ABSTRACT
China is expected to become the fifth largest drug market in the world by 2010. Growth will be driven by factors such as an increasingly ageing population, large market size (urban and rural), government support in restructuring the highly fragmented industry, IPR policies, as well as increasing life expectancy.
China will remain an attractive location to foreign drug companies, because China offers many advantages in terms of the size of its marketplace, the relatively easy access to patients who are available for clinical trials, and lower clinical trial costs.
China has made considerable progress towards an improved standard of living for its population, including better health, reduced levels of poverty, and strong macroeconomic growth. The market for high quality, patient-oriented healthcare services is small, but growing steadily. Most Chinese lack health insurance and only a fraction of the population can afford top-end Western medical care. Currently, there are many successful foreign and joint venture healthcare service providers already in China. Their experiences point to growing opportunities for foreign companies looking to invest in this segment of the market.
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