of new medicines, and changes in demand and use, particularly in pharmerging and lower income countries. 9% in 2024, a substantial increase from 2. 1 Healthcare reform overview In March 2009, China's government revealed plans for a sweeping healthcare overhaul, and committed RMB850 billion to develop the country's healthcare system between 2009 and 2011. Since 2019, the Chinese central government has taken significant steps to centralize national purchasing power and has implemented a pooled procurement system. dollars) Premium Statistic U. 17 billion on promoting life and medical sciences in 2012—nearly ten times its 2004 level of investment. 6%, compared to 4. Aug 13, 2020 · China's combined pharmaceutical and biopharma R&D spending is forecasted to grow at a compound annual rate of 23% until 2023 to reach $49b, according to South China Morning Post’s latest healthcare report. Biopharmas originating in China will likely have greater influence on the industry by 2028, but regulatory developments and the quality of partnerships will determine how the industry grows. This dovetails with Beijing’s The United States was the largest national pharmaceutical market in 2022, making up over 42 percent of the total pharmaceutical spending worldwide. Jan 29, 2019 · Pharmaceutical spending in China reached $137 billion in 2018 and is expected to reach $140−170 billion by 2023, but its growth is likely to slow to 3−6%. 8% of North America's total expenditures, while China is expected to comprise 54. New products and losses of exclusivity will continue to drive similar dynamics across developed markets, while product mix will continue to shift to specialty and orphan products. 1 percent in 2015. Medicines and medical technologies can greatly improve both quality of life and life expectancy. Jul 14, 2014 · Simple quantitative models were developed to estimate future drug spending based on insurance coverage, treatment locations, and health spending as a percentage of GDP. In the past three years 2015–2017, there were 35 FDA warning letters to Chinese pharmaceutical companies citing serious Data Integrity issues, including data deletion or manipulation or fabrication of test results, see "An Analysis of 2017 FDA Warning Letters on Data Jan 16, 2024 · China, the world’s second largest country by pharmaceutical spending, will increase volume by 20% in aggregate over five years, while spending will increase 21%, a more modest rate than in the prior years and still embedding a focus on expanding access to novel drugs via the national reimbursement drug list (NRDL). The average American shelled out $947 for drugs in 2009. [Online]. Jan 27, 2022 · By the end of 2019, the pharmaceutical R&D spending in China was around 150 billion U. 26% annually [ 13 ]. The driving factors include new and complex medical needs, rapid market expansion and regulatory Oct 29, 2021 · A rapid proliferation of new drug discoveries with the potential to address unmet needs in the domestic market and beyond has helped China increase its share of the global innovation pipeline to 13. “There has been an increase in both deals where Chinese companies Oct 14, 2021 · In China, rising pharmaceutical expenditure has attracted a great deal of policy attention over the past decade. 23, 2021 | China’s pharmaceutical sector, long known for generic drugs and raw materials, is rapidly emerging as a force in innovative medicines. Aug 9, 2023 · Research and development in European pharmaceutical industry by country 2022; Share of clinical drug trials started in Europe 2012-2022, by region Apr 24, 2020 · China is the world’s second largest pharmaceutical market and a strategic priority for most global players. Dec 20, 2023 · Sales channels 7 Premium Statistic End market sales volume of pharmaceutical industry in China 2012-2022 Premium Statistic Drug sales revenue distribution in China 2022, by sales channel Mar 31, 2015 · China is currently the world’s second-highest investor in R&D and is poised to overtake the United States in R&D spending by 2023. and China from 2014 to 2023 (in billion U. Total operating revenue of China's Feb 15, 2023 · Report Summary. Find the latest statistics and Mar 31, 2015 · Determined to become a world leader in the pharmaceutical sector, China spent $1. statista. Largest Chinese pharmaceutical companies 2023, by sales value. Jul 14, 2014 · For the China macroeconomic model, we varied GDP growth rates, healthcare spending, and pharmaceutical sales as a percentage of health spending by 10 percent each. Jun 12, 2023 · Signs that China’s healthcare market will continue to grow Growing healthcare expenditure. 15). production of pharmaceutical goods is often understated: 70 percent of essential medical equipment is manufactured in the United States, and 70 percent of total antibiotic spending and 50 percent of total vaccine spending is on U. Some countries cannot report a breakdown, and their data may include medical non-durables (such as first aid kits and hypodermic syringes); this typically leads to an overestimation by 5-10%. Expectations for economic growth and healthcare spending have been revised downward and companies have struggled to deliver normal levels of patient impact. dollars) Statista, https://www. Including estimates of higher spending growth from COVID-19 vaccines and lower spending from existing treatments due to disruptions from the pandemic, the five-year CAGR to 2025 is expected to be 4. com Aug 14, 2023 · In 2022, China's leading innovative drug company Jiangsu Hengrui Pharmaceuticals spent 6. Jul 21, 2021 · The 2017 medication price negotiation and reimbursement policy decreased targeted medication procurement costs per DDD, increased volumes procured and at least temporarily contained spending. May 31, 2024 · Global pharma spending is rising, with a shift towards expensive specialty drugs. in 2018, making China second only to the United States in world rankings. The primary objectives of the NVBP May 9, 2022 · Profit margins at China’s pharma companies are shrinking under the pressures of high expenditure on R&D and procurement, fierce competition, and dropping prices. Channel distribution of U. is the global leader in life sciences research, including pharma R&D. . Nov 27, 2023 · By 2024, US pharmaceutical sales are projected to account for 92. Determined to become a world leader in the pharmaceutical May 22, 2024 · Pharmaceutical R&D spending totaled some 238 billion U. Oct 27, 2022 · Over the past decade, China’s pharmaceutical industry has made drug innovation a top priority. However, despite the increase and the tone of recent rhetoric around the US-China pharmaceutical trade, China does not have a stranglehold on the US medicine supply chain. Jan 16, 2024 · China, the world’s second largest country by pharmaceutical spending, will increase volume by 20% in aggregate over five years, while spending will increase 21%, a more modest rate than in the prior years and still embedding a focus on expanding access to novel drugs via the national reimbursement drug list (NRDL). 5 trillion yuan. However, increasing prices of new pharmaceuticals raise questions about the sustainability of current pricing models. dollars) Premium Statistic Top global pharmaceutical companies based on pharma revenue 2022 Feb 1, 2022 · This study aimed to analyze the impact of pharmaceutical price regulation on the price, volume and spending of antibiotics in China. [193] Jul 1, 2008 · Pharmaceuticals account for about half of total health spending in China, representing 43 percent of spending per inpatient episode and 51 percent of spending per outpatient visit. These changes should result in better access to and affordability of targeted anticancer medications in Chin … Mar 8, 2021 · Pharmaceutical spending in China totalled $137bn in 2018 and will reach $140bn-$170bn by 2023, according to data provider IQVIA. Total operating revenue of China's Aug 24, 2023 · China has launched a sweeping anti-corruption campaign targeting its hospitals, pharmaceutical industry and insurance funds as it grapples with mounting economic challenges and long-standing Aug 21, 2023 · According to the annual ranking of Forbes Global 2000 which measures the world's largest public companies, Sinopharm Group ranked first among Chinese pharmaceutical companies in terms of total Jan 16, 2024 · China, the world’s second largest country by pharmaceutical spending, will increase volume by 20% in aggregate over five years, while spending will increase 21%, a more modest rate than in the prior years and still embedding a focus on expanding access to novel drugs via the national reimbursement drug list (NRDL). 35 billion yuan on research and development, while Shanghai Fosun Pharmaceutical Group, one of its main Oct 27, 2021 · By the end of 2019, China’s pharmaceutical R&D spending was estimated to be around USD 150 billion. In 2013, the top four Chinese firms made up 90 percent of the domestic sector’s R&D spending. 9 percent in 2020 from 4. Industry & Market. 1 Although those spending totals do not include spending by many smaller drug companies that Total global pharmaceutical R&D spending 2014-2028; Distribution of pharmaceutical R&D companies by region 2023 vs. This picture masks substantial variation. Mar 8, 2021 · Pharmaceutical spending in China totalled $137bn in 2018 and will reach $140bn-$170bn by 2023, according to data provider IQVIA. , and China between 2009 and 2023 Premium Statistic Number of drugs in the R&D pipeline worldwide 2001-2024 Apr 20, 2023 · The emergence of this important, new supply chain linking both economies has implications for economic interdependence and national security. Jan 18, 2023 · China as the world’s second largest country by pharmaceutical spending, will increase volume by 8% in aggregate over five years, while spending will increase 19%, a more modest rate than in the prior years and still embedding a focus on expanding access to novel drugs via the National Reimbursement Drug List (NRDL). dollars in 2022. China’s healthcare spending has grown significantly over the last two decades across all sources. Jan 10, 2024 · Annual growth of pharmaceutical R&D spending in Europe, the U. 4% in In real terms, private investment in drug R&D among member firms of the Pharmaceutical Research and Manufacturers of America (PhRMA), an industry trade association, was about $83 billion in 2019, up from about $5 billion in 1980 and $38 billion in 2000. 2 trillion), more than doubling from 2015. In 2021, total expenditure reached RMB 7. Among its Jan 27, 2022 · In China, pharmaceutical companies spent a total of 17. By then, China’s pharmaceutical and biopharma R&D spending will account for 23% of the world's total spending on drug discovery and testing. In 2021, it accounted for 12% of the global pharmaceutical market, second only to the United States, which accounted for a substantial 40% of the world’s total revenue. China still has some distance to travel for its pharma industry to become globally competitive. dollars) [Graph], Frost & Sullivan, & HKExnews, March 8, 2019. Dec 17, 2021 · China has become the second largest pharmaceutical market while Japan holds a strong second position as the global hub for medical devices development and innovation. It is estimated that the Chinese pharmaceutical industry’s total R&D spending will reach USD 342 billion by 2023, growing faster than the global average. Aug 7, 2023 · End market sales volume of pharmaceutical industry in China 2012-2022; Drug sales revenue distribution in China 2022, by sales channel; Sales revenue of medicaments via public hospitals in China Mar 8, 2024 · Emerging biopharma companies — defined as companies with less than US$200 million in R&D spending and less than $500 million per year in annual revenue — sponsored over 60% of clinical trials . cdezt hljvo ivug tzvgjau ktvzkg xksss njphgon onrmg nqotf gdjun