China Cardiovascular Drugs Market Analysis Report 2022 to 2030

China Cardiovascular Drugs Market Analysis

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China Cardiovascular Drug Market is at around $11.12 Bn in 2022 and is projected to reach $16.81 Bn in 2030, exhibiting a CAGR of 3.8% during the forecast period. The adoption of digital healthcare is a key factor driving the rise of the China Cardiovascular Drugs Market. The market is dominated by key players like Shanghai Fosun Pharmaceutical Group Co., Ltd., Jiangsu Hengrui Medicine Co., Ltd., Pfizer Inc., Bayer AG, Janssen Pharmaceuticals, Inc., AstraZeneca, Sanofi, Novartis, and Merck & Co., Inc.

ID: IN10CNPH007 CATEGORY: Pharmaceuticals GEOGRAPHY: China AUTHOR: Aneri Parekh

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China Cardiovascular Drug Market Executive Summary

China Cardiovascular Drug Market is at around $11.12 Bn in 2022 and is projected to reach $16.81 Bn in 2030, exhibiting a CAGR of 3.8% during the forecast period.

Heart and blood vessel illnesses are collectively referred to as cardiovascular diseases. These comprise deep vein thrombosis, pulmonary embolism, congenital heart disease, peripheral artery disease, rheumatic heart disease, and coronary heart disease. The three main groups of drugs used to treat heart-related problems are ACE inhibitors (like ramipril), antiarrhythmics (like amiodarone), and angiotensin-II antagonists (like losartan).

China has a socialist market economy, meaning that the vast majority of the economy is made up of state-owned businesses. The open-market economy that relies on supply and demand underpins the operations of the state-owned sector. China's economy is the largest in terms of purchasing power parity (PPP) and the second largest in terms of nominal GDP in the world.

Global revenue for the pharmaceutical sector reached $138.33 Bn in 2022, a significant increase over the preceding 20 years. Growth of the domestic pharmaceutical industries as several businesses are creating and producing generic cardiovascular medications that are both high-quality and reasonably priced, as China's domestic pharmaceutical market is expanding quickly. This increases market competition and lessens reliance on prescription imports.

Fosun Pharma is a multinational pharmaceutical and healthcare sector firm that engages directly in the areas of medical diagnostics, medicines, medical devices, and healthcare services. It broadens its operations in the retail and pharmaceutical distribution sectors. In the first half of 2023, the pharmaceutical industry brought in $2.26 Bn, growing 11.64% over the period-on-period growth.

China cardiovascular drug market

Market Dynamics

Market Growth Drivers:

Adoption of Digital Healthcare Technologies: Increasing the use of online pharmacies and telemedicine is boosting patient convenience and improving access to cardiovascular drugs in rural places.

Government Initiatives: The Chinese government has put in place several programs to increase access to and the cost of healthcare, such as encouraging the use of generic medications. The market for necessary cardiovascular drugs is strengthened by this.

Growth of the Domestic Pharmaceutical Industry: As a result of the rapid expansion of China's domestic pharmaceutical market, numerous companies are developing and manufacturing generic cardiovascular drugs that are both of excellent quality and competitively priced.

Market Restraints Analysis:

Regulatory Obstacles: Pharmaceutical businesses operating in China may find it difficult to navigate the country's intricate regulatory environment. Strict approval procedures and frequent rule modifications might cause delays or prevent the release of new cardiovascular medications.

Pricing Pressures: The Chinese government's focus on affordability places a heavy weight on the cost of heart medications. This may discourage investment in novel and maybe more costly treatments by encouraging producers to concentrate on producing generic versions of their products.

Challenges related to Intellectual Property: Despite China's significant advancements in this area, issues with patent infringement and illicit generic production persist. This may deter international businesses from funding R&D for the Chinese market.

Healthcare Policies and Regulatory Landscape

Under the State Council of China, the National Medical Products Administration (NMPA) is a national office overseeing drugs. It is run by the State Administration for Market Regulation. Applicant sends the NMPA a New Drug Application (NDA). The applicant's production facilities are inspected on-site by the NMPA once it has reviewed the NDA. The NMPA has the right to ask the applicant for more clinical data or other pertinent information. Regulations of the NMPA are often changed, necessitating ongoing attention and adjustment. The NMPA may have different criteria than other authorities.

Competitive Landscape

Key Players:

Shanghai Fosun Pharmaceutical Group Co., Ltd.
Jiangsu Hengrui Medicine Co., Ltd.
Pfizer Inc.
Bayer AG
Janssen Pharmaceuticals, Inc.
AstraZeneca
Sanofi
Novartis
Merck & Co., Inc.

1. Executive Summary
1.1 Disease Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Patient Journey
1.6 Health Insurance Coverage in Country
1.7 Active Pharmaceutical Ingredient (API)
1.8 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Epidemiology of Disease
2.2 Market Size (With Excel & Methodology)
2.3 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Diagnosis
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

China Cardiovascular Drug Market Segmentation

By Drug Type

Cephalosporins
Antihypertensive
Antihyperlipidemic
Anticoagulants
Antiplatelet Drug
Others

By Disease Indication

Hypertension
Hyperlipidemia
Coronary Artery Disease
Arrhythmia
Others

By Distribution Channel

Hospital Pharmacies
Retail Pharmacies
Online Pharmacies
Others

Methodology for Database Creation

Our database offers a comprehensive list of healthcare centers, meticulously curated to provide detailed information on a wide range of specialties and services. It includes top-tier hospitals, clinics, and diagnostic facilities across 30 countries and 24 specialties, ensuring users can find the healthcare services they need.

Additionally, we provide a comprehensive list of Key Opinion Leaders (KOLs) based on your requirements. Our curated list captures various crucial aspects of the KOLs, offering more than just general information. Whether you're looking to boost brand awareness, drive engagement, or launch a new product, our extensive list of KOLs ensures you have the right experts by your side. Covering 30 countries and 36 specialties, our database guarantees access to the best KOLs in the healthcare industry, supporting strategic decisions and enhancing your initiatives.

How Do We Get It?

Our database is created and maintained through a combination of secondary and primary research methodologies.

1. Secondary Research

With many years of experience in the healthcare field, we have our own rich proprietary data from various past projects. This historical data serves as the foundation for our database. Our continuous process of gathering data involves:

Analyzing historical proprietary data collected from multiple projects.
Regularly updating our existing data sets with new findings and trends.
Ensuring data consistency and accuracy through rigorous validation processes.

With extensive experience in the field, we have developed a proprietary GenAI-based technology that is uniquely tailored to our organization. This advanced technology enables us to scan a wide array of relevant information sources across the internet. Our data-gathering process includes:

Searching through academic conferences, published research, citations, and social media platforms
Collecting and compiling diverse data to build a comprehensive and detailed database
Continuously updating our database with new information to ensure its relevance and accuracy

2. Primary Research

To complement and validate our secondary data, we engage in primary research through local tie-ups and partnerships. This process involves:

Collaborating with local healthcare providers, hospitals, and clinics to gather real-time data.
Conducting surveys, interviews, and field studies to collect fresh data directly from the source.
Continuously refreshing our database to ensure that the information remains current and reliable.
Validating secondary data through cross-referencing with primary data to ensure accuracy and relevance.

Combining Secondary and Primary Research

By integrating both secondary and primary research methodologies, we ensure that our database is comprehensive, accurate, and up-to-date. The combined process involves:

Merging historical data from secondary research with real-time data from primary research.
Conducting thorough data validation and cleansing to remove inconsistencies and errors.
Organizing data into a structured format that is easily accessible and usable for various applications.
Continuously monitoring and updating the database to reflect the latest developments and trends in the healthcare field.

Through this meticulous process, we create a final database tailored to each region and domain within the healthcare industry. This approach ensures that our clients receive reliable and relevant data, empowering them to make informed decisions and drive innovation in their respective fields.