China: Huge opportunities for generic drugs in rural market says new report
According to the report 'Profound Research and Investment Prospect of China's Generic Drug Market 2012 - 2016' there are more than 10,000 kinds of generic drugs inChina, accounting for the 85% of the drug consumption market. In the advantaged areas such as Beijing, Shanghai, Guangzhou and some other first-tier cities, the foreign investment enterprises and joint ventures occupy an absolute advantage; the annual sales amount of a multinational enterprise in Shanghai Ruijin Hospital reached more than CNY100 million, this number equivalent to the annual sales level of a medium-sized domestic pharmaceutical enterprise.
In the second-tier cities such as Nanjing,Wuhan and Hangzhou, the domestic brand enterprises formed a strong competitive position, such as Yangtze River Pharmaceutical Group, Harbin Pharmaceutical Group Holding Co., Ltd, Sanjiu Medical & Pharmaceutical Co., Ltd, Qilu Pharmaceutical Co., Ltd and so on.
In the market of third-tier or four-tier market, especially the rural area markets of counties, villages and towns are flooded with numerous small brands and there is no leading brand in these markets. This means that there are huge opportunities in these markets. If the per capita consumption of drugs in rural market is CNY120 / year, the rural population in China is nearly 900 million; the market capacity will be CNY108 billion / year, which means that there are huge opportunities in rural market for generic drugs.
View the report: 'Profound Research and Investment Prospect of China's Generic Drug Market 2012 - 2016'
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