Life Science Compliance Update

« Previous article | Home| Next article »

April 17, 2017

Healthcare Reform – Chinese Style

  17b869128743120daab02961060638b1

The PRC continues to focus on three principle life science industry concerns: (1) drug quality, development, and approval; (2) healthcare affordability; and (3) preventing bribery and corruption in the healthcare industry. They recently published “Several Opinions Concerning Further Reforms of the Policies Governing Drug Production, Circulation and Usage” (“The Opinions”) continue and expand on those efforts.

Fueled by increasing consumer income, a growing middle class, an aging population, and government spending initiatives, China’s healthcare market is growing rapidly with annual spending estimated to reach $896.7 billion by 2019 (an increase from $579.7 billion in 2014). And yet China also has a large healthcare demand gap due to this aging population, growing urbanization, increase in lifestyle diseases and the continued advancement of universal health insurance. While these factors are a catalyst for overall healthcare market expansion, its continued development cannot proceed without strong support and healthcare reforms from the Chinese government. More specifically, China continues to focus on three principle industry concerns: (1) drug quality, development, and approval; (2) healthcare affordability; and (3) preventing bribery and corruption in the healthcare industry. They recently published “Several Opinions Concerning Further Reforms of the Policies Governing Drug Production, Circulation and Usage” (“The Opinions”) continue and expand on those efforts.

To Read the Full Story, Subscribe, Download a Sample Issue, or Sign In
PM_LSCU_Box

« Previous article | Home| Next article »

Comments

Feed You can follow this conversation by subscribing to the comment feed for this post.

Verify your Comment

Previewing your Comment

This is only a preview. Your comment has not yet been posted.

Working...
Your comment could not be posted. Error type:
Your comment has been saved. Comments are moderated and will not appear until approved by the author. Post another comment

The letters and numbers you entered did not match the image. Please try again.

As a final step before posting your comment, enter the letters and numbers you see in the image below. This prevents automated programs from posting comments.

Having trouble reading this image? View an alternate.

Working...

Post a comment

Comments are moderated, and will not appear until the author has approved them.

Newsletter


Preview | Powered by FeedBlitz

Search


 
Sponsors
May 2017
Sun Mon Tue Wed Thu Fri Sat
1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31