China’s Healthcare Reform To Spur Vaccine Market Expansion
This article was originally published in PharmAsia News
Executive Summary
China recently unveiled its finalized healthcare reform plan (PharmAsia News, Apr. 8, 2009), which aims to make basic healthcare accessible for all its citizens in both urban and rural areas. The prevention-oriented reform will bring huge market opportunities for vaccine manufacturers. According to estimates, China's public healthcare expenditure will reach RMB 19.5 billion ($2.85 billion) in 2009, and RMB 26 billion ($3.8 billion) by 2011. At this growth rate, the vaccine sector is expected to increase more than 30 percent. With per capita healthcare expenditure rising, the nation will prioritize the usage of vaccines and pay for its application. As China's leading vaccine producer, Sinovac said it will benefit from the reform and is putting its focus to cater more to public interest. (Click here for more - Chinese language)