The global pharmaceutical industry has been evolving in the last few decades. Patent expiries, weak pipelines, regulatory changes and product withdrawals combined with competition from generics, challenge the development and sustainability of this market. Nonetheless, external demographics and consumer market trends mean the growth prospects for the industry remain healthy.
In China, the pharmaceutical market is a fast growing market with abundant opportunities. According to IMS figures, China is expected to maintain a growth rate of 15% to 16%, reaching 15 to 16 billion USD in 2007. The Economist Intelligence Unit estimates that by the middle of the century, drug sales in China will outstrip those in every other region, and China is expected to become the world’s fifth-largest pharmaceuticals market by 2010.
Both domestic and multinational pharmaceutical companies in China face multiple challenges, but if approached the right way, these challenges can be turned into opportunities that can expand their business and result in sustainable growth in China.
PwC, with its strong pharmaceutical expertise, provide industry-focused services that help organisations improve processes, meet regulatory requirements, and achieve greater operational excellence across the value chain. Our extensive portfolio of pharmaceutical industry-focused services includes: