Princeton, NJ, November 10, 2017 --(PR.com
)-- The Chinese drug market growth is expected to fall further to 7.6% valued at CNY 1,611.8 billion (at retail price level) in 2017 as a result of tender price pressure, eliminated hospital drug sales margin and stringent government cost containment measures, according to WiCON|Pharma China (www.pharmachinaonline.com) quoting Jianning Lin, President of the Southern Medicine Economic Institute (SMEI) under the CFDA who delivered a keynote presentation, Medicine Economic Outlook in 2018 and the Next Five Years, at the at the 29th National Medicine Economic Information Release Conference.
The sales of the Chinese pharmaceutical industry were up 12.3% to CNY 2,347.5 billion in the first nine months of 2017, official data quoted by WiCON|Pharma China (www.pharmachinaonline.com) shows. The same full year 2017 figure is expected to be 13.0% and CNY 3,329.3 billion. The output value growth rate also set a record high in 2011 at 26.1% and began to fall thereafter. But it started to rebound somewhat from 2016.
Lin believes that expected Chinese macro-economic policies in 2018 will be advantageous for the pharmaceutical industry with possibly higher government healthcare investments. However, he has concerns over the country’s monetary policies and offline economy.
As the government’s healthcare policies including the two-invoice measure get implemented, Lin predicts changes to the business model of pharmaceutical industry in China, more consolidation of the Chinese pharmaceutical distribution sector, faster growth of the pharmaceutical manufacturing sector and falling growth of distributor sales.
WiCON|Pharma China (www.pharmachinaonline.com) reported forecasts by SMEI of 7% growth for the Chinese hospital drug market in 2017 with a value of CNY 1,975.5 billion. SMEI predicts continued falling growth of retail pharmacy and primary healthcare facility drug sales. The drug sales of retail pharmacy and primary healthcare facility sectors is projected to grow 8% and 11.6% respectively to CNY 364.7 billion and CNY 151.7 billion in 2017.
SMEI also anticipates more stringent cost containment by the government in 2018 in aspects including global budget control, structural drug rationalization, BMI payment price reform, capping of drug sales share in healthcare expenditures, and control of supplementary and large consumption volume drugs.
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