Updated on 7 July 2016
China has entered into its 13th Five-Year plan for 2016 to 2020 and relays a strong message to reinforce its potentials within the healthcare sector. China has emphasized on changing the model from research and development to innovation with focus on making breakthroughs in biologics medicine and to facilitate better protection of intellectual property rights. In 13th five-year plan, China intends to develop and adopt cyber-medicine and optimized distribution of resources to improve the quality of basic health services.
The country is planning to adopt aggressive strategies to increase the free supply of HIV treatment medication, reduce the cost for treating other chronic diseases and support traditional Chinese medicine. China's plan is to invest in new drugs and bring innovative drugs targeted for diseases such as cancer, heart diseases, mental illness, pain drugs and ageing population.
In 2015, China's pharma industry had clocked revenue of USD175.4 billion out of which API marked USD71 billion and formulations earned USD104.9 billion. China's big names in pharmaceutical industry including Sinopharma, Shanghai Pharma, Yangtze Pharma, Fosun Pharma and CPSC have expanded their strengths in the last few years. China is the biggest exporter of APIs to developed countries. Its API export was valued a USD9.8 billion in 2015 out of USD26.8 billion of chemical export. Its formulation export is estimated at USD2.3 billion.
"There has been a greater emphasis on healthcare industry in 13th five-year plan and by 2020, the sector is estimated to be valued at eight trillion yuan with rapid developments, growing demand and a boost by the capital investors. The plan is to step up production for special APIs, improve development of new drugs and speed up the registration process to expand export." said Mr Guangcheng Pan, executive chairman, China Pharmaceutical Industry Association (CPAI).