10 Ways in which Current Macro Upheavals in China will Impact Global Life Sciences Industry

10 Ways in which Current Macro Upheavals in China will Impact Global Life Sciences Industry


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The globalization of China's life science sector analyzes the Chinese government's backing for the healthcare industry and its effects on global political and economic ties as well as on worldwide scientific innovation.

CATEGORY: Pharmaceuticals GEOGRAPHY: China

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10 macro upheavals in china impacting global healthcare

Macro Upheavals Impacting Global Healthcare

Unabated European Pharma Investment in China

  • Big Pharma players are investing in China-specific projects and growing their footprint across the mainland as China represents an ever-increasing share of their global profits
  • In order to more effectively and comprehensively connect with Chinese medication developers, Boehringer Ingelheim (BI) built a new hub in Shanghai to consolidate its R&D and business development operations in China
  • Additionally, Novo Nordisk unveiled ambitious intentions to combine their Chinese and international businesses with an emphasis on clinical development
  • Novo Nordisk’s "China Essentials" program seeks to simultaneously submit clinical trial applications for new drugs in China and other countries for the first time, with a goal of 90% by 2025

The Highlights and Lowlights Faced by Chinese Vaccine Developers​

  • An intriguing microcosm of the status of development of the entire business can be seen in the highs and lows encountered by Chinese vaccine developers in their quest to deploy a COVID-19 vaccine
  • While Chinese companies were among the first in the world to introduce vaccine candidates into the clinic, validating the advancements made by the country's overall biopharmaceutical industry and significantly raising the stature of Chinese scientific research abroad, it was ultimately a Big Pharma-backed vaccine from Pfizer and German biopharma player BioNTech that first crossed the finish line
  • Chinese-developed COVID-19 vaccines received approval for routine or emergency use in China and several other nations, including the UAE, Egypt, and Brazil, but not by the US or the EU, which were regarded as the world's two most stringent regulatory bodies

Strengthening Global Health through R&D

  • China’s 14th Five-Year Plan calls for an average annual increase in R&D spending across the industry of more than 10% in addition to the requirements for the innovative development of the pharmaceutical industry in the fundamental principles, these requirements are also reflected in terms of development goals
  • By 2025, the share of newly sold innovative items in the increase in operating revenue for the entire industry will further rise
  • The National Natural Science Foundation of China (NSFC) and the China Grand Challenges project were established to promote scientific and technical innovation that may address important issues facing emerging nations
  • The initiative has supported research on AIDS vaccine development, child and maternal mortality, tuberculosis (TB) treatments, vaccines, and more at prestigious universities, research centers, and hospitals in China

Integrating Countries through Commercial Partnerships

  • Chinese and British agencies convene as part of a bilateral Global Health Dialogue that determines areas of shared interest for potential future cooperation
  • The Chinese government is assisting the Africa Centres for Disease Control and Prevention (CDC) and has also inked MOUs with the WHO and numerous bilateral partners to address some healthcare constraints
  • Private health sector businesses, organizations engaged in health research, and other entities are being engaged by China and foreign partners
  • This might entail setting up a platform for cooperation in global health and technical professionals and should develop a mutual understanding as a foundation for more productive collaboration

Focusing on Regulatory Reforms

  • China is collaborating with international partners to remove obstacles that prevent more high-quality and reasonably priced Chinese healthcare products from entering the global market, which could have a larger impact on world health
  • To provide technical support and support reforms that bring Chinese regulations and standards in clinical trials, drug approval, and manufacturing into line with international norms, WHO and the National Medical Products Administration which is China's main regulatory agency for drugs and medical devices have come together
  • Chinese businesses can more easily pursue concurrent domestic certification and WHO prequalification of their products

Increasing Commitments to Health Assistance and Cooperation

  • China is promoting global health by covering the agreements for working with African nations, like FOCAC for health co-operation
  • Under FOCAC, a forum for China-Africa health development has been established, and agreements have been made to offer health aid to African nations
  • As part of efforts to boost international cooperation, the Chinese government has signed MOUs with several multilateral organizations, most notably the WHO for global health
  • China is actively developing better health policies, demonstrating its commitment to playing a greater role in global health, and beginning to demonstrate the thematic goals, kinds of cooperation, and levels of engagement that the government envisions

Accelerating Industrial Transformation and Talent Development

  • The development of the pharmaceutical industry in China depends on encouraging technical collaboration in the pharmaceutical area between business, academia, research facilities, and hospitals, as well as on maximizing the potential of those working in that sector globally
  • In order to improve collaboration with scientific research institutions and jointly create a national strategic scientific force in the field of biomedicine, the 14th Five-Year Plan emphasizes its support for innovative pharmaceutical firms
  • Additionally, the strategy calls for funding the establishment of independent pharmaceutical R&D organizations, assisting in the creation of premier clinical research facilities, and enhancing the capabilities of clinical research design and research services

Consolidation within the Service Provider Space

  • The biopharma boom in China has also energized the CRO and CDMO space, with demand greatly outstripping supply across many fundamental services, through acquisitions, Chinese pharmaceutical businesses are expanding their market share and entering the global pharmaceutical outsourcing sector
  • In order to increase its CDMO capability and market reach in Europe, WuXi AppTec made an agreement with Bristol Myers Squibb to purchase the latter's production plant in Couvet, Switzerland in 2021
  • To improve its CMC capabilities in the UK and China, Pharmaron purchased a commercial API production plant from Recipharm at the beginning of 2022
  • These transactions represent a grown Chinese CRO and CMO market, which grew at a CAGR of 30.8% from 2016 to 2021, much faster than the global average of 9.5%

Export and Sales of Medical Devices and Consumables across Nations Globally

  • In numerous healthcare sub-sectors, China is the 2nd largest healthcare market in the world, offers the potential to global exporters
  • The most active and vitally essential segment of the Chinese healthcare market for international enterprises continues to be medical equipment
  • Medical equipment with advanced technology is typically imported, while low to mid-range market segments are dominated by native products
  • China's medical device industry is anticipated to grow at a CAGR of 6.2% from 2020 to 2025, bringing about USD38.4 billion by 2025
  • The diagnostics, imaging, and consumables subsectors of the Chinese medical device industry accounted for about 50% of the market's value

Promoting the Internationalization of the Pharmaceutical Industry​​​

  • In terms of going worldwide, China is promoting to support businesses in synchronizing the registration of novel medications in China and abroad as well as conducting international multi-center clinical research for developed nations
  • The globalization of China's pharmaceutical business includes the process of internationalization that also involves the exit of native pharmaceutical firms and the admission of foreign pharmaceutical firms
  • This is carried out by actively enticing multinational corporations to establish R&D centers and innovative drug manufacturing bases in China, as well as by using cooperative development and technology licensing to realize the entry of foreign pharmaceutical companies, in order to drive the development of the domestic pharmaceutical industry companies

1. Executive Summary
1.1 Disease Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Patient Journey
1.6 Health Insurance Coverage in Country
1.7 Active Pharmaceutical Ingredient (API)
1.8 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Epidemiology of Disease
2.2 Market Size (With Excel & Methodology)
2.3 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Diagnosis
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

Insights10 will provide you with the reports within 10 key parameters which are:

  1. Market Overview
  2. Market Growth Drivers & Restraints
  3. Epidemiology of Disease Type
  4. Market Segmentation
  5. Market Share
  6. Competitive Landscape
  7. Key Company Profiles
  8. Healthcare Policies & Regulatory Framework
  9. Reimbursement Scenario
  10. Factors Driving Future Growth

Based on our many years of experience, we believe that these are the parameters that are critical to decision-making for business stakeholders. Our focused approach to developing reports focused on 10 key parameters, enabled us to arrive at the name “Insights10”.

 

Stage I: Market Data Collection

Primary Interviews: We have developed a network of experts, freelancers, and researchers across countries through which we engage with local experts to gather key data points and assumptions about each market. We also engage regularly with some of the best market research agencies such as Atheneum, GuidePoint, GLG, etc. to conduct surveys and interviews, and build intelligence. We have language translators as a part of our team, who between them can cover 30+ languages allowing us to extract better local insights.

Secondary Data Collection: We have developed strong expertise and experience in secondary data collection methods for developing unique data sets and research material. We gather data from multiple reliable sources to maintain a high level of accuracy and consistency. The market data is analyzed and forecasted using appropriate statistical and coherent models. The report offers an overall analysis of the market size, growth, and market share as well as a segment-level analysis of the specific market. Our report includes precise, to-the-point information related to the overall market, competition, growth drivers, challenges, regulatory updates, and competition.

Data Sources: We have access to multiple highly reliable free and subscription data sources. We have many years of experience to understand which sources are more dependable for what and which to prefer for the reliable and latest information. The key sources of information include the following, but are not limited to:

 

 

Stage II: Market Data Analysis and Statistical Model

Market Trends: We generally look at macro parameters and micro indicators. The macro parameters include changes in government policies, demand and supply of the market, government intervention programs, and major market share. The micro indicators are GDP growth, market size, market volume, etc. We also understand nuances specific to each country like the US, Canada, India, Germany, etc., and have worked across 60+ countries and hence not only understand global trends but how these differ by country, how payment models, market structure, cultural parameters, etc. differ in each country.

Market Sizing and Analysis: Our expert data analytics team has created various market forecast models by employing the top-down approach i.e. starting with the large overall market and segmenting different areas and the bottom-up approach i.e. starting with population and epidemiology and rolling up based on spend, etc., estimating the size of the market, and distributing among the geographic and/or product segments.

The top-down approach is mainly used for new product forecasting and the bottom-up approach is used for demand estimation of any product for different countries summed up to form the total market. We are able to round off insights and build stronger forecasts because we always do both these methods and triangulate the final numbers.

The study on the market covers the analysis of the leading geographies such as Asia-Pacific, Africa, Europe, Middle East, North America, and  Latin America for the period of 2022 to 2030. The qualitative analysis covers the industry landscape and trends, market opportunities, competitive landscape, and policy and regulatory scenario, and the quantitative analysis covers different market estimates and forecasts.

Data Triangulation & Validation:

Data triangulation of various sources and results of the research are carried out by benchmarking with reliable sources such as industry statistics, statistical databases, and company-level averages, etc.

We make sure to finalize the numbers in alignment with the market research. Firstly, our internal experts ensure thorough validation and checking to ensure accurate and precise analysis and then validation is also done using a multiple-data analysis model. Two-level validation is done and entails the finalization of the report scope and the way of representation pattern.

 

 

Stage III: Interpretation and Presentation

Analysis & Interpretation: The information gathered is then analyzed and synthesized. The second series of interviews are done if necessary to check and validate. The future opportunities are analyzed by understanding product commercialization and many other factors. It also comprises the analysis of data discrepancies observed across various data sources. Information procured from secondary and primary results is then, interpreted by considering the following parameters: (a partial list)

  • Establishing market drivers and trends
  • Analyzing the regulatory landscape to understand future growth
  • Market Segment based analysis to obtain revenue/volume
  • ​Analyzing current needs and determining penetration to estimate the market

Insights: Our reports deliver actionable insights backed with supporting facts and figures to assist you in achieving exemplary growth. Our in-depth analyses are interspersed with relevant insights and statistics to offer an executive-level view of a given market. The description helps in correlating many minor factors affecting the market and their impact on the different segments within the market.

Data curated from the analysis and interpretation are drawn to portray all in one consolidated report.

Presentation & Reporting: The market research report is presented in different forms such as charts by using a scientific approach for easy understanding. Historic, current, and future analysis is provided for each market in terms of both value and volume. The size of the market is interpreted in the US Dollar value and the respective unit, based on the product, for volume consumption.

The foreign exchange rates are calculated on the respective dates and for the respective regions covered in the study.

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This report addresses

  • Intelligent insights to take informed business decisions
  • Qualitative, acute and result oriented market analysis
  • Market size and forecasts from 2022 to 2030
  • Opportunities for expansion and in-depth market analysis
  • Segmentation and regional revenue forecasts
  • Analysis of the market share and competitive landscape
  • Strategic Recommendations to chart future course of action
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Last updated on: 28 February 2023
Updated by: Shivam Zalke

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