![]() Similarly, an aim of reaching an average annual increase of more than 10% in R&D investment across the industry was set as a target, and investors are encouraged to invest in Chinese pharmaceutical R&D. The 14th Five-Year Plan, in comparison to the 13th Five-Year Plan, shifts from calling on Chinese pharmaceutical producers to “follow innovation” to “becoming leaders in innovation”. China’s pharmaceutical policy in the 14th Five-Year Plan Beijing’s ultimate goal for the domestic pharmaceutical industry is to create national champion companies that can dominate the Chinese market, compete and beat foreign competitors, and begin to take market share abroad. However, with such high investment costs, most Chinese companies are simply priced out. The pharmaceutical industry is one with high technological benchmarks that require massive amounts of research and development (R&D). Pharmaceutical policy in China has historically been relatively disjointed and uncoordinated between provinces, but these initiatives show that China is working towards restructuring the industry with the objective of improving its ability to compete internationally while still ensuring the benefits that comes with the expansion are passed to domestic patients.Īlong these lines, as part of the “Made in China 2025” industrial plan, China hopes to reinvent its pharmaceutical industry. Reform measures within the industry also aim at increasing access to medicine, making medicine affordable, and developing silver economy products for China’s rapidly aging population. ![]() The policy agendas outlined in China’s 14th Five-Year Plan and Healthy China 2030 initiative each reinforce the importance of healthcare reforms such as decreasing inequality in the insurance coverage ranges and strengthening public services. In addition to investing heavily, the government has rolled out a series of broad changes to the pharmaceutical regulatory environment. China’s healthcare expenditure in relation to its GDP was 7.1% in 2020. In tackling this issue, the central government has emphasized a top-down approach. The Government’s Efforts in Bolstering China’s Pharmaceutical Industry Domestically and AbroadĬurrently, China is facing the problem of promoting the growth of its pharmaceutical industry while ensuring affordable and easily accessible drugs for its patient population. Risk assessment for a transport operator in Greater China.A world’s leading battery manufacturer setting its foot in China.A global tech company’s development of mobile payment in China.A global social media platform’s China export advertising expansion.Common Facilities for Medical Device Testing.Common scientific amenities that are often used for medical device tenants.Companies in Medical Devices Park engaged in orthopedic implantation, ultrasound scanners, sterile kits, prosthetics etc.Hosts Asia’s largest coronary stent manufacturing facility.Spread across 250 acres with dedicated ecosystem for MedTech innovation.Country’s largest medical devices park.About 25 companies are in the process of establishing their R&D and manufacturing units including Sahajanand Medical Technologies, Promea Therapeutics Private Limited, Arka Medical Devices, Virchow Biotech, among others. ![]() Key medical device companies that have invested in the park include. The park had garnered around INR 1000 crore in investment. It aims to offer facilities for manufacturing, laboratory testing, prototyping and innovation in medical devices. The park is spread over an area of 276 acres. Medical devices park at Sultanpur, about 50 kilometers from Hyderabad.
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