Although the growth rate of the total output value of the pharmaceutical industry has slowed down in the past two years, with the continuous advancement of the medical system reform, the expenditure on medical and health expenses has increased year by year, and the pharmaceutical industry in China has maintained a relatively fast growth rate. In general, the pharmaceutical industry in the "13th Five-Year Plan" period is facing better development opportunities. However, we must also see that developed countries rely on technological changes and technological breakthroughs to form new competitive advantages. Other emerging market countries have already taken the lead in international competition for generic drugs.
Since 2001, China's pharmaceutical industry's total output value has maintained rapid growth, and China has become the world's largest emerging pharmaceutical market. According to the statistics of the forward-looking database, the compound output value of China's seven major pharmaceutical industries reached 23.32% during the “Eleventh Five-Year Plan†period. Since entering the "Twelfth Five-Year Plan", the total output value of the pharmaceutical industry has maintained a relatively fast growth trend, but the growth rate has slowed down due to the joint influence of multiple factors such as economic restructuring.
According to the data from the Prospective Industry Research Institute's “Foreign Market Prospects and Investment Analysis Reportâ€, the total output value of the pharmaceutical industry in 2013-2015 increased by 18.79%, 15.70% and 12.56%, respectively. In 2016, the total output value of China's pharmaceutical industry will reach 3.2395 billion yuan, an increase of 11.56%.
China's pharmaceutical industry total output value chart
Source: Prospective Industry Research Institute
Although the growth rate of the total output value of the pharmaceutical industry has slowed down in the past two years, with the continuous advancement of the medical system reform, the expenditure on medical and health expenses has increased year by year, and the pharmaceutical industry in China has maintained a relatively fast growth rate. In 2016, the growth rate of pharmaceutical industry sales revenue has rebounded compared with 2015. In 2016, the pharmaceutical industry sales revenue was 2,946.3 billion yuan. It is expected that the sales revenue of China's pharmaceutical industry will reach 3,265.1 billion yuan in 2017.
Analysis on the trend of sales revenue of China's pharmaceutical industry
Source: Prospective Industry Research Institute
From a global perspective, the growth rate of the pharmaceutical market in developed economies has rebounded, the demand for emerging pharmaceuticals is strong, and the proportion of biotech drugs and chemical generic drugs in the drug use structure has increased, which has brought new opportunities for China's pharmaceutical exports. From the domestic perspective, the national economy maintains rapid growth, the disposable income of residents and the upgrading of consumption structure, the healthy construction of China is progressing steadily, the medical insurance system is further improved, the aging of the population and the implementation of the comprehensive two-child policy will continue to promote the pharmaceutical market faster. increase.
In general, the pharmaceutical industry in the "13th Five-Year Plan" period is facing better development opportunities. However, we must also see that developed countries rely on technological changes and technological breakthroughs to form new competitive advantages. Other emerging market countries have already taken the lead in international competition for generic drugs; the driving force for supporting the rapid growth of China's pharmaceutical industry in the early stage is weakening. The constraints have been continuously strengthened, structural contradictions have become more prominent, and there is an urgent need to accelerate the transformation of old and new kinetic energy. The pharmaceutical industry continues to face healthy development and still faces many difficulties and challenges.
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