7 major problems in China's pharmaceutical market in 2015

China is committed to building a sustainable medical system. For China's medical industry enterprises and investors, China has issued a number of new policies in 2014. What is the prospect of China's medical industry in 2015?

Release date: 2015-01-20

On the 14th of the Forbes magazine website, the founder of Rubicon Strategic Consulting, a member of the US-China Relations Committee, and a member of the Board of Directors of the China Political and Business Research Center, Benjamin Shobert, said that the growth of China's medical device, pharmaceutical and medical services market remains Strong. Enterprises in China have benefited a lot from this and will continue to maintain this momentum in 2015. Having said that, what are the most important issues facing China's healthcare industry in 2015? The following seven issues are particularly worthy of attention from companies and investors.

1. Many major medical reforms have been completed, but what the Chinese medical industry really needs now is not basic reforms, but incremental reforms. At present, China has taken a positive step in allowing foreign-owned enterprises to enter the two fields of health care and elderly care, but basic medical care, clinic services and family medical care are still under the control of the Ministry of Health. This system lacks the flexibility and streamlining required for a small medical service model. Therefore, in the field of health care services that most require foreign direct investment, reforms are needed to increase the flexibility of the regulatory system.

2. The State Food and Drug Administration may add additional funds. At present, China's drug approval is lagging behind, mainly because the standards of the China Food and Drug Administration are not consistent with other countries. In this regard, China is committed to speeding up the approval of specific medical equipment. This move will undoubtedly solve the problem that has long plagued multinational companies. High-end private doctor service kgn091, focusing on the medical health service industry. However, it remains to be seen whether the SFDA will add a budget to ensure that this commitment is fulfilled. Without such a major investment, the problem of lagging drug approval and slow approval of equipment still exists.

3. The government increases capital investment for hospitals, especially the income of doctors. In the Chinese hospital corruption scandal that people have heard, the core issue is the treatment of doctors in public hospitals. The biggest problem in China's public health system is that recent remediation actions can only bring short-term effects, and structural reimbursement and treatment issues remain unresolved.

4. Online sales of prescription drugs began to pilot. But there are still many problems in this area, such as management issues and how to monitor sales channels between merchants and consumers. Alibaba and a number of large drug retailers are interested in this area because it may solve a big problem in China's public health field: how to enter and how to enter the basic medical field.

5. Telemedicine is gradually becoming a huge platform. Some people think that telemedicine is purely a form, and it may be true in the short term. But in the long run, it may redirect Chinese families to find ways and means of basic medical advice. Today, to get medical advice, most people have to go to public hospitals. In the future, telemedicine is likely to provide basic medical services to Chinese families. The integration of telemedicine, prescription drug online sales, online scheduled follow-up diagnosis or appointment of expert numbers, and the issuance of electronic medical records will likely rewrite the rules of the Chinese medical system.

6. Will the Chinese government expand the scope of medical insurance and include foreign-funded for-profit hospitals? In 2015, China needs to expand the coverage of medical insurance reimbursement, including new medical treatment methods, and consumers can flexibly choose where to go. Seek medical attention.

7. Are domestic and foreign companies in the pharmaceutical and medical device industries still the focus of the government? Will there be new anti-monopoly laws or anti-corruption cases in 2015? Maybe. If they do, there are three things that will be very important. First, can the Chinese government continue to abide by its commitments made at the 25th China-US Joint Commission on Commerce and Trade in Chicago in December 2014, allowing foreign companies facing anti-monopoly investigations to send legal counsel to participate in anti-monopoly law enforcement agencies' meetings? How does such a case strike a balance between foreign companies and domestic companies? Third, is the nature of such behavior bad, or is it merely a “regulation” that reflects business in China?

In the past 20 years, the growth rate of pharmaceutical companies in China has almost doubled that of China's GDP growth. Now, China is committed to building a sustainable medical system that focuses on price control, reimbursement policies, and tendering methods. The goal is to reduce the barriers to entry in the medical industry while controlling costs. In general, the most critical factor in achieving positive growth in China's healthcare system is not within the control of any company, but whether China's economy can maintain steady growth.

Source: China Daily News

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