China’s pharmaceutical market is second only to the United States valued at $137 billion (USD). Fueling Growth has been fueled by a number of reforms under the national long-term action plan, “Healthy China 2030.” This plan focuses on patient-centered care and improving access to high-quality healthcare with the ultimate goal of universal health coverage.
Due to implementing a more organized and reliable payer HTA and procurement process China has become an incredibly attractive market. However, to ensure that these public insurance programs stay efficient and solvent, China has also managed to keep costs low with generic medications through ramped up negotiations and price-volume agreements. To ensure optimum market access and reimbursements in China, drugmakers must build strong value platforms for their products; consider partnerships with local pharmaceutical companies, KOLs, and HTA organizations; adopt strategies tailored to their different portfolios; and ensure they stay ahead of the shifting health policy landscape. Read more here.
(Source: Xcenda, August 19,2020)