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The domestic pharmaceutical market is highly fragmented and inefficient. China, as of 2007, has around 3,000 to 6,000 domestic pharmaceutical manufacturers and around 14,000 domestic pharmaceutical distributors. Most often cited adverse factors include a lack of protection of intellectual property rights, a lack of visibility for drug approval procedures, a lack of effective governmental incentives, poor corporate support for drug research and differences in the treatment in China accorded to local and foreign firms.

Even so, the industry environment has been transformed for the better over the last 10 years. Entry to the WTO has brought a stronger patent system, medical insurance is now more widespread, and pharmaceutical-related regulations have been stiffened. China is reportedly expected to become the fifth largest pharmaceuticals market in the world by 2010.

Currently China has about 3,500 drug companies, falling from more than 5,000 in 2004, according to government figures. The number is expected to drop further. The domestic companies compete in the $10 billion market without a dominant leader. As of 2007, China is the world's ninth drug market, and in 2008 it will become the eighth largest market.

China's thousands of domestic companies account for 70% of the market, and the top 10 companies about 20%, according to Business China. In contrast, the top 10 companies in most developed countries control about half the market. Since June 30, 2004, the State Food and Drug Administration (SFDA) has been closing down manufacturers that do not meet the new GMP standards. Foreign players account for 10% to 20% of overall sales, depending on the types of medicines and ventures included in the count. But sales at the top-tier Chinese companies are growing faster than at Western ones.

This report examines the Chinese Pharmaceutical Industry from the basics onwards. The report focuses on the WTO accession of China and the impact it has had on the Chinese pharmaceutical industry, trends in the industry, competition in the industry, etc.

The report also analyzes the Chinese pharmaceutical industry through a SWOT analysis and a PEST analysis. The report looks at the investment scenario in the Chinese pharmaceutical industry and the role of the government in the industry and other factors.

A look at the top market players in the Chinese pharmaceutical industry completes this research report.

Executive Summary 4

Global Pharmaceutical Industry Introduction 5
Industry Definition 5
Market Overview 5
Market Forecast 8

China's Pharmaceutical Industry 9
Industry Definition 9
Industry Overview 9
Industry Segmentation 10
Competitive Scenario 10
Growth Factors Affecting the Industry 12
Issues Facing the Industry 13

Analysis of China's OTC Pharmaceutical Market 15
Market Definition 15
Market Overview 15
Market Segments 15
Competitive Scenario 16
Sector Forecast 18

Analysis of China's Generics Market 19
Market Definition 19
Market Overview 19
Market Segments 19
Competitive Scenario 20
Sector Forecast 21

Analysis of the Major Market Trends 23

SWOT Analysis of China's Pharmaceutical Industry 26
Strengths 26
Weaknesses 26
Opportunities 26
Threats 27

PEST Analysis of China's Pharmaceutical Industry 28
Political Features 28
Economic Features 29
Social Features 30
Technology Features 31

Investing in China's Pharmaceutical Industry 33
Distribution Systems 33
Hospitals vs. Pharmacies 34
OTC Sector 35
Drug Pricing Policy in China 36
Market Consolidation 37
Outlook for Sector Investment 38

Chinese Pharma's Contract Research Services 41

Outlook of Chinese Pharmaceutical Industry 44

Major Players in the Industry 47
AstraZeneca PLC 47
Beijing Double-Crane Pharmaceutical (DCPC) 50
Beijing TongRenTang Co., Ltd. 50
GlaxoSmithKline Plc 51
Northeast Pharmaceutical Group (NEPG) 52
Pfizer Inc 52
Sanjiu Medical and Pharmaceutical Co. Ltd. (SMPCL) 53
Shanghai Pharmaceutical Co. Ltd 54

Appendix 55

Glossary 58

List of Figures & Tables

Figures

Figure 1: Drug Market Trends (1998-2008) 44
Figure 2: Healthcare Expenditure Trends (1998-2007) 55
Figure 3: National Income & Drug Market Expenditure 56
Figure 4: OTC and Hospital Sourced Drug Market Trends, $bn (1998-2008) 56
Figure 5: Generics Market Trends (1998-2008) 57

Tables

Table 1: China OTC Pharmaceuticals Market Segmentation - Value, 2007 15
Table 2: China OTC Pharmaceuticals Market Segmentation on a Global Scenario-Value, 2007 16
Table 3: China OTC Pharmaceuticals Forecast in U.S.$ 18
Table 4: China Generics Market Segmentation-Value, 2006 19
Table 5: China Generics Market Segmentation on a Global Scenario - Value, 2006 20
Table 6: China Generics Market Value Forecast in U.S.$ 21
Table 7: China Drug Market Indicators 55
Table 8: Health Expenditure Indicators 55