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Although the world is experiencing the cold winter of the global financial crisis, at the 2008 Shanghai Pharmaceutical Industry Development Summit Forum, experts have stated that the financial crisis has a limited impact on the Chinese pharmaceutical industry. The expansion of healthcare reform in 2009 will bring explosives to the market. Growth, with the expansion of medical insurance populations and the establishment of a national basic medicine system, manufacturers of cheap basic medicines are expected to rise against the trend, and companies that are now concentrated on producing large quantities of imported medicines may be in trouble.
For the development of the pharmaceutical industry in the next 2-3 years, Wang Youhong, an expert in pharmaceutical and financial analysis, expressed optimism that in the context of medical reform in the coming years, with the accelerated growth of the pharmaceutical market, the pharmaceutical economy will continue to develop rapidly. The expansion of the scope of medical insurance will also allow the pharmaceutical market's growth space to be further opened. It is expected that by 2011, the total pharmaceutical sales in China's pharmaceutical market will exceed 100 billion yuan. Wang Youhong believes that the main reason for accelerating the growth of drug consumption is the expansion of medical insurance population.
Wang Youhong believes that the impact of the new medical reform on the pharmaceutical industry is reflected in the following: In the context of medical reform in hospitals, high-end drugs such as anti-tumor, cardio-cerebral vascular, high-cost anti-infective drugs, and patented drugs will be the mainstream of drug use in large hospitals; Drugs and proprietary Chinese medicines will also move to emerging rural markets, OTC markets and community hospitals. Large and medium-sized pharmaceutical companies with more basic drug types will face better development opportunities, and the survival space of most small generic drug companies will be further reduced.
With regard to the current financial crisis, analysts believe that although the growth rate of exports in Asia has fallen, the economy has gradually slowed down, and capital has been drained out, its impact on the domestic pharmaceutical industry is limited. Zhu Baoquan, a member of the National Bio-industry Experts Advisory Committee, pointed out that the main reason for the slowdown in the growth rate of the global pharmaceutical market is the apparent decline in the growth rate of the US pharmaceutical industry, while some emerging pharmaceutical markets such as China and India are accelerating their development. Li Hong, Director of the Division of Pharmaceuticals of the Consumer Products Industry Division of the Ministry of Industry and Information Technology, stated that the total output value of the pharmaceutical industry and the total industrial profits have always been at a stage of rapid development.
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