Research and Markets (http://www.researchandmarkets.com/research/3926d7/the_chinese_hospit) has announced the addition of the "The Chinese Hospital Pharmaceutical Market Outlook To 2014: Policy Environment, Healthcare System, Market Structure, Competitive Landscape, Growth Opportunities" report to their offering.
China's 2008 population accounts for 19.2% of the world's population and 5% of the global gross domestic product (GDP). According to Business Insights estimates and on a consistent double digit annual economic growth rate, China could become the fifth largest drug market by 2010-11 and the largest by 2050 (overtaking the US). Growth is mainly driven by ageing population, rising incomes, improving drug regulation by the State Food and Drug Administration (SFDA), maturing intellectual property rights (IPR), increasing medical insurance coverage of urban & rural residents and growing consumer demand for quality health care.
Key Findings:
- The Chinese hospital pharmaceutical market in 2008 was valued at $20.3bn, registering a y-o-y growth of 37.8%, and is forecast to grow at a CAGR of 11.9% during 2008-14 period reaching 39.9bn in 2014.
- Traditional Chinese Medicines (TCMs) continued to garner significant market share in 2008. Shu Xue Ning, Shu Xue Tong and Xing Nao Jing were the leading drugs with 2008 sales of $150m, $94m and $87m respectively.
- The Chinese hospital pharmaceutical market is highly fragmented and comprises a number of traditional Chinese medicines among top selling products. The top 10 products in this market constituted a very small fraction of the overall market representing only 6.9% share or $1.3bn sales in 2008.
- Pfizer led the Chinese hospital pharmaceutical market in 2008 posting $414m in sales at a y-o-y growth of 37%. Pfizer's leading presence in this market has been attributed to the strong sales performance of Lipitor and Norvasc with 2008 sales of $62m and $58m at a y-o-y sales growth of 54.3% and 26.1% respectively.
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