China’s Medical Services Expected To Double in 2008
This article was originally published in PharmAsia News
The imminent implementation of the State Council's three national technological projects - of which pharmaceutical manufacturing and innovation is one - will see increased funding for R&D for treatment and prevention of major diseases. The government's medical subsidies for individual citizen's medical insurance and services will double this year, leading to an estimated 653 billion yuan consumer market for health care. The scheme, riding on the back of an aging population, will drive the demand and widespread use of generic drugs. Industry analysts see three key trends arising: more mergers and acquisitions; greater role of leading pharmaceutical corporations; and rapid increase in domestic generic drug manufacturing for both local and international markets. (Click here for more)
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